5 Palm Street

Worcester, MA 01604

$1,070,000
Last Sold Price
8
Beds
7
Baths
1
1/2 Bath
5,600 Sq. Ft.
$191 / Sq. Ft.
5,600
Sq. Ft.
$191
per Sq. Ft.

Description

Incredible investment opportunity! Rare, well maintained 7 unit property with just under an 8% cap rate and a monthly rent roll of $9,900 with room for growth. (4) 1-bedroom units, (2) 2-bedroom units, (1) 2 story 2-bedroom cottage 9230 square feet on .26 acre lot. All units are separately metered and tenants pay their own utilities. The location is hard to beat being minutes to all major highways, the train station, airport, restaurants, shopping, hospitals, colleges/universities and Polar Park...Incredible investment opportunity! Rare, well maintained 7 unit property with just under an 8% cap rate and a monthly rent roll of $9,900 with room for growth. (4) 1-bedroom units, (2) 2-bedroom units, (1) 2 story 2-bedroom cottage 9230 square feet on .26 acre lot. All units are separately metered and tenants pay their own utilities. The location is hard to beat being minutes to all major highways, the train station, airport, restaurants, shopping, hospitals, colleges/universities and Polar Park making it an ideal location for all tenants and for APPRECIATION! Group showing Sunday June 4th 11am-2pm. Investors, you won’t want to miss this! View Offer Memorandum in attached documents for further details.
  1. Listed by Benjamin Carbone • Byrnes Real Estate Group LLC
  2. Listed by Brooke Packard • Byrnes Real Estate Group LLC

Property Details for 5 Palm Street

Town
Worcester
Area
MA-Worcester
Garage Spaces
0
Parking Spaces
2.00
Parking Spaces Total
2

Location

Listing Courtesy of Byrnes Real Estate Group LLC, Benjamin Carbone; Byrnes Real Estate Group LLC, Brooke Packard

Sold By Top View Realty, George Bahnan

Add your commute
LISTING UPDATED: 08/05/2023 03:10 PM

Property Details for 5 Palm Street

StatusSold
MLS #73115091
Days on Market8
Taxes$11,423 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5-9 Family
Year Built1925
CountyWorcester County

Location

Listing Courtesy of Byrnes Real Estate Group LLC, Benjamin Carbone; Byrnes Real Estate Group LLC, Brooke Packard

Sold By Top View Realty, George Bahnan

Add your commute

Building Information for 5 Palm Street

Stories3Residences7Year Built1925Building Size-Lot Size0.26 AC / 11,357 SF

Payment Calculator

$6,791 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,839

Property Taxes

$952

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5 Palm Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Golf Course, Medical Facility, Highway Access, Private School, Public School, University
  • Current Financing: Conv. Fixed
  • Living Area: 5600.0
  • SqFt with Basement: No
  • Total Units: 7
  • Waterfront: No
  • Water View: No
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Appliances: Gas Water Heater, Utility Connections for Gas Range, Utility Connections Varies per Unit
  • Basement Features: Full
  • Num of Baths: 8.0
  • Num of Full Baths: 7
  • Num of Half Baths: 1
  • Bathrooms Total Decimal: 7.50
  • Bathrooms Total Integer: 8
  • FireplaceYN: No
  • Fireplaces: 0
  • Flooring: Wood, Vinyl
  • Laundry Features: Washer Hookup
  • SpaYN: No
Exterior Features
  • Construction: Frame
  • Exterior Features: Storage Shed
  • Exterior Features: Storage Shed, Porch - Enclosed
  • Lot Description: Corner Lot
  • Patio And Porch Features: Enclosed
  • Roof Material: Shingle
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Off-Street
  • Open Parking: Yes
  • Parking Features: Off-Street
  • Parking Features: Off-Street
Utilities
  • Electric: Varies per Unit
  • Sewer: City/Town Sewer
  • Utility Connections: for Gas Range, Washer Hookup, Varies per Unit
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
Tax Information
  • Tax ID: M:18 B:003 L:00196,1780074
  • Assessments: $796,600
  • Book: 68527
  • Tax Year: 2023
  • Zoning: RG-5
Building / Association Information
Living Characteristics
  • Beds Total: 8
  • Total Living Levels: 3
Other Building Characteristics
  • Foundation: Stone
Income / Expenses
  • Electricity: $600.00
  • Annual Expenses Source: Owner
  • GOI: $118,800.00
  • Gross Scheduled Income: $.00
  • Insurance: $4,800.00
  • GRE: $22,355
  • RME: $2,500
  • NOI: $92,881.00
  • Operating Expense: $22,355.00
  • WSE: $3,032.00
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: 1
  • Lease U2: Y
  • Levels U2: 1
Unit 3 Description
  • Lease U3: N
Unit 4 Description
  • Lease U4: Y
Rental Info
Rental Info
  • Total Actual Rent: $9,900.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2
  • Selling Broker Comp: 2
  • Other Agent Compensation: 0

Property History for 5 Palm Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 5 Palm Street

Taxable ValueLand$29,600Additions$767,000Total$796,600
Tax Record2023$11,423 ($952 / month)
Home Facts
Baths7.5Total Finished SqFt5,600 SqFtAbove Grade Finished SqFt5,600 SqFtUnfinished Basement SqFt2,226 SqFtStories3Lot Size11,357 SqFtStyleMulti-Family Res (5+ Units)Year Built1925ZoningRG-5CountyWORCESTERAPNWORC M:18 B:003 L:00196

Schools near 5 Palm 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
Jacob Hiatt Magnet
PublicPK to 6

Chandler Magnet
PublicPK to 6

Union Hill School
PublicK to 6

Worcester East 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

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Similar Sold Homes

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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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Byrnes Real Estate Group LLC, Benjamin Carbone; Byrnes Real Estate Group LLC, Brooke Packard

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.