Multifamily sellers
Sell your multifamily or apartment building in Worcester, MA
Three-deckers, apartment buildings, portfolios.
The three Green Hill Parkway buildings we sold, 9 units and $2.4 million, went under contract and closed within three weeks. The three-family on Sheridan Street sold before it ever reached the public market. Selling yours starts with what a Worcester buyer will pay for its rents, and we work that out for free.
Enter the address for a free broker opinion of value. No obligation.
Our multifamily closings
Worcester multifamily we have sold
Most of the buildings we have sold for their owners are Worcester multifamily. On Lincoln Street we represented the buyer, so we know what investors look for from both sides of the table.
122 Piedmont St, Worcester
We represented the seller
- Result
- Sold
10 Sheridan St, Worcester
We represented the seller
- Units
- 3
- Result
- Sold off market
78 Green Hill Pky, Worcester
We represented the seller
- Units
- 3
- Result
- $795,000
- Price per unit
- $265,000
74 Green Hill Pky, Worcester
We represented the seller
- Units
- 3
- Result
- $765,000
- Price per unit
- $255,000
82 Green Hill Pky, Worcester
We represented the seller
- Units
- 3
- Result
- $845,000
- Price per unit
- $282,000
126 Lincoln Street, Worcester
We represented the buyer
- Units
- 6
- Result
- Sold
Worcester multifamily, Q3 2026
What buyers are paying
Multifamily sales across the Worcester market came to $379.5 million over the last twelve months, down 23% from the $493 million year to July that ran 66% above the five-year average. These are the market averages; your building lands above or below them on its rents, its condition and its street.
- Average price per unit
- $243,000
- Market cap rate (modelled)
- 6.4%
- Vacancy
- 6.2%
- Average asking rent per unit
- $2,102/mo
Source: CoStar Worcester market (Worcester County, MA and Windham County, CT), trailing twelve months through Q3 2026. The cap rate is CoStar’s modelled market rate; it publishes no sale-comparable average for multifamily.
What a cap rate does to your price
Take a three-decker netting $54,000 a year after taxes, insurance, water and repairs, an example rather than a real one. At the market’s 6.4% it is worth about $844,000. If a buyer sees a boiler near the end of its life and asks half a point more, the same income is worth $783,000, about $61,000 less.
What a buyer checks first
Who pays the heat and hot water, how the rents compare with the market, the age of the roof, the boilers and the electrical service, and what the taxes will be once the sale resets the assessment. We go through the same list before we price it, so nothing surprises you at the table.
The process
How to sell a multifamily in Worcester, step by step
We price it from the rent roll
Send us the rents, the leases and a year of expenses: taxes, insurance, water and sewer, heat if you pay it, and repairs. Who pays the heat moves the value of a Worcester three-decker more than most owners expect. We come back with a broker opinion of value: a price range, the price per unit and cap rate it works out to, and the sales we compared it with. It is free.
We get the paperwork ready before a buyer asks
Buyers want the leases (or a list of tenants at will), the security deposits and last month’s rent you hold, which are credited to the buyer at closing, and recent utility bills. Much of Worcester’s multifamily was built before 1978, so expect the Massachusetts lead-paint disclosure and a buyer who may have the building inspected for lead.
We book the smoke and carbon monoxide inspection early
Massachusetts requires a certificate from the local fire department, after it inspects the smoke and carbon monoxide alarms, before a residential building changes hands. In Worcester that is the Worcester Fire Department. A failed inspection can push a closing, so we schedule it as soon as there is a buyer.
On the market, or quietly to buyers we know
We can list it publicly, or take it first to the investors on our buyer list. 10 Sheridan Street sold that way: it never reached the public market, and competition between buyers we already knew pushed the price well above what its owner expected.
Showings that keep your tenants on side
We give tenants notice and fit the showings into as few visits as we can. The people paying rent are part of what you are selling, and a buyer notices how they feel about the building.
Offers, financing and closing
We put the offers side by side on price and on how likely each buyer is to close: the financing, the inspection terms and the timeline. The three Green Hill Parkway buildings, 9 units, went under contract and closed within three weeks. Your attorney handles the deed and the closing, as on any Massachusetts sale.
Who buys
Who is buying Worcester multifamily
Owner-occupants
Buyers who will live in one unit and rent the others. They price the building off comparable sales and what their mortgage will cover.
Local investors
People who already own a few buildings in Worcester. They buy on the rent roll and the condition, and they move quickly when the numbers are clean.
Investors from out of town
Buyers priced out of Greater Boston come here for the yield. A good share of the demand on our own sales has come from out of town.
1031 exchange buyers
Investors who sold another property and must name a replacement within 45 days and close within 180. A deadline makes them decisive, and sometimes flexible on terms.
Cash offer or listing
What a “we buy houses” offer costs you
A cash offer is quick and certain, and there is no commission. It is also priced so the buyer makes money when they resell or refinance, and nobody bids against them.
Listing costs a commission and takes longer, but buyers compete for the building. If speed matters, we can take it quietly to our buyer list first. That is how 10 Sheridan Street sold, above what its owner expected.
Before you sign
The price is not what you keep
The depreciation you have claimed over the years is taxed when you sell, on top of the capital gain. A 1031 exchange defers both if you buy another investment property within the federal deadlines: 45 days to name it, 180 days to close.
Talk to your accountant before you list. We time the sale around your exchange and work with your intermediary.
Seller guides
Read before you sell
Selling with tenants in place
Leases, estoppels and telling your tenants
1031 exchanges in Massachusetts
Deferring the tax when you buy again
What Worcester multifamily buyers look for
The buyer’s side: rents, financing, taxes
Broker fees: what sellers pay
Commission and what you net
What is my property worth?
The ways a building gets valued
How to sell income property in Massachusetts
The full process, valuation to closing
Selling a retail, industrial or office building instead? Sell your commercial property. Buying multifamily? Multifamily for sale in Central MA.
Common questions
Selling a multifamily in Worcester: questions owners ask
Start with a number. We build a free broker opinion of value from your rent roll and expenses, then get the leases, deposits and certificates ready, choose between a public listing and a quiet sale to our buyer list, compare the offers with you, and work with your attorney through closing.
Yes, and most are sold occupied. The leases go with the building, and the buyer takes over the security deposits and last month’s rent you hold, credited at closing. If a buyer wants a unit delivered empty, treat that as a term to negotiate, not something to promise at the start.
It depends on the rents, who pays the heat, the condition and the street. Across the Worcester market, multifamily traded at about $243,000 per unit as of Q3 2026, and the three-families we sold on Green Hill Parkway closed between $765,000 and $845,000. Send us the address and the rents for a free opinion of value on yours.
A cash offer is quick and certain, and you pay no commission. It is also priced so the buyer makes money when they resell or refinance, and nobody bids against them. Listing costs a commission and takes longer, but several buyers compete for the building. If speed matters, we can take it quietly to our buyer list first, which is how 10 Sheridan Street sold above its owner’s expectations.
Yes. Massachusetts requires a certificate from the local fire department, after it inspects the smoke and carbon monoxide alarms, before a residential building changes hands. In Worcester that is the Worcester Fire Department. Book it early: a failed inspection can push the closing.
For a building built before 1978, as much of Worcester’s multifamily is, Massachusetts requires the lead-paint disclosure, and the buyer may have the building inspected for lead. Buyers price lead compliance into their offers, so having your records ready helps.
It depends on the price and the paperwork. The three Green Hill Parkway buildings, 9 units, went under contract and closed within three weeks. Most sales take longer, and the time after an accepted offer goes mostly to the buyer’s financing and inspections.
The brokerage commission is the largest cost and is agreed before we list. Massachusetts charges the seller a deed excise tax of $2.28 for every $500 of the price. Add your attorney, any mortgage payoff, and the prorated taxes and rents settled at closing. The opinion of value comes with an estimate of what you would net.
Free valuation
What would a buyer pay for your building?
Send the address. If you have the rents handy, add them when we call. You get a price range, the sales behind it, and an estimate of what you would net.