Active
4 Days on market
216-228 Park Avenue Worcester — Photo 1 of 42

216-228 Park Avenue Worcester — Photo 1 of 42

$4,199,000

Investment Analysis — 216-228 Park Avenue

Worcester, MA 01609

Based on rent reported on the MLS listing, a home in 01609 carries $16,016/mo in gross rent — about a 2.53% cap rate and $106,240/yr in estimated NOI at the $4,199,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

--

Baths

15

SqFt

15,239

Style

Other

Built

1890

An exceptional opportunity to acquire a four-property investment portfolio at the highly visible corner of Highland Street and Park Avenue in Worcester. The portfolio consists of two rooming houses, a three-family building, and a single-family residence, providing multiple income streams and strong, consistent cash flow. The buildings have benefited from extensive updates, improvements, and renovations, including new roofs, siding, windows, central heating and air conditioning, and numerous cosmetic upgrades. The portfolio also features a stabilized rent roll, tenants at will, extensive street frontage, and ample off-street parking. The single-family residence is currently undergoing additional cosmetic improvements, which are expected to be completed prior to closing. Beyond the existing income, current zoning may offer the potential to develop an additional six-unit building, subject to buyer due diligence and all required city approvals. This is a truly hard-to-replicate location, just minutes from Elm Park, WPI, MCPHS University, downtown Worcester, and I-290. With reliable income in place, substantial improvements already completed, and meaningful potential for future growth, this portfolio presents an exciting opportunity for an experienced investor seeking a significant position in one of Worcester’s most desirable and active neighborhoods. Portfolio sale only. Financial information through 2026 is available to qualified buyers.

Estimates — not financial advice

These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.

Property Details

Financials

Original Price$4,199,000
Annual Taxes$39,826

Parking

Garage0
Off-Street0

Interior Specifications

Total Rooms--
FireplacesNone
Flooring--
BasementNone

Climate & Utilities

Heating--
Cooling--
Water--
Sewer--

Building & Exterior

Construction--
RoofAsphalt/Composition Shingles
Foundation--
ZoningRS-7, BO-1

Property & Lot

Acres0.91
SqFt Lot39,478
Lot Features--

Geography

Listing Provided By

Listing Agent: James Kalogeropoulos

Listing Office: RE/MAX Partners

MLS® Number: 73573445