8-21 Oread Street

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Address: 8-21 Oread Street, Worcester, Massachusetts, US
Created date: January 26, 2024
Date last updated: January 26, 2024
  • 3 brick buildings (12, 15 & 21 Oread St) on 5 parcels of land
  • Two additional parking lots (8 & 16 Oread St)
  • 75 Rooms, 22 1/2 baths
  • Ample off street parking
  • Historically built brick buildings
  • 15 & 21 Oread Street are listed in National Registry of Historic Places
  • Centrally located off of Main St in the Main South neighborhood

Property Description

Major investment opportunity within the multifamily sector near Downtown Worcester for sale. Located within the Worcester Federal Designated Opportunity zone right off of Main Street. Three licensed rooming houses, 12, 15 & 21, Oread Street offer a value-add investment opportunity that provides investors with the ability to reposition the assets to optimize income with new management and capital improvements. Included in the sale are two additional parking lots located at 8 and 16 Oread St, which may offer additional opportunities as well. 15 and 21 Oread Street have historical brick Victorian architecture with high ceilings throughout. The two have a combined square footage of 10,717 square feet and a total of 30 rooms and 6 1/2 bathrooms. Additionally, 12 Oread Street, a brick-built 14,899 square foot building includes 45 rooms and 16 bathrooms, plus a manager's apartment. The overwhelming demand for affordable housing in Worcester makes these properties a fantastic opportunity for the astute investor looking to capitalize on the ongoing revitalization of the downtown Worcester area.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Multifamily type: Apartments
Price: $3,550,000
No. of Units: 75
Year Built: 1900
Lot Size: 1.25 Sq ft
Opportunity Zone: No
Price per unit: $47,333
Property Website Click Here
Address: 21 Oread St #8, Worcester, MA 01608, USA
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