MA
Worcester
Athol
01331
159 Park St
159 Park St, Athol, MA 01331
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Listing Type
Multi Family
Listing Status
Active
20
$1,250,000

Home Details for 159 Park St

Price
$1,250,000
Type
Residential Income
Bedrooms
16
Total Bathrooms
11
Full Bathrooms
11
Square feet
7211
Year built
1880
Lot size acres
0.26
County
Worcester
Total rooms
49
Garage
6
Basement
Concrete, Unfinished
MLS Listing#
73565928
Property Description

An 11-unit, two-building multifamily asset held on a single 0.26-acre parcel in Athol's village center. Ten of eleven units are currently occupied, generating approximately $12,000 per month in collections. Applying a conservative 35% operating expense load, in-place net operating income of approximately $93,600 supports an as-is capitalization rate of 7.5% at the asking price — a going-in return available on day one, before any repositioning. The two buildings comprise 7,211 square feet of living area. Both are wood-frame construction over full basements. A detached garage structure on the parcel provides additional income potential and utility, and coin-operated laundry in the basement generates ancillary revenue beyond scheduled rents. Tenants are responsible for heat and electricity. Four units have been recently renovated. The single vacancy offers immediate lease-up upside without renovation risk, and in-place rents sit around current Athol submarket benchmarks. Occupancy has strengthened over the current ownership period, demonstrating absorption at scale in a submarket where comparable multifamily inventory is limited. Both buildings are carried under one parcel and one tax bill — Assessor Map 32, Lot 169 — simplifying acquisition, financing, title work, and ongoing administration relative to a two-property portfolio. FY2026 real estate taxes are $7,823 on an assessed value of $617,500, against Athol's single tax rate of $12.67 per $1,000. Athol anchors the North Quabbin region with direct Route 2 access to Gardner, Fitchburg, and Greenfield. The subject sits in the village center within walking distance of Main Street services, supporting consistent tenant demand at workforce rent levels. Financial package, rent roll, and property records available to qualified parties.

Property Features
  • Basement
    • Concrete
    • Unfinished
  • Water Features
    • Public
Listing Courtesy: The Hive Real Estate LLC - 860-786-2854
Presented by: Michael Videtta
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EXIT NEW OPTIONS REAL ESTATE
12 Main Street, Leominster, MA 01453
Office
888 363 3948
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