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