2 Preston St

10,170 Sq. Ft.
$175 / Sq. Ft.
10,170
Sq. Ft.
$175
per Sq. Ft.

Description

Incredible investment opportunity! 8% cap and over $217,800 in operating income. This well maintained fully occupied 10 unit brick building offers (9) 3-bedroom units and (1) 2-bedroom unit has been updated and well maintained over the years. 9/10 units are lead certified and features hardwood floors, updated kitchens, updated electrical with 100amp panel in each unit, hot water baseboard heating and laundry in unit. The building has undergone replacement of major components, including replacement...Incredible investment opportunity! 8% cap and over $217,800 in operating income. This well maintained fully occupied 10 unit brick building offers (9) 3-bedroom units and (1) 2-bedroom unit has been updated and well maintained over the years. 9/10 units are lead certified and features hardwood floors, updated kitchens, updated electrical with 100amp panel in each unit, hot water baseboard heating and laundry in unit. The building has undergone replacement of major components, including replacement of rear decks, all new electrical, baseboard heating serviced by (2) Buderus boilers and 2 Superstor Hot Water storage tanks. Building has had air sealing and insulation added to attic space. 7 security cameras with remote operation. All long-term tenants paying great rents.
  1. Listed by Kimberly Rickman • OWN IT, A 100% Commission Brokerage

Property Details for 2 Preston Street

Town
Worcester
Area
MA-Worcester
Garage Spaces
0
Open Parking Spaces
.00
LISTING UPDATED: 06/10/2023 07:52 AM

Property Details for 2 Preston Street

StatusSold
MLS #73097325
Days on Market15
Taxes$20,108 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5+ Family - 5+ Units Up/Down
Year Built1910
CountyWorcester County

Location

Listing Courtesy of OWN IT, A 100% Commission Brokerage, Kimberly Rickman

Sold By Byrnes Real Estate Group LLC, Brooke Packard

Add your commute

Building Information for 2 Preston Street

Stories5Residences10Year Built1910Building Size-Lot Size0.07 AC / 3,049 SF

Payment Calculator

$10,290 per month

30 year fixed, 6.11% Interest

Principal and Interest

$8,614

Property Taxes

$1,676

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 2 Preston Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Swimming Pool, Tennis Court, Park, Medical Facility, Laundromat, Highway Access, House of Worship, Public School
  • Current Financing: Conv. Fixed
  • Living Area: 10170.0
  • SqFt with Basement: No
  • Total Units: 10
  • Waterfront: No
  • Year Built Details: Actual
  • Year Built Source: Public Records
Features
Interior Features
  • Appliances: Unit 1(Range, Refrigerator), Unit 2(Range, Gas Water Heater, Utility Connections for Gas Range
  • Basement Features: Full, Interior Access, Dirt Floor
  • Num of Baths: 10.0
  • Num of Full Baths: 10
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 10.00
  • Bathrooms Total Integer: 10
  • FireplaceYN: No
  • Fireplaces: 0
  • Flooring: Laminate, Hardwood
  • Interior Features: Unit 1 Rooms(Living Room, Kitchen), Unit 2 Rooms(Living Room
  • Laundry Features: Unit 1 Laundry Room, Unit 2 Laundry Room
  • SpaYN: No
Exterior Features
  • Construction: Brick
  • Exterior Features: Deck
  • Lot Description: Corner Lot
  • Patio And Porch Features: Deck
  • Roof Material: Rubber
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Open Parking: Yes
Utilities
  • Cooling: Unit 1(None)
  • Cooling: No
  • Electric: Circuit Breakers, 100 Amp Service, Individually Metered
  • Heating: Unit 1(Gas)
  • Heating: Yes
  • Sewer: City/Town Sewer
  • Utility Connections: for Gas Range
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
  • Disclosures: List agent also has ownership interest. Unit 4 has not been updated; tenants are vacating 5/31/23. Lead certs available for 9 units. PCAD for unit 3 indicates some hazards. Sale is subject to 1031 exchange. seller already located property.
Tax Information
  • Tax ID: M:06 B:17C L:00044,1768374
  • Assessments: $1,402,200
  • Book: 56695
  • Tax Year: 2023
  • Zoning: RG-5
Building / Association Information
Living Characteristics
  • Beds Total: 29
  • Total Living Levels: 5
Other Building Characteristics
  • Foundation: Block, Brick/Mortar
  • Cooling Units: 0
  • Cooling Zones: 0
  • Heat Zones: 10
Income / Expenses
  • Electricity: $3,000.00
  • Annual Expenses Source: Owner
  • GOI: $217,800.00
  • Gross Scheduled Income: $12,000.00
  • Insurance: $5,500.00
  • GRE: $59,950
  • RFS: $2,400
  • RME: $4,000
  • NOI: $157,850.00
  • Operating Expense: $59,950.00
  • WSE: $12,000.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 2
  • Lease U2: Y
  • Levels U2: 1
Rental Info
Rental Info
  • Total Actual Rent: $18,150.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2
  • Other Agent Compensation: 1

Property History for 2 Preston Street

DateEvent & SourcePriceAppreciation
Feb 20, 2026

Under Agreement

MLS PIN #73475427

—
Feb 20, 2026

Contingent

MLS PIN #73475427

—
Feb 9, 2026

Listed (Active)

MLS PIN #73475427

$2,399,000—
Jun 9, 2023

Sold

MLS PIN #73097325

$1,775,000—
Apr 19, 2023

Under Agreement

MLS PIN #73097325

—
Apr 19, 2023

Contingent

MLS PIN #73097325

—
Apr 11, 2023

Listed (Active)

MLS PIN #73097325

$1,990,000—
Feb 1, 2017

Sold

MLS PIN #72030541

$550,000—
Dec 8, 2016

Under Agreement

MLS PIN #72030541

—
Dec 8, 2016

Contingent

MLS PIN #72030541

—
Jun 28, 2016

Listed (Active)

MLS PIN #72030541

$650,000—
Apr 30, 2009

Expired

MLS PIN #70865366

$532,000—
Jan 18, 2009

Listed (Active)

MLS PIN #70865366

$532,000—
Oct 12, 2007

Expired

MLS PIN #70561548

$775,000—
Apr 18, 2007

Listed (Active)

MLS PIN #70561548

$775,000—
Jul 20, 2006

Sold (Public Record)

Public Record #201445462

$615,000

+4.9% / yr

Aug 20, 2005

Expired

MLS PIN #70197154

$799,900—
May 24, 2005

Listed (Active)

MLS PIN #70197154

$799,900—
May 9, 2005

Expired

MLS PIN #70146770

$799,900—
Feb 16, 2005

Listed (Active)

MLS PIN #70146770

$799,900—
May 10, 2004

Sold

MLS PIN #30797341

$548,000—
Feb 27, 2004

Sold (Public Record)

Public Record #132811269

$548,000—
Jan 12, 2004

Contingent

MLS PIN #30797341

—
Dec 17, 2003

Listed (Active)

MLS PIN #30797341

$600,000—
Jun 8, 2002

Expired

MLS PIN #30608410

$600,000—
May 17, 2002

Listed (Active)

MLS PIN #30608410

$600,000—
Dec 11, 2001

Expired

MLS PIN #30545569

$600,000—
Sep 25, 2001

Listed (Active)

MLS PIN #30545569

$600,000—
Aug 30, 1995

Expired

MLS PIN #30015435

$138,900—
Nov 3, 1994

Listed (Active)

MLS PIN #30015435

$1,389,000—
DateEvent & SourcePrice
02/20/2026

Under Agreement

MLS PIN #73475427

—
02/20/2026

Contingent

MLS PIN #73475427

—
02/09/2026

Listed (Active)

MLS PIN #73475427

$2,399,000
06/09/2023

Sold

MLS PIN #73097325

$1,775,000
04/19/2023

Under Agreement

MLS PIN #73097325

—
04/19/2023

Contingent

MLS PIN #73097325

—
04/11/2023

Listed (Active)

MLS PIN #73097325

$1,990,000
02/01/2017

Sold

MLS PIN #72030541

$550,000
12/08/2016

Under Agreement

MLS PIN #72030541

—
12/08/2016

Contingent

MLS PIN #72030541

—
06/28/2016

Listed (Active)

MLS PIN #72030541

$650,000
04/30/2009

Expired

MLS PIN #70865366

$532,000
01/18/2009

Listed (Active)

MLS PIN #70865366

$532,000
10/12/2007

Expired

MLS PIN #70561548

$775,000
04/18/2007

Listed (Active)

MLS PIN #70561548

$775,000
07/20/2006

Sold (Public Record)

Public Record #201445462

$615,000

+4.9% / yr

08/20/2005

Expired

MLS PIN #70197154

$799,900
05/24/2005

Listed (Active)

MLS PIN #70197154

$799,900
05/09/2005

Expired

MLS PIN #70146770

$799,900
02/16/2005

Listed (Active)

MLS PIN #70146770

$799,900
05/10/2004

Sold

MLS PIN #30797341

$548,000
02/27/2004

Sold (Public Record)

Public Record #132811269

$548,000
01/12/2004

Contingent

MLS PIN #30797341

—
12/17/2003

Listed (Active)

MLS PIN #30797341

$600,000
06/08/2002

Expired

MLS PIN #30608410

$600,000
05/17/2002

Listed (Active)

MLS PIN #30608410

$600,000
12/11/2001

Expired

MLS PIN #30545569

$600,000
09/25/2001

Listed (Active)

MLS PIN #30545569

$600,000
08/30/1995

Expired

MLS PIN #30015435

$138,900
11/03/1994

Listed (Active)

MLS PIN #30015435

$1,389,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2 Preston Street

Taxable ValueLand$200,000Additions$1,657,100Total$1,857,100
Tax Record2025$24,495 ($2,041 / month)
Home Facts
Total Finished SqFt11,405 SqFtAbove Grade Finished SqFt11,405 SqFtUnfinished Basement SqFt2,281 SqFtStories5Lot Size2,863 SqFtStyleMulti-Family Res (5+ Units)Year Built1910ZoningRG-5CountyWORCESTERAPNWORC M:06 B:17C L:00044

Schools near 2 Preston Street

This home is within Worcester School District.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - PK to 6
Public - K to 6
Public - 7 to 8
Rating
School
Distance
Chandler Magnet School
PublicPK to 6

Jacob Hiatt Magnet School
PublicPK to 6

Chandler Elementary Community School
PublicK to 6

Forest Grove Middle School
Public7 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of OWN IT, A 100% Commission Brokerage, Kimberly Rickman

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.