145 Eastern Ave, Worcester, MA 01605
- $695,900
- 7
- BD
- 3
- BA
- 3,446
- SqFt
- List Price
- $695,900
- Price Change
- ▼ $29,100 1780612603
- Status
- CONTINGENT
- MLS#
- 73481325
- Bedrooms
- 7
- Bathrooms
- 3
- Full Baths
- 3
- Living Area
- 3,446
- Lot Size (Acres)
- 0.09
- Year Built
- 1878
Property Description
INVESTMENT OPPORTUNITY | OWNER-OCCUPANT POTENTIAL! Discover the value and income potential of 145 Eastern Ave, Worcester. This multi-family property offers an excellent opportunity for investors or owner-occupants looking to build equity and maximize rental income. The property features three floors. The 1st-floor unit is currently vacant but was previously rented for $2,350/month, while the 2nd floor currently rents for $1,750/month and the 3rd floor rents for $1,900/month. The occupied units are currently rented below market, providing potential for increased rental income over time. Current Gross Rental Income: $3,650/month. Previous 1st-Floor Rent: $2,350/month2025 Property Taxes: $7,025The vacant first floor provides flexibility for an owner-occupant to live in the property while collecting rental income from the other two units, or for an investor to lease the unit and increase overall cash flow. Based on the previous first-floor rent, leasing the vacant unit at $2,350/month would bring the gross rental income to approximately $6,000/month, or $72,000 annually, before considering any future rent increases. The property also offers potential for a fourth unit, creating an additional value-add opportunity, subject to buyer due diligence, zoning, permitting, and applicable city requirements. Additional features include off-street parking, basement/utility areas, and a convenient Worcester location. Whether you're looking to house hack, expand your rental portfolio, or take on a value-add multi-family investment, 145 Eastern Ave offers multiple strategies for creating long-term value. Buyers and buyers' agents are encouraged to conduct their own due diligence regarding rents, expenses, zoning, permits, unit count, and potential fourth-unit conversion.
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Additional Information
- Taxes
- $7,025
- Interior Features
- Walk-In Closet(s), Mudroom
- Parking Description
- Off Street
- Lot Description
- Gentle Sloping
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Listing Agent: Patricia Yawson from Listing Office: Century 21 XSELL REALTY.
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