MA
Worcester
Worcester
01609
172-176 Russell St
172-176 Russell St, Worcester, MA 01609
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Listing Type
Multi Family
Listing Status
Active
15
$9,900,000

Home Details for 172-176 Russell St

Price
$9,900,000
Type
Residential Income
Bedrooms
99
Total Bathrooms
36
Full Bathrooms
36
Square feet
9999
Lot size acres
2.3
County
Worcester
Total rooms
99
Garage
4
MLS Listing#
73488551
Property Description

Rare 10-building, 30-unit multifamily portfolio in Worcester's desirable West Side, steps from WPI. Offered at $9,900,000 (7.1% cap, $330K/unit). Stabilized 2026-2027 gross income of $1,065,600 with NOI of $699,282. Unit mix includes 2BR-5BR apartments plus 4 garage spaces across 10 three-unit buildings. Most units have undergone extensive renovations and are in good condition. Student-driven tenant base provides consistent, scheduled annual turnover aligned with the academic calendar, keeping vacancy near zero. Located on Worcester's West Side — the city's most stable and desirable rental submarket — commanding higher rents than other areas. WPI (5820+ students, US News #82) drives reliable off-campus housing demand. Worcester County multifamily transaction volume hit $710M in 2025 with cap rates compressing to 7.2%. Portfolio available as a single transaction. Full Offering Memorandum attached to MLS

Property Features
  • Water Features
    • Public
  • Parking
    • Paved
Listing Courtesy: Douglas Elliman Real Estate - Park Plaza - 617-267-3500
Presented by: Brody Murphy Novak Group
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Market statistics compiled from data from Massachusetts Association of REALTORS.
EXIT PREMIER REAL ESTATE
85 Wilmington Road, Burlington, MA 01803
Brenda Cahoon
License #: 9049354
REALTOR®, MAR
Office
781 270 4770
Agent
781 910 5770
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