345 Park Ave - Apartments FOR SALE


Worcester, MA 01610- Main Middle
$1,200,000 USD
781-776-4000
345 Park Ave, Worcester, MA for Sale
$1,200,000 USD
Apartments - FOR SALE
1/13
null | 7.19% Cap Rate

345 Park Ave
Worcester, MA 01610
Main Middle


HIGHLIGHTS

  • Value-Add Potential
  • Separately Metered Utilities
  • Strong Location
  • Transit Oriented Location
  • Access to Amenities
  • Strong Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the sale of the multifamily investment property located at 345 Park Avenue in Worcester, Massachusetts (the “Property”). The Property consists of a three-story building with six (6) residential units comprised of two, (2), 1-Bedroom/1- Bathroom units and four (4), 2-Bedroom/1-Bathroom units with 3,296 square feet of living area in 5,178 square feet of gross area on a 0.11-acre parcel. The Property features six (6) on-site parking spaces for residents. Four of the six units have been extensively renovated. Unit features include new kitchens featuring granite countertops, new bathrooms, and new flooring (or refurbished hardwood). Additionally, each unit is separately metered for electricity, heat (gas) and hot water (gas) which the tenants pay directly. 345 Park Avenue enjoys a prime location on the edge of Worcester’s Piedmont neighborhood, just one block from the intersection of Park Avenue and Chandler Street—two of the city’s main thoroughfares. The property is within walking distance of Clark University and just a mile from Worcester Polytechnic Institute (WPI). Worcester offers a vibrant, walkable downtown with abundant employment, cultural, and entertainment opportunities, including the DCU Center, The Palladium, and UMass Memorial Medical Center—the city’s largest employer. With eight colleges and universities and a student population of over 36,000, the area benefits from strong and consistent rental demand.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$290 USD /SF

# OF UNITS

6

PRICE/UNIT

$200,000

CAP RATE

7.19%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1890

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

BG-3

APN/PARCEL ID

WORC-000006-000012-000002

ASK ABOUT THIS PROPERTY

Dennis KelleherHorvath & TremblayMore Info
781-776-4000

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Dennis KelleherHorvath & TremblayMore Info
781-776-4000

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