Off Market
53 Institute Rd, Worcester, MA
Worcester · MA 01609
- $19,700,000
- Price
- 9
- Beds
- 13.5
- Baths
- 49315
- Sq. ft.
Overview
Property type:
Multi-Family
Year built:
Built in 9999
Units:
99 Units
Lot size:
2.98 Acres Lot
Price per square foot:
$399 / Sq.Ft
Parking:
9 Garage Spaces · 9 Off Street Spaces
About this home
Presenting 53 West Street, part of The Worcester Portfolio located in the coveted Elm Park neighborhood of Worcester, MA. The portfolio, an irreplaceable collection of nine (9) former mansions, is configured for short-term rental and dormitory use. The buildings are 100% leased to a local university through July 2029. The portfolio consists of 262 beds across 122 bedrooms in the 9 buildings, with a mixture of shared and private bathrooms and common facilities. Substantially renovated in 2021/2022, and exceptionally located in the heart of Worcester, the Worcester Portfolio is a rare investment opportunity that offers attractive and secure cash flow and significant long-term upside. The portfolio is offered for sale with an asking price and $19,700,000, equating to 7.0% cap rate on the in-place income.
Neighborhood & Transit
53 Institute Rd, Worcester · MA 01609
Nearby transit
Within 0.5 mile, measured straight-line to the nearest station entrance.
No subway or commuter rail stations within 0.5 mile.
Price Insight
- Days on Market:
- 1233 days
- Listing Price:
- $19,700,000
- Price per Sq.Ft:
- $399
- Tax Assessment:
- $9 in 09
- Taxes:
- $1 / Monthly
Home Facts
Interior Features
- Bedrooms
- 9
- Full Bathrooms
- 9
- Half Bathrooms
- 9
- Living Area
- 49,315 Sq.Ft
- Kitchen
- Unknown
- Primary Bedroom
- Unknown
- Laundry
- Unknown
- Living levels
- Unknown
- Rooms
- Unknown
- Above grade area
- 49315
- Flooring
- Unknown
- Lead paint
- None
Utilities
- Heating Type
- Unknown
- Heating Zone
- Unknown
- Cooling
- Unknown
- Cooling Zones
- Unknown
- Water
- Unknown
- Sewer
- Unknown
- Electric Features
- Unknown
Exterior Features
- Lot Size
- 129,734 Sq.Ft
- Lot Description
- Unknown
- Exterior Features
- Unknown
Parking
- Garage Parking
- 9 Parking Spaces
- Off Street Parking
- 9 Parking Spaces
Construction Details
- Construction Type
- Unknown
- Siding
- Other (See Remarks)
- Roof
- Unknown
Green Features
- Electric Vehicle Charger
- Unknown
- Solar Panels
- Unknown
- Green Certified
- Unknown
- Insulation Features
- Unknown
- Energy Features
- Unknown
Listing information
- Listing agent
- Christopher Sower
- Listing office
- Cushman & Wakefield
- MLS PIN #
- 73126439