216-228 Park Avenue, Worcester, MA 01609
- $4,199,000
- 15
- BA
- 15,239
- SqFt
- List Price
- $4,199,000
- Status
- ACTIVE
- MLS#
- 73573445
- Bathrooms
- 15
- Living Area
- 15,239
- Lot Size (Acres)
- 0.91
- Year Built
- 1890
Property Description
An exceptional opportunity to acquire a prominent four-property investment portfolio situated on a 39,478-square-foot site at one of Worcester’s most visible and sought-after corners. The portfolio consists of a 14-room rooming house, a 15-room rooming house, a three-family property with tenants at will and below-market rents, and a fully renovated single-family residence. The offering includes approximately 20 off-street parking spaces and provides multiple income streams with additional upside through rent growth and future asset stabilization. The parking-lot area may also offer the potential to construct a three-story, six-unit building. Preliminary architectural drawings from a similar development are available for reference. With strong visibility, substantial frontage, existing income, and potential redevelopment value, this is a rare opportunity to acquire a significant investment property in a difficult-to-replicate Worcester location. Any future development is subject to buyer due diligence and all required zoning, permitting, and city approvals.
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Additional Information
- Taxes
- $39,826
Mortgage Calculator
Listing courtesy of Listing Agent: James Kalogeropoulos from Listing Office: RE/MAX Partners.
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