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WPI Porfolio 10 Build-to-Rent Properties Offered at £7,498,296 in Worcester, MA
Investment Highlights
- 10 buildings, 30 units (most extensively renovated), 4 with garage parking
- WPI Student Housing Demand
- Built-In Rent Growth
- Extensively Updated & Stabilized
- Predictable Turnover Schedule
Executive Summary
Rare 10-building, 30-unit multifamily portfolio in Worcester's desirable West Side, steps from WPI. Offered at $9,900,000 (7.1% cap, $330K/unit). Stabilized 2026-2027 gross income of $1,065,600 with NOI of $699,282. Unit mix includes 2BR-5BR apartments plus 4 garage spaces across 10 three-unit buildings. Most units have undergone extensive renovations and are in good condition. Student-driven tenant base provides consistent, scheduled annual turnover aligned with the academic calendar, keeping vacancy near zero. Located on Worcester's West Side — the city's most stable and desirable rental submarket — commanding higher rents than other areas. WPI (5820+ students, US News #82) drives reliable off-campus housing demand. Worcester County multifamily transaction volume hit $710M in 2025 with cap rates compressing to 7.2%. Portfolio available as a single transaction.
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- Offering Memorandum
Property Facts
| Price | £7,498,296 | Status | Active |
| Price psf | £195.27 / sq ft | Number of Properties | 10 |
| Sale Condition | Portfolio Sale | Individually For Sale | 0 |
| Yield | 7.06% | Total Property Size | 38,400 sq ft |
| Sale Type | Investment | Total Land Area | 1.37 ac |
| Price | £7,498,296 |
| Price psf | £195.27 / sq ft |
| Sale Condition | Portfolio Sale |
| Yield | 7.06% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 10 |
| Individually For Sale | 0 |
| Total Property Size | 38,400 sq ft |
| Total Land Area | 1.37 ac |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 172 Russell St, Worcester, MA 01609 | Build-to-Rent | 4,712 sq ft | 1915 | - |
| 34 Wachusett St, Worcester, MA 01609 | Build-to-Rent | 4,413 sq ft | 1870 | - |
| 26 Lee St, Worcester, MA 01602 | Build-to-Rent | 4,074 sq ft | 1893 | - |
| 188 Park Ave, Worcester, MA 01602 | Build-to-Rent | 4,005 sq ft | 1920 | - |
| 176 Russell St, Worcester, MA 01609 | Build-to-Rent | 3,972 sq ft | 1905 | - |
| 167 Highland St, Worcester, MA 01609 | Build-to-Rent | 3,800 sq ft | 1900 | - |
| 36 Westland St, Worcester, MA 01602 | Build-to-Rent | 3,636 sq ft | 1890 | - |
| 31 Lee St, Worcester, MA 01602 | Build-to-Rent | 3,444 sq ft | 1901 | - |
| 2 Haviland St, Worcester, MA 01602 | Build-to-Rent | 3,340 sq ft | 1890 | - |
| 59 Dover St, Worcester, MA 01609 | Build-to-Rent | 3,004 sq ft | 1905 | - |
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