Rare 10-building, 30-unit multifamily portfolio on Worcester’s desirable West Side, steps from WPI. Offered at $9,900,000 ($330K/unit, 7.1% cap). Stabilized projected 2026-2027 gross income of $1,065,600 with NOI of $699,282. Portfolio features a mix of 2BR-5BR apartments plus 4 garage spaces across 10 three-unit buildings. Most units have been extensively renovated and are in good condition. Student-driven tenant base provides reliable demand, scheduled annual turnover aligned with the academic calendar, and historically near-zero vacancy. Located in Worcester’s most stable and sought-after rental submarket with strong rent growth and consistent off-campus housing demand. Sellers are open to offers for the entire portfolio or individual groupings/buildings, creating a flexible acquisition opportunity. Full Offering Memorandum attached to MLS.
Listed by Steven Novak
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Douglas Elliman Real Estate - Park Plaza
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617-955-2224
Listed by Craig Brody
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Douglas Elliman Real Estate - Park Plaza
Listed by Brody Murphy Novak Group
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Douglas Elliman Real Estate - Park Plaza
Last updated April 06, 2026
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Source: MLSPin #73488551
Listing Facts
TypeMulti-family
NeighborhoodInstitution Park
Bedrooms99
Bathrooms36
Days on Prevu44
Taxes$86,074/year
Size9,999 sqft
Price per sqft$990
Amenities
Parking
Location
Mortgage Calculator
Listing History
03/18/2026
Listed by Douglas Elliman Real Estate - Park Plaza
$9,900,000
Property Details for 172-176 Russell St
Exterior
Construction
Number Of Units Total: 30
Stories: 5
Stories Total: 5
Year Built: 9999
Year Built Details: Approximate
Measurements
Building Area Total: 9,999
Building Area Units: Square Feet
Lot Features: Corner Lot
Lot Size Acres: 2.30
Lot Size Area: 2
Lot Size Square Feet: 99,999
Lot Size Units: Acres
Financial
Residential Income
Gross Income: $1,065,600.00
Operating Expense: $366,318.00
Taxes
Tax Annual Amount: $86,074.00
Tax Assessed Value: $999,999.00
Tax Year: 2026
Interior
Measurements
Living Area: 9,999
Living Area Source: Owner
Rooms
Bathrooms Full: 36
Bathrooms Total Integer: 36
Bedrooms Total: 99
Rooms Total: 99
Parking
Parking
Covered Spaces: 4
Garage Spaces: 4
Garage: Yes
Open Parking Spaces: 18
Open Parking: Yes
Parking Features: Paved Drive
Parking Total: 22
Utilities
Equipment
Sewer: Public Sewer
Water Source: Public
Frequently Asked Questions
How many bedrooms and bathrooms does this multi-family home have?
There are 99 bedrooms and 36 bathrooms in this multi-family home at 172-176 Russell St.
Does this multi-family home have parking?
Yes, there are 4 parking spaces available for 172-176 Russell St.
What are the annual taxes for 172-176 Russell St?
Annual taxes for this multi-family home are estimated at $86,074.
How does 172-176 Russell St compare to other multi-family homes in Institution Park?
This multi-family home is listed 1460% above the average price for multi-family homes in Institution Park and has been on the market for 11 more days than the typical home in this area.
What is the square footage on this multi-family home?
According to the MLS, this listing is 9,999 sqft.
172-176 Russell St is a 99-bedroom, 36-bath multi-family home for sale in Worcester MA 01609. Listed on Prevu for 44 days at $9,900,000. This property features 9,999 square feet of living space, located in Worcester County. The median listing price for multi-family homes in this area is $634,500. Property amenities include parking. View other multi-family home listings in Worcester County.
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