Three-Family Residential Income
89 Gage Street Worcester, MA 01605
For Sale
$649,900
Three occupied units each offer 3 bedrooms, 1 full bath, double living rooms, and washer/dryer hookups.
Property Size3,861 SF
Price / SF$168.32
Days on Market51
Property Features for 89 Gage Street
General Information
- Standard status
- Active
- Size
- 3,861 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1890
Listing Agency:
Excelsior Realty
(508) 736-2735
Listed By:
Tin Tran · License #9560036
(508) 736-2735
Source:
Compass
Added: Jun 3
Changed: Jul 23
Last Checked: Jul 23 at 3:04AM
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 Excelsior Realty
Investment Insights
Based on property information with market context.
This three-family residential income property includes three separate units, each designed with 3 bedrooms and 1 full bath. Each unit also features double living rooms and washer/dryer hookups to support in-unit convenience. All three units are currently occupied by tenants at will.
The property is located on Gage Street in Worcester, positioned just minutes from Colombo Park, Polar Park, major hospitals, and I-290.
For buyers seeking a straightforward three-unit setup with consistent occupancy, the property offers an established income stream across all three units.
The property is located on Gage Street in Worcester, positioned just minutes from Colombo Park, Polar Park, major hospitals, and I-290.
For buyers seeking a straightforward three-unit setup with consistent occupancy, the property offers an established income stream across all three units.
Key Highlights
- 3‑family with all three units occupied by tenants at will
- Each unit offers 3 bedrooms, 1 full bath, and double living rooms
- Washer/dryer hookups on each floor for all units
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 | $85.7k | $22.20 |
| − Vacancy | −$4.7k | −$1.22 |
| EGI | $81.0k | $20.98 |
| − OpEx | −$24.3k | −$6.29 |
| NOI | $56.7k | $14.69 |
3,861 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$810.0K
$708.8K – $945.0K
NOI $56,700 @ 7.0% cap · market cap 8.72%
Second Best
Apartment 5plus
$743.5K
$650.6K – $867.5K
NOI $52,048 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,210 @ 7.0% cap · market cap 13.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three occupied units each offer 3 bedrooms, 1 full bath, double living rooms, and washer/dryer hookups.
Where is this triplex located?
The property is located at 89 Gage Street Worcester, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 3‑family with all three units occupied by tenants at will; Each unit offers 3 bedrooms, 1 full bath, and double living rooms; Washer/dryer hookups on each floor for all units
