Active
1 Days on market
216-228 Park Avenue Worcester — Photo 1 of 42

216-228 Park Avenue Worcester — Photo 1 of 42

$4,199,000

216-228 Park Avenue, Worcester, MA 01609

Worcester, MA 01609

Beds

--

Baths

15

SqFt

15,239

Style

Other

Built

1890

An exceptional opportunity to acquire a four-property investment portfolio at the highly visible corner of Highland Street and Park Avenue in Worcester. The portfolio consists of two rooming houses, a three-family building, and a single-family residence, providing multiple income streams and strong, consistent cash flow. The buildings have benefited from extensive updates, improvements, and renovations, including new roofs, siding, windows, central heating and air conditioning, and numerous cosmetic upgrades. The portfolio also features a stabilized rent roll, tenants at will, extensive street frontage, and ample off-street parking. The single-family residence is currently undergoing additional cosmetic improvements, which are expected to be completed prior to closing. Beyond the existing income, current zoning may offer the potential to develop an additional six-unit building, subject to buyer due diligence and all required city approvals. This is a truly hard-to-replicate location, just minutes from Elm Park, WPI, MCPHS University, downtown Worcester, and I-290. With reliable income in place, substantial improvements already completed, and meaningful potential for future growth, this portfolio presents an exciting opportunity for an experienced investor seeking a significant position in one of Worcester’s most desirable and active neighborhoods. Portfolio sale only. Financial information through 2026 is available to qualified buyers.

Market Value Analysis

This Property
Size (SqFt) →Price →

Limited sample — based on 7 comparable properties.

This Property$276/sqft
Local Avg (Worcester)$245/sqft
13% AboveMarket Average

* Analysis is based on 7 actively listed and recently sold comparable properties strictly within Worcester, MA.

Property Details

Financials

Original Price$4,199,000
Annual Taxes$39,826

Parking

Garage0
Off-Street0

Interior Specifications

Total Rooms--
FireplacesNone
Flooring--
BasementNone

Climate & Utilities

Heating--
Cooling--
Water--
Sewer--

Building & Exterior

Construction--
RoofAsphalt/Composition Shingles
Foundation--
ZoningRS-7, BO-1

Property & Lot

Acres0.91
SqFt Lot39,478
Lot Features--

Geography

Population

22,047

U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)

Median Household Income

$68K

U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)

Renter-Occupied Homes

59.9%

U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)

New Construction Permits — Worcester County

1,806 housing units permitted in the last 12 months (-4% vs the prior 12 months) — 1,006 in 5+ unit buildings

U.S. Census Bureau, Building Permits Survey (through Jun '26)

Listing Provided By

Listing Agent: James Kalogeropoulos

Listing Office: RE/MAX Partners

MLS® Number: 73573445

Browse More Homes in Worcester

Explore other active listings in the area.