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2 Ureco Ter 24 Unit Apartment Building $6,873,420 CAD ($286,392 CAD/Unit) 4.95% Cap Rate Worcester, MA 01602
Investment Highlights
- 24 Units / 5 Properties
- $4,850,000 / ~$202K Per Unit
- $395K Documented CapEx
- 23 of 24 units occupied
- HUD FMR Upside, 1BR & select studio rents at or below FY2026 FMR
- Multiple Nov 2026 Expirations
Executive Summary
Rare opportunity to acquire a clustered 24-unit multifamily portfolio in Worcester's highly desirable Newton Square/West Side neighborhood. Five properties — 827 Pleasant St (10 units), 2 Ureco Terrace (9 units), 7–9 Ureco Terrace (2 units), 831 Pleasant St (2 units), and 3 Ureco Terrace (1 unit) — all situated along a single private drive, delivering concentrated operational efficiency unavailable in dispersed portfolios. 95.8% occupied with gross scheduled rent of $475,800/yr and stabilized NOI of $240,197. Average in-place rent of $1,724/month with meaningful near-term upside given the premium Newton Square location and ~$395,000 in recent capital improvements, including a full gut renovation at 9 Ureco Terrace (2025), kitchen/bath upgrade at 2 Ureco Unit 2L (2023), and boiler replacements. Offered at $4,850,000 (~$202K/unit).
Property Facts
| Price | $6,873,420 CAD | Building Class | B |
| Price Per Unit | $286,392 CAD | Lot Size | 1.00 AC |
| Sale Type | Investment | Building Size | 26,650 SF |
| Cap Rate | 4.95% | Average Occupancy | 96% |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | ||
| Zoning | RL-7 - Apartment | ||
| Price | $6,873,420 CAD |
| Price Per Unit | $286,392 CAD |
| Sale Type | Investment |
| Cap Rate | 4.95% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 1.00 AC |
| Building Size | 26,650 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1910 |
| Zoning | RL-7 - Apartment |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | - |
| 1+1 | 7 | - | - |
| 2+1 | 9 | - | - |
| 4+1.5 | 3 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | WORC-000011-000018-000021 | Improvements Assessment | $2,879,279 CAD |
| Land Assessment | $1,883,918 CAD | Total Assessment | $4,763,197 CAD |
Property Taxes
Parcel Number
WORC-000011-000018-000021
Land Assessment
$1,883,918 CAD
Improvements Assessment
$2,879,279 CAD
Total Assessment
$4,763,197 CAD
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