216-228 Park Avenue
$3,900,000
15,239
Sqft
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$3,900,000
15,239
Living Area
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Property Description
An exceptional opportunity to acquire a prominent four-property investment portfolio situated on a 39,478-square-foot site at one of Worcester’s most visible and sought-after corners. The portfolio consists of a 14-room rooming house, a 15-room rooming house, a three-family property with tenants at will and below-market rents, and a fully renovated single-family residence. The offering includes approximately 20 off-street parking spaces and provides multiple income streams with additional upside through rent growth and future asset stabilization. The parking-lot area may also offer the potential to construct a three-story, six-unit building. Preliminary architectural drawings from a similar development are available for reference. With strong visibility, substantial frontage, existing income, and potential redevelopment value, this is a rare opportunity to acquire a significant investment property in a difficult-to-replicate Worcester location. Any future development is subject to buyer due diligence and all required zoning, permitting, and city approvals.
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Highlights
- Property Class: Commercial Sale
- Status: Active
- Year Built: 1890
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Additional Details
- Roof: Asphalt/Composition Shingles
- Zoning Description: Legal Conforming
- Zoning: Rs-7, Bo-1
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Fees / Taxes
- Tax Year: 2026
- Taxes: $39,826
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Listing information provided courtesy of RE/MAX Partners.
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