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$ 9,900,000
Est. payment /mo
Active
172-176 Russell St Worcester, MA 01609
99 Beds
36 Baths
9,999 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Active
Purchase Type For Sale
Square Footage 9,999 sqft
Price per Sqft $990
MLS Listing ID 73488551
Bedrooms 99
Full Baths 36
Annual Tax Amount $86,074
Tax Year 2026
Lot Size 2.300 Acres
Acres 2.3
Property Sub-Type 5+ Family - 5+ Units Up/Down
Property Description
Rare 10-building, 30-unit multifamily portfolio on Worcester's desirable West Side, steps from WPI. Offered at $9,900,000 ($330K/unit, 7.1% cap). Stabilized projected 2026-2027 gross income of $1,065,600 with NOI of $699,282. Portfolio features a mix of 2BR-5BR apartments plus 4 garage spaces across 10 three-unit buildings. Most units have been extensively renovated and are in good condition. Student-driven tenant base provides reliable demand, scheduled annual turnover aligned with the academic calendar, and historically near-zero vacancy. Located in Worcester's most stable and sought-after rental submarket with strong rent growth and consistent off-campus housing demand. Sellers are open to offers for the entire portfolio or individual groupings/buildings, creating a flexible acquisition opportunity. Full Offering Memorandum attached to MLS.
Location
State MA
County Worcester
Area Wpi
Zoning NA
Direction Institute Rd to Russell St
Exterior
Garage Spaces 4.0
Total Parking Spaces 26
Garage Yes
Building
Lot Description Corner Lot
Story 5
Foundation Concrete Perimeter, Block
Sewer Public Sewer
Water Public
Others
Senior Community false
Virtual Tour https://bmnboston.com/wpi-portfolio
Listed by Douglas Elliman Real Estate - Park Plaza
Nearby Locations