NOT LISTED FOR SALE

5 Palm St Worcester, MA 01604

Union HIll Neighborhood
8 Beds
7.5 Baths
5,600 Sq Ft
0.26 Acres

Last Sold August 04, 2023

Last sale price $1,070,000 $191 Per Sq Ft

7 Days on Market

Highlights

  • Golf Course Community
  • 0.26 Acre Lot
  • Wood Flooring
  • Medical Services
  • Property is near public transit
  • Corner Lot

About This Home

As of August 2023

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.

Last Agent to Sell the Property

Benjamin Carbone

Lamacchia Realty, Inc. Listed on: 05/29/2023

Lamacchia Realty, Inc.

Co-Listed By

Brooke Coughlin

Lamacchia Realty, Inc.

Last Buyer's Agent

George Bahnan

Bahnan Realty Company

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,423

Year Built

  • Built in 1925

Lot Details

  • 0.26 Acre Lot
  • Corner Lot

Home Design

  • Stone Foundation
  • Frame Construction
  • Shingle Roof

Interior Spaces

  • 5,600 Sq Ft Home
  • Property has 1 Level
  • Basement Fills Entire Space Under The House
  • Washer Hookup

Flooring

  • Wood
  • Vinyl

Bedrooms and Bathrooms

  • 8 Bedrooms

Parking

  • 2 Car Parking Spaces
  • Open Parking
  • Off-Street Parking

Outdoor Features

  • Enclosed Patio or Porch
  • Outdoor Storage

Location

  • Property is near public transit
  • Property is near schools

Utilities

  • Natural Gas Connected
  • Gas Water Heater

Listing and Financial Details

  • Total Actual Rent $9,900
  • Assessor Parcel Number M:18 B:003 L:00196,1780074

Community Details

Overview

  • 7 Units

Amenities

  • Medical Services
  • Shops

Recreation

  • Golf Course Community

Building Details

  • Electric Expense $600
  • Insurance Expense $4,800
  • Water Sewer Expense $3,032
  • Operating Expense $22,355
  • Net Operating Income $92,881

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,423

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5-9 Family
  • Year Built: 1925
  • Buyer Agency: 2
  • Sub Agent Compensation: 2
  • Transaction Broker: 0
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: Yes
  • Compensation Based On: Gross/Full Sale Price
  • APOD AVAILABLE: No
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 3

Interior Features

  • Flooring: Wood,Vinyl
  • Fireplace YN: No
  • Appliances: Gas Water Heater, Utility Connections for Gas Range, Utility Connections Varies per Unit
  • Total Bedrooms: 8
  • Full Bathrooms: 7
  • Half Bathrooms: 1
  • Total Bathrooms: 8
  • Total Bathrooms: 7.5
  • Laundry Features: Washer Hookup
  • Basement: Full
  • Living Area: 5600
  • Spa YN: No
  • Stories Total: 3
  • MAIN LO: AN7224
  • LIST PRICE PER Sq Ft: 214.29
  • PRICE PER Sq Ft: 191.07
  • MAIN SO: AN3875

Exterior Features

  • Exterior Features: Storage
  • Construction Materials: Frame
  • Foundation Details: Stone
  • Home Warranty YN: No
  • Patio And Porch Features: Enclosed
  • Roof: Shingle
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: Off Street
  • Total Parking Spaces: 2

Utilities

  • Sewer: Public Sewer
  • Utilities: for Gas Range, Washer Hookup, Varies per Unit
  • Electric: Varies per Unit
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Golf, Medical Facility, Highway Access, Private School, Public School, University
  • Senior Community YN: No

Fee Information

  • Water Sewer Expenses: 3032

Lot Info

  • Parcel Number: M:18 B:003 L:00196,1780074
  • Zoning: RG-5
  • Farm Land Area Units: Square Feet
  • Lot Features: Corner Lot
  • Lot Size Acres: 0.26
  • Lot Size Area: 0.26
  • Lot Size Sq Ft: 11357
  • Lot Size Units: Acres
  • PAGE: 290
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 11423
  • Tax Book Number: 68527

Multi Family

  • Electric Expense: 600
  • Gross Income: 118800
  • Insurance Expense: 4800
  • Net Operating Income: 92881
  • Number Of Units Total: 7
  • Operating Expense: 22355
  • Total Actual Rent: 9900
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEVELS 2: 1
  • LEASE 4: Y
  • LEASE 3: N
  • LEASE 2: Y
  • LEASE 1: Y
  • FLRS 1: 1
  • FLRS 2: 1

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/04/2023 08/04/23 Sold $1,070,000 -10.8% $191 / Sq Ft
06/06/2023 06/06/23 Pending -- -- --
05/29/2023 05/29/23 For Sale $1,200,000 -- $214 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Benjamin Carbone

    Seller's Agent in 2023

    Benjamin Carbone

    Lamacchia Realty, Inc.

    (860) 382-6184

    1 in this area

    59 Total Sales

    Benjamin Carbone
    Section Image

  • B

    Seller Co-Listing Agent in 2023

    Brooke Coughlin

    Lamacchia Realty, Inc.

    (508) 612-0821

    1 in this area

    180 Total Sales

    Brooke Coughlin
    Section Image
  • George Bahnan

    Buyer's Agent in 2023

    George Bahnan

    Bahnan Realty Company

    (508) 635-7758

    2 in this area

    28 Total Sales

    George Bahnan
    Section Image
See All Agents

Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73115091

MLS Property Information Network (MLS PIN)
Massachusetts Worcester County Worcester 01604 Union HIll

5 Palm St, Worcester, MA

This home is located at 5 Palm St, Worcester, MA 01604 since 29 May 2023. This property was built in 1925. 5 Palm St is a home located in Worcester County with nearby schools including Jacob Hiatt Magnet School, Chandler Magnet, and Union Hill School.

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.

MLS Property Information Network (MLS PIN) 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.

Nearby Homes