11
See all 11 photos
$3,300,000
Est. payment /mo
36 Beds
12 Baths
12,428 SqFt
Active
59 Dover St Worcester, MA 01609
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Key Details
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,428 sqft
Price per Sqft $265
MLS Listing ID 73496378
Bedrooms 36
Full Baths 12
Year Built 1905
Annual Tax Amount $26,363
Tax Year 2025
Lot Size 0.320 Acres
Acres 0.32
Property Sub-Type 5-9 Family
Property Description
3-building, 9-unit multifamily bundle in Worcester's WPI District. 59 Dover St (3BR/3BR/3BR + garage, 3,004 SF), 172 Russell St (5BR/5BR/5BR, 4,712 SF), 176 Russell St (4BR/4BR/4BR, 3,972 SF). Combined 11,688 SF, built 1905-1915. Stabilized gross income $333,000/yr with $12,600 in scheduled increases. All units leased at market rent with near-zero vacancy driven by WPI student demand — 5,800+ students, only first-years guaranteed housing. 172 & 176 Russell are adjacent, offering management efficiencies. 172 Russell is the highest-income property at $136,800/yr. Most units extensively renovated with updated kitchens and modern finishes. Part of a larger 10-building, 30-unit WPI District Portfolio — remaining buildings also available individually or in additional bundles. Worcester County multifamily volume hit $710M in 2025 (3x 2024). Sellers are open to offers for the entire portfolio or individual groupings/buildings, creating a flexible acquisition opportunity. See MLS# 7348855
Location
State MA
County Worcester
Area Wpi
Zoning RL-7
Direction Institute Road to Dover St
Exterior
Garage Spaces 1.0
Total Parking Spaces 6
Garage Yes
Building
Story 5
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Others
Senior Community false
Listed by Douglas Elliman Real Estate - Park Plaza
NEARBY SCHOOL & BUSINESS
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