Justin Panarelli
Panarelli Properties, Inc.
(774) 300-3076
51 Total Sales
1 in University Park
$380,000 Price
2 Preston St Worcester, MA 01610
University Park Neighborhood
29
Beds
10
Baths
10,170
Sq Ft
2,863
Sq Ft Lot
Highlights
- Deck
- Wood Flooring
- Balcony
- Property is near public transit and schools
- Corner Lot
- Bathtub with Shower
About This Home
As of August 2026Immaculate 10-unit investment opportunity just hit the market in the heart of Worcester, MA. This well-maintained multifamily property features a desirable mix of spacious 2- and 3-bedroom units, making it highly attractive to long-term tenants. The current monthly rent roll is 21009.00 with all units participating in Section 8, offering investors the benefit of stable income. Annual rent increases have already been submitted and approved effective 4/1/2026, BRINGING IN ANNUALLY 30,420 to thr bottom line. Properties of this size, condition, and income stability rarely come to market, especially in one of the fastest-growing cities in Massachusetts. Ideal for both seasoned investors and those looking to expand their portfolio with a strong, low-risk asset. Open House Canceled
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $24,495
Year Built
- Built in 1900
Lot Details
- 2,863 Sq Ft Lot
- Corner Lot
Parking
- Off-Street Parking
Home Design
- Brick Exterior Construction
- Stone Foundation
- Tar and Gravel Roof
Interior Spaces
- 10,170 Sq Ft Home
- Insulated Windows
- Family Room
- Living Room
- Dining Room
- Storm Doors
- Range
- Washer and Electric Dryer Hookup
Flooring
- Wood
- Vinyl
Bedrooms and Bathrooms
- 29 Bedrooms
- 10 Full Bathrooms
- Bathtub with Shower
Basement
- Interior Basement Entry
- Dirt Floor
Outdoor Features
- Balcony
- Deck
Location
- Property is near public transit and schools
Utilities
- No Cooling
- 1 Heating Zone
- Baseboard Heating
- Separate Meters
- High Speed Internet
Listing and Financial Details
- Total Actual Rent $8,572
- Rent includes unit 1(heat water hot water), unit 2(heat water hot water), unit 3(heat water hot water), unit 4(heat water hot water)
- Assessor Parcel Number M:06 B:17C L:00044,1768374
Community Details
Overview
- 10 Units
- Property has 1 Level
Amenities
- Coin Laundry
Recreation
- Park
Building Details
- Electric Expense $2,402
- Insurance Expense $10,972
- Water Sewer Expense $12,800
- Operating Expense $71,382
- Net Operating Income $180,726
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 11, 2023
Closed on
Jun 9, 2023
Sold by
Bought by
Seller's Agent
Kimberly Rickman
OWN IT
Buyer's Agent
Brooke Coughlin
Lamacchia Realty, Inc.
List Price
$1,990,000
Sold Price
$1,775,000
Premium/Discount to List
-$215,000
-10.8%
Views
84
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,331,250
Outstanding Balance
$1,282,953
Interest Rate
6.43%
Mortgage Type
Commercial
Purchase Details
Listed on
Jun 28, 2016
Closed on
Feb 1, 2017
Sold by
Bought by
Seller's Agent
Jim Glickman
NAI Glickman Kovago & Jacobs
Buyer's Agent
Kimberly Rickman
OWN IT
List Price
$650,000
Sold Price
$550,000
Premium/Discount to List
-$100,000
-15.38%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
20.26%
Original Mortgage
$600,000
Interest Rate
4.3%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 20, 2006
Sold by
Bought by
Purchase Details
Closed on
Feb 27, 2004
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in University Park, MA
-
Justin Panarelli
-
Gabriel Vieira
Gabriel Vieira
Mega Realty Services
(508) 469-5014
52 Total Sales
1 in University Park
$770,000 Price
-
Jeff Marget
Jeff Marget
Lamacchia Realty, Inc.
(978) 736-6021
3 Total Sales
1 in University Park
$2,300,000 Price
-
Marie Presti
Marie Presti
Barrett Sotheby's International Realty
(857) 336-1481
105 Total Sales
1 in University Park
$667,500 Price
-
Katie Bilotta
Katie Bilotta
ERA Key Realty Services - Worcester
(508) 552-9412
44 Total Sales
1 in University Park
$267,000 Price
-
Myai Emery-Le
Myai Emery-Le
Emery-Le Team Realty, LLC
(508) 552-4898
41 Total Sales
1 in University Park
$644,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | $1,775,000 | None Available | |
| Quit Claim Deed | $550,000 | -- | |
| Deed | $615,000 | -- | |
| Deed | $548,000 | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,331,250 | Commercial | |
| Previous Owner | $35,000 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $600,000 | Commercial |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/12/2026 08/12/26 | Sold | $2,300,000 | -4.1% | $226 / Sq Ft | |
| 02/20/2026 02/20/26 | Pending | -- | -- | -- | |
| 02/09/2026 02/09/26 | For Sale | $2,399,000 | +35.2% | $236 / Sq Ft | |
| 06/09/2023 06/09/23 | Sold | $1,775,000 | -10.8% | $175 / Sq Ft | View Prior Sale |
| 04/20/2023 04/20/23 | For Sale | $1,990,000 | 0.0% | $196 / Sq Ft | |
| 04/19/2023 04/19/23 | Pending | -- | -- | -- | |
| 04/17/2023 04/17/23 | Pending | -- | -- | -- | |
| 04/11/2023 04/11/23 | For Sale | $1,990,000 | +261.8% | $196 / Sq Ft | |
| 02/01/2017 02/01/17 | Sold | $550,000 | -7.6% | $54 / Sq Ft | View Prior Sale |
| 12/08/2016 12/08/16 | Pending | -- | -- | -- | |
| 09/19/2016 09/19/16 | Price Changed | $595,000 | -4.8% | $59 / Sq Ft | |
| 07/25/2016 07/25/16 | Price Changed | $625,000 | -3.8% | $61 / Sq Ft | |
| 06/28/2016 06/28/16 | For Sale | $650,000 | -- | $64 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $24,495 | $1,857,100 | $200,000 | $1,657,100 |
| 2024 | $18,497 | $1,345,200 | $700,000 | $645,200 |
| 2023 | $20,108 | $1,402,200 | $600,000 | $802,200 |
| 2022 | $17,756 | $1,167,400 | $550,000 | $617,400 |
| 2021 | $14,800 | $909,100 | $375,000 | $534,100 |
| 2020 | $13,372 | $786,600 | $375,000 | $411,600 |
| 2019 | $12,872 | $715,100 | $375,000 | $340,100 |
| 2018 | $13,158 | $695,800 | $375,000 | $320,800 |
| 2017 | $13,373 | $695,800 | $375,000 | $320,800 |
| 2016 | $9,083 | $440,700 | $137,500 | $303,200 |
| 2015 | $8,845 | $440,700 | $137,500 | $303,200 |
| 2014 | $8,611 | $440,700 | $137,500 | $303,200 |
Source: Public Records
Agents Affiliated with this Home
-
We Close Deals Team
W
Seller's Agent in 2026
We Close Deals Team
Lamacchia Realty, Inc.
(508) 612-0821
1 in this area
191 Total Sales
-
Jeff Marget
Seller Co-Listing Agent in 2026
Jeff Marget
Lamacchia Realty, Inc.
(978) 902-4523
1 in this area
3 Total Sales
-
Candor Investment Group
C
Buyer's Agent in 2026
Candor Investment Group
eXp Realty LLC
1 in this area
53 Total Sales
-
Kimberly Rickman
Seller's Agent in 2023
Kimberly Rickman
OWN IT
(508) 667-4931
2 in this area
60 Total Sales
-
Brooke Coughlin
Buyer's Agent in 2023
Brooke Coughlin
Lamacchia Realty, Inc.
(508) 612-0821
3 in this area
219 Total Sales
-
Jim Glickman
Seller's Agent in 2017
Jim Glickman
NAI Glickman Kovago & Jacobs
(508) 459-4279
27 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73475427
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
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