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36-38 Houghton St 7 Unit Apartment Building $1,949,000 ($278,429/Unit) 6.78% Cap Rate Worcester, MA 01604
INVESTMENT HIGHLIGHTS
- Turn key, fully rented and stabilized.
EXECUTIVE SUMMARY
Exceptional seven-unit investment opportunity featuring three well-maintained buildings! The front three-decker offers newer gas forced hot-air heating systems and replacement windows, while the two-unit building in the rear has been extensively updated with a new roof, gutters, plumbing, electrical, replacement windows, and new gas heating systems. Both buildings have been thoughtfully cared for, providing a strong foundation for long-term performance and minimal maintenance. Beautifully updated two-family property showcasing quality craftsmanship and modern design throughout! Both units have been fully renovated from top to bottom, featuring new plumbing, new electrical, efficient gas forced hot-air heating systems, and blown-in insulation for year-round comfort. Conveniently located near major hospitals, highways, and city amenities, this property offers a perfect blend of stability, quality, and prime location. Whether you’re an owner-occupant or an investor seeking a turnkey.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,949,000 | Building Class | A |
| Price Per Unit | $278,429 | Lot Size | 0.33 AC |
| Sale Type | Investment | Building Size | 7,946 SF |
| Cap Rate | 6.78% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.76/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RG-5 | ||
| Price | $1,949,000 |
| Price Per Unit | $278,429 |
| Sale Type | Investment |
| Cap Rate | 6.78% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | A |
| Lot Size | 0.33 AC |
| Building Size | 7,946 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1910/2022 |
| Parking Ratio | 1.76/1,000 SF |
| Zoning | RG-5 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
1 1
Walk Score®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | WORC-000004-000031-000002 | Total Assessment | $1,080,700 (2025) |
| Land Assessment | $117,700 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $963,000 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
WORC-000004-000031-000002
Land Assessment
$117,700 (2025)
Improvements Assessment
$963,000 (2025)
Total Assessment
$1,080,700 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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36-38 Houghton St
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