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Joanne Tassoni

joannetassonibroker@gmail.com +1(603) 722-5235

$ 1,000,000

Est. payment -/mo

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22 Florence St Worcester, MA 01610

10 Beds

5 Baths

3,254 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5+ Family - 5+ Units Up/Down

Listing Status Active

Purchase Type For Sale

Square Footage 3,254 sqft

Price per Sqft $307

MLS Listing ID 73561773

Bedrooms 10

Full Baths 5

Year Built 1890

Annual Tax Amount $7,635

Tax Year 2026

Lot Size 6,969 Sqft

Acres 0.16

Property Sub-Type 5+ Family - 5+ Units Up/Down

Property Description

The multi-story building contains five (5) 2-Bedroom/1-Bathroom units with 3,254 square feet of gross living area in 5,526 square feet of gross area. The Property is situated upon a 0.16-acre parcel and has on-street parking. All five units were recently renovated. Renovations include brand new kitchens, new flooring, and new bathrooms. Several of the units were also upgraded with brand new mini split air conditioning units. The Property is currently fully occupied at slightly below market rents offering upside to the purchaser with little to no additional expenditure needed. Net operating income is further improved by separately metered heat, hot water, and electricity which the tenants pay directly. The owner is only responsible for domestic water & sewer. 22 Florence Street is well-positioned in Worcester's established Vernon Hill neighborhood just steps from Clark University. This offers convenient access to downtown Worcester, neighborhood retail corridors, and surrounding residential communities. The opportunity exists to acquire a well maintained and recently improved asset in a desirable urban market. Listed at an 8.34% cap rate.

Location

State MA

County Worcester

Zoning RG-5

Direction Please Use GPS.

Rooms

Basement Unfinished

Interior

Heating Natural Gas, Electric

Cooling Ductless

Exterior

Community Features Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/Jog Trails, Stable(s), Golf, Medical Facility, Laundromat, Bike Path, Conservation Area, Highway Access, House of Worship, Private School, Public School, T-Station, University, Other

Roof Type Shingle

Garage No

Building

Lot Description Other

Story 5

Foundation Other

Sewer Public Sewer

Water Public

Others

Senior Community false

Listed by Horvath & Tremblay

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Phone

+1(603) 722-5235

joannetassonibroker@gmail.com

Address

170 Commerce Way, Portsmouth, New Hampshire 03801, USA