Three-Unit Multifamily
9 Andover Street, Worcester, MA 01606
For Sale
$689,900
Three matching floor plans, separate utilities, and recently rebuilt porches provide a consistent residential layout.
Property Size3,852 SF
Price / SF$179.10
Days on Market8
Property Features for 9 Andover Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Building Details
Year Built
Stories
Listing Agency:
Parent Real Estate
Listed By:
Michael R. Parent
(774) 239-4010
Source:
Cambridgerealty
Added: Nov 6
Changed: Nov 12
Last Checked: Nov 12 at 8:18AM
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 Parent Real Estate
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Investment Insights
Based on property information with market context.
This three-unit multifamily property contains 3,852 square feet across three floors, with the same floor plan on each level. The units are in very good condition and feature well-sized rooms and bedrooms. Two units are vacant, while the first-floor unit is occupied by a tenant described as being in good condition. Exterior improvements include siding, replacement windows, insulated doors, and a younger roof. Front porches have been replaced, and the rear porches were recently rebuilt. Utilities are separately metered, with circuit breakers and a separate owner panel serving common areas.
Built in 1915, the property is in Greendale and offers highway access. A school, shopping, services, and a park are nearby.
Built in 1915, the property is in Greendale and offers highway access. A school, shopping, services, and a park are nearby.
Key Highlights
- Three residential units across 3,852 square feet
- Matching floor plans on all three floors
- Two units are vacant; first‑floor unit is occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,568
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,131,360
$1.1M
Cap Rate 7%
$808,114
$808.1K
Cap Rate 9%
$628,533
$628.5K
Market Conditions
NOI Build-Up for 3,852 SF
Gross rent
$85.5K $22.20/SF
− Vacancy
−$4.7K −$1.22/SF
EGI
$80.8K $20.98/SF
− OpEx
−$24.2K −$6.29/SF
NOI
$56.6K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,131,360
Cap Rate 7%
$808,114
Cap Rate 9%
$628,533
Alternative Uses
Best Use
Multifamily LT 5
$808.1K
$707.1K – $942.8K
NOI $56,568 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$741.8K
$649.1K – $865.5K
NOI $51,927 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,000 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Who owns this building?
See the owner, sales and loan history
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 01606, MA
21,651
Population
9,427
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
3,609
Density / Sq Mi
$92,537
Median Household Income
$55,931
Median Earnings
$1,615
Median Rent
$343,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Worcester, MA
Properties on Market for Triplexes in Worcester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three matching floor plans, separate utilities, and recently rebuilt porches provide a consistent residential layout.
Where is this triplex located?
The property is located at 9 Andover Street Worcester, MA.
What is the asking price?
The asking price for this property is $689,900.
What are key features of this property?
This property features: Three residential units across 3,852 square feet; Matching floor plans on all three floors; Two units are vacant; first‑floor unit is occupied
