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Sold on 06/06/2023

5 Palm St, Worcester, MA 01604

$1,395,000

Last sold 06/06/2023 for $1.07M

  • 8

    bed

  • 8

    bath

  • 5,600

    Sqft ($191/Sqft)

Multi-family not for sale
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About 5 Palm St

Property type Multi-family
Neighborhood
Year built 1925
HOA fee $0/month
Lot size 0.26 Acre
Movoto estimate
Property 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 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.
Listed by
Listing Agent - Benjamin Carbone
Listing Office - Byrnes Real Estate Group LLC
Source: MLS Property Information Network, Inc. mls logo
MLS#73115091 • last updated 3 years ago
Movoto checked MLS Property Information Network, Inc. for data 8 minutes ago
Overview
Levels/Style 3
MLS # 73115091
Type Residential Income
Status Closed
SubType 5-9 Family
SqFt 5600
Lot Size (SqFt) 11357
Lot Size (Acres) 0.26
Annual Property Tax 11423
Year Built 1925
Interior
Total # of Bathrooms 8
# Full Baths 7
# Half Baths 1
Total # of Bedrooms 8
Basement Full
Total # of Rooms 21
Laundry Washer Hookup
Flooring Wood, Vinyl
Appliances Gas Water Heater, Utility Connections For Gas Range, Utility Connections Varies Per Unit
Exterior
Foundation Stone
Roof Shingle
Construction Frame
Parking Desc Off Street
# Parking Spaces 2
Exterior Features Storage
Patio/ Porch Enclosed
Lot Desc Corner Lot
Amenities / Utilities
Sewer Public Sewer
Utilities For Gas Range, Washer Hookup, Varies Per Unit
Electricity Varies Per Unit
Water Source Public
Location
County Worcester
Community Features Public Transportation, Shopping, Golf, Medical Facility, Highway Access, Private School, Public School, University
Zoning RG-5
APN M:18 B:003 L:00196, 1780074
Directions Take I-290 To Exit 18, RT-122, Follow Grafton St. At The Roundabout Take The Exit To Arthur Street.
Multifamily Details
Net Operating Income 92881
Operating Expense 22355
Total Actual Rent 9900
Financial Data Source Owner
Expense: Water/ Sewer 3032
Gross Income 118800
Expense: Electricity 600
$1.39M
Range: $1.25M-$1.53M
Last 30 days 
  • Aug 2023
    mls logo MLS # 73115091
  • Aug 5, 2023 Sold
    $1,070,000 (-10.8%)
  • May 29, 2023 Listed
    $1,200,000 (+281.0%)
  • May 2004
    Public Records
  • May 14, 2004 Sold
    $315,000
  • Year Property taxes Tax assessment
  • 2025
    $13,545 +17.3%
    $1,026,900 +22.29%
  • 2024
    $11,546 +1.1%
    $839,700 +5.41%
  • 2023
    $11,423 +7.8%
    $796,600 +14.29%
  • 2022
    $10,601 +17.9%
    $697,000 +26.15%
  • 2021
    $8,995 +25.5%
    $552,500 +31.08%
  • 2020
    $7,166
    $421,500
  • 5 Palm St
    $1.07M
  • Union Hill
    $275K -31% y/y
  • 01604
    $459K +15% y/y
  • Worcester
    $429K -4% y/y
No chart available
Statistics calculated by Movoto

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5/10
Jacob Hiatt Magnet School
public Grades PK, K-6
Worcester School District
3/10
Union Hill School
public Grades K-6
Worcester School District
3/10
Worcester East Middle School
public Grades 7-8
Worcester School District
4/10
University Pk Campus School
public Grades 7-12
Worcester School District
1/10
North High School
public Grades 9-12
Worcester School District
Source: GreatSchools.org © 2026. All rights reserved.

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