Investment Overview

Marcus & Millichap is pleased to present 35 Lafayette Street, a fully renovated six-unit multifamily asset located in Worcester, Massachusetts. The entire property has undergone a complete modernization, including full unit renovations, updated electrical and plumbing systems, and a newly paved driveway with off-street parking. The building offers three (3) three-bed / one-bath units and three (3) one-bed / one-bath units, totaling over 4,500 square feet of rentable area, with separately metered utilities. The property is ideally located, less than a half-mile from Polar Park and Kelley Square, providing direct access to one of Worcester's most active and in-demand neighborhoods. 35 Lafayette Street offers an investor a quality asset, poised for strong cash flow, with no near term capital expenditures. Delivered vacant, the asset gives investors full control over stabilization and rent positioning. At projected market rents, the property supports an NOI north of $100,000 and a cap rate just below 8% upon stabilization. Worcester remains one of the strongest rental markets in the Northeast, ranking #3 nationally by Forbes magazine in regards to rent growth and vacancy rates. 35 Lafayette Street represents a compelling opportunity to secure a strong, well-located multifamily asset in a supply constrained market.