Four-Unit Residential Income
86 Pilgrim Avenue Worcester, MA 01604
86 Pilgrim Avenue, Worcester, MA, 01604
$825,000
For Sale
$825,000
Four well-laid-out units include one 3BR, one 2BR, and two 1BRs, with off-street parking and laundry hookups.
Property Size3,500 SF
Price / SF$235.71
Days on Market16
Property Features for 86 Pilgrim Avenue
General Information
- Standard status
- Active
- Size
- 3,500 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
Property Investors & Advisors,LLC
Listed by
Brian Allen
(508) 867-2800
Source
Miketoomeyrealestate
Added: Jul 6 Updated: Jul 20 at 11:18PM Checked: Jul 21 at 6:28AM
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 Property Investors & Advisors,LLC
Investment Insights
Based on property information with market context.
This clean four-unit residential income property features one 3-bedroom unit, one 2-bedroom unit, and two 1-bedroom units. Each unit includes washer and dryer hookups. The property also offers off-street parking and a level back yard.
Located off Hamilton Street in Worcester, the building is approximately 1.5 miles from Saint Vincent Hospital and about 1.5 miles to Polar Park. Umass Chan is roughly 1.6 miles away.
As a four-family structure, it provides a mix of unit sizes within one building, with dedicated off-street parking and an outdoor yard area at the rear.
Located off Hamilton Street in Worcester, the building is approximately 1.5 miles from Saint Vincent Hospital and about 1.5 miles to Polar Park. Umass Chan is roughly 1.6 miles away.
As a four-family structure, it provides a mix of unit sizes within one building, with dedicated off-street parking and an outdoor yard area at the rear.
Key Highlights
- 4‑family property built in 1920 with one 3BR unit, one 2BR unit, and two 1BR units
- Off‑street parking included
- Level back yard
Local Financial Insights For Multifamily LT 5
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 | $77.7k | $22.20 |
| − Vacancy | −$4.3k | −$1.22 |
| EGI | $73.4k | $20.98 |
| − OpEx | −$22.0k | −$6.29 |
| NOI | $51.4k | $14.69 |
3,500 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$734.3K
$642.5K – $856.7K
NOI $51,399 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$674.0K
$589.8K – $786.4K
NOI $47,182 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,776 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four well-laid-out units include one 3BR, one 2BR, and two 1BRs, with off-street parking and laundry hookups.
Where is this quadplex located?
The property is located at 86 Pilgrim Avenue Worcester, MA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 4‑family property built in 1920 with one 3BR unit, one 2BR unit, and two 1BR units; Off‑street parking included; Level back yard
