For Sale
$1,500,000

15 King Philip RdWorcester, MA 01606

Six-unit apartment building, strong cash flow.

Overview

Added:
Dec 11, 2024
Days on market:
117
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.

Highlights

  • $1,500,000 asking price for a stabilized multifamily investment property.
  • Six-unit apartment building in Worcester, MA.
  • 10,061 total square feet, 6,206 net rentable square feet.
  • $149.09 price per square foot and $250,000 per unit.
  • Two three-story buildings built in 1898, zoned for 4-8 unit apartments.

Property Details for 15 King Philip Rd

Property type
Apartment buildings
Square Feet
10,061 SF
Class
C
Year Built
1898
Buildings
2
Stories
3
Units
6

Location Insight

City
Worcester
County
Worcester
State
Massachusetts
Latitude
42.3044421
Longitude
-71.7998124
15 King Philip Rd, Worcester, Massachusetts

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15 King Philip Rd
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