About 216-228 Park Avenue
An exceptional opportunity to acquire a prominent four-property investment portfolio situated on a 39,478-square-foot site at one of Worcester’s most visible and sought-after corners. The portfolio consists of a 14-room rooming house, a 15-room rooming house, a three-family property with tenants at will and below-market rents, and a fully renovated single-family residence. The offering includes approximately 20 off-street parking spaces and provides multiple income streams with additional upside through rent growth and future asset stabilization. The parking-lot area may also offer the potential to construct a three-story, six-unit building. Preliminary architectural drawings from a similar development are available for reference. With strong visibility, substantial frontage, existing income, and potential redevelopment value, this is a rare opportunity to acquire a significant investment property in a difficult-to-replicate Worcester location. Any future development is subject to buyer due diligence and all required zoning, permitting, and city approvals.
Features of 216-228 Park Avenue
| MLS® # | 73573445 |
|---|---|
| Price | $4,199,000 |
| Square Footage | 15,239 |
| Acres | 0.91 |
| Year Built | 1890 |
| Type | Commercial Sale |
| Status | Active |
Community Information
| Address | 216-228 Park Avenue |
|---|---|
| City | Worcester |
| County | Worcester |
| State | MA |
| Zip Code | 01609 |
Amenities
| Utilities | Public Water, Public Sewer, Natural Gas Available, 220 Volts |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Fireplace | No |
|---|
Additional Information
| Zoning | RS-7, BO-1 |
|---|
Listing Details
| Agent | James Kalogeropoulos |
|---|---|
| Office | RE/MAX Partners |