Investing in a Growing City - multi family investment properties

Worcester has been gaining some serious momentum over the last several years. Making multi family investment properties a hot commodity for investors. Specifically triple deckahs (as the locals will say), the classic construction can be found all throughout the city.  Some even consider Worcester the birthplace of the triple-decker.

Triple deckers made up half of Worcester's building construction between 1890 and 1900. Of the 6,000 built, 4,000 still remain, and as late as 1972 they housed one-third of the city’s 100,000 residents. There is an incredibly rich heritage to these buildings, and to this day they make up a majority of the rental market in the city.

 As we look to the future, we need not look far, just 25 miles to Boston. Where many triple deckers have now been renovated and sold floor by floor to meet housing demand. Some invest to hold, others to convert to condo units, and some a little bit of both. Whatever your reason, Worcester is a wonderful city in which to expand your portfolio without paying Boston prices (yet!). For the owner-occupied, the multi-unit owner, or the flipper, there is little not to love about this city and it's Multi-family homes. Learn more about buying multi family homes by contacting us today!

 Looking back to 2016, the average price per square foot for a Worcester triple decker was a modest $80. Today they sell for an average of $190/ft! 

With the city's expanse of neighborhoods, colleges, markets, bustling small businesses, amazing restaurants and bars, the new ballpark, it makes a wonderful place to live and play as well as invest. It's no wonder properties barley last a few days, everyone wants a piece of Worcester, and they're willing to pay for it! 

If you are curious about the city, have any questions on investment properties or looking to sell one of your own, we are ready to help!