Three-Story Six-Unit Apartment
86 Hamilton Street Worcester, MA 01604
86 Hamilton Street, Worcester, MA, 01604
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For Sale
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Two three-story six-unit buildings offer renovated and non-renovated units with separate utilities and tenant parking.
Property Size12,535 SF
Lot Size0.29 Acres
Price / SF$183.49
Days on Market35
Property Features for 86 Hamilton Street
General Information
- Standard status
- Active
- Size
- 12,535 SF
- Lot size
- 0.29 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1920
Listing Agency
Horvath & Tremblay
(781) 776-4002
Listed by
Ethan Lazar · License #MA 9582013
Source
Crexi
Added: Jun 13 Checked: Jul 17 at 6:10 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Horvath & Tremblay
Investment Insights
Based on property information with market context.
The property consists of two three-story, six-unit apartment buildings on a 0.29-acre parcel, containing 12 total units totaling 9,234 square feet of gross living area. The unit mix includes two 3-bedroom/1-bath units, seven 2-bedroom/1-bath units, and three 1-bedroom/1-bath units. One building (90-92 Hamilton) was completely renovated following a fire and is described as sprinklered, with units featuring new kitchens with quartz countertops and stainless-steel appliances, renovated bathrooms, new flooring, and new mechanical systems. The second building (86-88 Hamilton) is described as having clean layouts and newer flooring, though units are not renovated to the same extent.
All units are separately metered for heat, hot water, and electricity, with utilities paid directly by tenants. The property includes ample off-street parking for tenants and a renovated on-site laundry facility. The location is just west of downtown Worcester, with access to Main Street and Park Avenue and connectivity via Interstate 290, Interstate 90 (Massachusetts Turnpike), and Route 9.
For prospective owners, this is a multifamily asset with a mix of extensively renovated units and units that may be upgraded to better align with the renovated standard. The combination of separately metered utilities, on-site laundry, and tenant parking supports day-to-day operational practicality across the full unit count.
All units are separately metered for heat, hot water, and electricity, with utilities paid directly by tenants. The property includes ample off-street parking for tenants and a renovated on-site laundry facility. The location is just west of downtown Worcester, with access to Main Street and Park Avenue and connectivity via Interstate 290, Interstate 90 (Massachusetts Turnpike), and Route 9.
For prospective owners, this is a multifamily asset with a mix of extensively renovated units and units that may be upgraded to better align with the renovated standard. The combination of separately metered utilities, on-site laundry, and tenant parking supports day-to-day operational practicality across the full unit count.
Key Highlights
- Two three‑story six‑unit multifamily buildings at 86–92 Hamilton St, totaling 12 units with 9,234 SF gross living area
- Unit mix: two 3BR/1BA units, seven 2BR/1BA units, and three 1BR/1BA units
- 90–92 Hamilton St was completely renovated after a fire, including new kitchens (quartz counters, stainless appliances), new baths, flooring, and new mechanicals
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $323.4k | $25.80 |
| − Vacancy | −$16.2k | −$1.29 |
| EGI | $307.2k | $24.51 |
| − OpEx | −$138.3k | −$11.03 |
| NOI | $169.0k | $13.48 |
12,535 SF · lease $25.80/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.41M
$2.11M – $2.82M
NOI $168,978 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.18M
$3.66M – $4.88M
NOI $292,874 @ 7.0% cap · market cap 12.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two three-story six-unit buildings offer renovated and non-renovated units with separate utilities and tenant parking.
Where is this apartment building located?
The property is located at 86 Hamilton Street Worcester, MA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Two three‑story six‑unit multifamily buildings at 86–92 Hamilton St, totaling 12 units with 9,234 SF gross living area; Unit mix: two 3BR/1BA units, seven 2BR/1BA units, and three 1BR/1BA units; 90–92 Hamilton St was completely renovated after a fire, including new kitchens (quartz counters, stainless appliances), new baths, flooring, and new mechanicals
