15 King Philip Rd Worcester, MA 01606

Property Details for 15 King Philip Rd

Year built

1898

Property size

10,061 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a stabilized, six-unit apartment building located at 15 King Philip Road in Worcester, Massachusetts. The property consists of two three-story buildings totaling 10,061 square feet on a single parcel, offering a combined net rentable area of 6,206 square feet. Built in 1898, the property is classified as a Class C multifamily investment and is zoned 1110 - apt 4-8 unit, allowing for potential future development or expansion. The asking price is $1,500,000, translating to $250,000 per unit and $149.09 per square foot. Five out of the six units have recently undergone interior remodeling, ensuring high-quality living spaces for tenants. Currently, most units are under lease, generating a consistent cash flow for the new owner. This is a rare chance to acquire a well-maintained, income-producing property in a desirable Worcester location. The property's strong rental history and recent renovations make it an attractive investment for both seasoned and new investors seeking a stable and profitable venture. This turnkey opportunity offers immediate cash flow and potential for long-term appreciation. The seller, a retiring family, is offering this property as part of a larger portfolio sale.