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605 Millbury St 8 Unit Apartment Building $2,300,000 ($287,500/Unit) 8.34% Cap Rate Worcester, MA 01607
Executive Summary
Turnkey, gut renovated 8-unit multifamily producing approximately $20,300/month / $243,600/year . All units are 3-bedroom layouts, including two newly completed 3BR/2BA units, for a total of 24 bedrooms. Major updates include new plumbing, new electrical, new sprinkler system, separate utilities, full insulation, renovated kitchens/baths, in-unit washer/dryer in each unit, and new appliances. Strong stabilised asset and perfect opportunity for a 1031 exchange buyer seeking current cash flow, scale, and modernized systems. Convenient Worcester location near highways, shopping, public transportation, and amenities.
Property Facts
| Price | $2,300,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $287,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 8.34% | Building Size | 11,544 SF |
| No. Units | 8 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1920/2025 |
| Property Subtype | Apartment | ||
| Zoning | BL-1 | ||
| Price | $2,300,000 |
| Price Per Unit | $287,500 |
| Sale Type | Investment |
| Cap Rate | 8.34% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 11,544 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1920/2025 |
| Zoning | BL-1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 6 | $2,500 | - |
| 3+2 | 2 | $2,650 | - |
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Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | WORC-000010-000003-000018 | Improvements Assessment | $793,700 |
| Land Assessment | $80,800 | Total Assessment | $874,500 |
Property Taxes
Parcel Number
WORC-000010-000003-000018
Land Assessment
$80,800
Improvements Assessment
$793,700
Total Assessment
$874,500
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Presented by
Velney Realty LLC
605 Millbury St
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