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Posted almost 3 years ago

Worcester Multifamily Tours Weekend Summary 8/27/21-8/29/21

youtube link for videos

I have been doing reviews like this for my clients for a couple years now.  For this blog I will do a combination of reviews of properties and some off market properties that have been shared with me.  The hope here is to educate people so they can find the best property for them in WORCESTER.

Inventory is up there are now 72 multis for sale, remember there were 40 2 months ago

****195 Millbury street, asking $475k, worth $525k, 4650 SF on small lot but it has a nice driveway, Really 4 BR per floor, 1st floor is ready to go, worth over $1500 as is. didnt see second floor, 3rd floor video is on youtube. not bad shape. This is in the Canal District where people want to live now and right at the end of 146.
*****85 Kenberma Rd, $520k 2 family, big 2912 SF with plenty of parking, will probably go for $550k built in 2005 so everything is good to go, you can probably get $1800-2000 per floor
*****144 May st, $450k, worth a bit more. HUGE. 3968, the unit I saw was townhouse style with Kit/LR/DR on 1st floor and 3 BR on 2nd floor, and expandable attic. Good location close to Worcester state and on the West Side. Video
49 Woodland st, NO THANKS
43 Adams st, off Market, $415k CASH needs full rehab, location is good, has parking, house is a full project
13 Hancock,$480k big 3 family with some parking can be 4BR per floor, needs work, but worth it as 1 Hathaway across the street sold for $665k in February. overpriced has a vacancy, might be worth it at $450k
21 Whipple st, another poor flip, overpriced but vacant
67 Esther st, SMALL 3 family on decent lot
19 Suffield st, Rents are too low, nice house
17 Blanche, really 4 BR per unit, rents are low
38 Columbia, $690k, completely done 3 decker with sprinklers. Might be worth a shot here as no maintenance and everything is new. if you get $1800 per floor you could end up with a 7 CAP here
*****731 Pleasant st, $699k 4 family in newton square with 13,509 SF lot!!!!! very nice place, you pay the heat, there are more BR here then you think, i think you can get $5900/month in rent
*****1 Ethel place, $290k units were surprisingly nice here, i think you can get $2800/month in rent, + big garage you could rent to a painter/plumber needs work on the outside 2 family
*****3 Ethel Place, $390k 3 family junk rof, 2 good units one bad, not bad at this price point
*****30 South Street, $500k, I really like this one. it has parking, right next to Worcester Academy's turf field, pretty big 4035SF and has basically 4 BR per floor, 3rd floor is vacant., and deleaded. This is a solid place
47 Acton st, $535k average, with low rents, solid location by East Middle
*****238 Main Street, Douglas. $656k, 5780 SF 6 family on 1.5 Acres. Big place low rents, 2 X 1 BR worth $1100, 2 X 2 BR worth $1400, 2 X 3 BR worth $1600. so rents could be $8200 with some work and turnover of tenants. Current rent is close to $4800/month. Tons of parking
1 unit has mini split, rest are electric heat, some drop ceilings some random floor height changes, only 6 electrical panels, older roof, painted outside needs some help. GFI in all kitchens and baths, coin op laundry. This is worth a look
I would offer $570k which would be $100/SF
**************285 Providence Rd, Grafton MA $550k 3 family, super nice 3+ BR and 1.5BA per unit with parking in A- Shape, Super winner here. One of the best i have seen in years.
32 Burncoat st, $700k, good highway access decent house some slopes in the kitchen. great parking
12 Airlie street, $589k good location decent house, all parlor heaters, just a bit too expensive
*****6 Ericsson st, $510k 4 family built in 1955, rents are super low, has parking. This is worth the $510k but current rents are $3k and market rents are $1300-1400 each so about $5200. This is a winner.
*****25 Merrick st, $460k. This is a winner here. Huge 2 family 3288 sf on 7297 SF lot. 3 car garage with driveway. each unit has 3 BR and 2 Baths and a laundry room. Also in the basement there is a "teen suite" with a bedroom, LR and full bathroom and separate exit. this would be great to Air BNB for extra $