172 Russell St Worcester, MA 01609
Elm Park NeighborhoodEstimated payment $60,490/month
Total Views
14,899
99
Beds
36
Baths
9,999
Sq Ft
$990
Price per Sq Ft
Highlights
- 2.3 Acre Lot
- 4 Car Garage
- 2-minute walk to Elm Park
- Corner Lot
About This Home
Rare 10-building, 30-unit multifamily portfolio on Worcester’s desirable West Side, steps from WPI. Offered at $9,900,000 ($330K/unit, 7.1% cap). Stabilized projected 2026-2027 gross income of $1,065,600 with NOI of $699,282. Portfolio features a mix of 2BR-5BR apartments plus 4 garage spaces across 10 three-unit buildings. Most units have been extensively renovated and are in good condition. Student-driven tenant base provides reliable demand, scheduled annual turnover aligned with the academic calendar, and historically near-zero vacancy. Located in Worcester’s most stable and sought-after rental submarket with strong rent growth and consistent off-campus housing demand. Sellers are open to offers for the entire portfolio or individual groupings/buildings, creating a flexible acquisition opportunity. Full Offering Memorandum attached to MLS.
Listing Agent
Douglas Elliman Real Estate - Park Plaza Listed on: 03/18/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $86,074
Lot Details
- 2.3 Acre Lot
- Corner Lot
Parking
- 4 Car Garage
- Driveway
- 18 Open Parking Spaces
Home Design
- 9,999 Sq Ft Home
- Block Foundation
- Concrete Perimeter Foundation
Bedrooms and Bathrooms
- 99 Bedrooms
- 36 Full Bathrooms
Community Details
Overview
- 30 Units
- Property has 1 Level
Building Details
- Operating Expense $366,318
- Net Operating Income $699,382
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $10,015 | $759,300 | $78,700 | $680,600 |
| 2024 | $9,092 | $661,200 | $78,700 | $582,500 |
| 2023 | $8,732 | $608,900 | $68,400 | $540,500 |
| 2022 | $7,607 | $500,100 | $54,800 | $445,300 |
| 2021 | $7,142 | $438,700 | $43,800 | $394,900 |
| 2020 | $4,942 | $396,200 | $43,500 | $352,700 |
| 2019 | $4,900 | $272,200 | $38,000 | $234,200 |
| 2018 | $4,777 | $252,600 | $38,000 | $214,600 |
| 2017 | $4,467 | $232,400 | $38,000 | $194,400 |
| 2016 | $4,287 | $208,000 | $27,500 | $180,500 |
| 2015 | $4,175 | $208,000 | $27,500 | $180,500 |
| 2014 | $4,055 | $207,500 | $27,500 | $180,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/18/2026 03/18/26 | For Sale | $9,900,000 | -- | $990 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Not Resolvable | $420,000 | -- | |
| Deed | $85,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $59,500 | Purchase Money Mortgage |
Source: Public Records
About the Listing Agent
The Brody Murphy Novak Group (BMN Boston) stands among the upper echelon of Boston's luxury real estate teams, combining unparalleled market knowledge with personalized service. Ranked as a Top 3 small team at Douglas Elliman and recognized as the #1 small team for transactions in 2024, BMN Boston brings together over 25 years of combined experience and more than $500 million in sales volume. The team's success stems from their unique ability to blend sophisticated market analysis with genuine
Brody Murphy's Other Listings
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73488551
APN: WORC-000011-000004-000010
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