148-152 Millbury St - Apartments FOR SALE


Worcester, MA 01610- Green Island
$1,395,000 USD
203-692-2420
148-152 Millbury St, Worcester, MA for Sale
$1,395,000 USD
Apartments - FOR SALE
1/19
null | 7.3% Cap Rate

148-152 Millbury St
Worcester, MA 01610
Green Island


OVERVIEW

Northeast Private Client Group, Inc. is pleased to present 148-152 Millbury Street, a nine-unit mixed-use property in Worcester's Canal District, a short walk from Kelley Square and Polar Park. Built in 1920 and rising three stories, the fully occupied building is offered at $1,395,000. The upper floors hold eight residential apartments — five one-bedrooms and three studios — over a ground-floor commercial space leased to a neighborhood bar/restaurant. Ownership covers water and sewer, trash, and common-area electricity. The income splits between steady residential cash flow and a commercial lease that anchors the ground floor. In-place residential rents sit below the levels renovated units command as they turn, giving the next owner a clear path to raise income as leases roll, while the ground-floor tenant diversifies the building's cash flow. The rent roll and income tables that follow carry the detail. 148-152 Millbury Street offers a fully occupied, mixed-use investment: in-place income from day one, embedded rent upside as units turn, and a Canal District address in the middle of Worcester's most active redevelopment corridor. It is a chance to own income today with a clear runway to grow it.

FOR SALE DETAILS

PRICE

$1,395,000 USD

PRICE/SF

$121 USD /SF

# OF UNITS

8

PRICE/UNIT

$174,375

CAP RATE

7.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Millbury Street Apartments & Sports Bar

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

BG-3

APN/PARCEL ID

WORC-000005-000021-000028-000029

ASK ABOUT THIS PROPERTY

Taylor PerunNortheast Private Client GroupMore Info
203-692-2420

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Taylor PerunNortheast Private Client GroupMore Info
203-692-2420

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.