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188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Active

188 Park Ave Aka 127 Institute Rd, Worcester MA 01

$1,350,000

Estimated $3,261/month Calculator

Multi Family

Total Units: 3

Price Per Unit: $450,000

Total Rent: 130800/year

Estimated CAP Rate:

14 Bedrooms

Baths

5140

Total Parking: 12

6,035 (0.14)

Exceptional Investment Opportunity in the Heart of the WPI Student Rental Market! Fully renovated 14-bedroom, 5-bath three-decker offering outstanding cash flow and long-term stability. This property underwent a complete, high-end renovation in 2025 with all work professionally permitted and inspected. Major improvements include brand-new kitchens with granite counters, beautifully tiled bathrooms, new flooring throughout, all-new plumbing, electrical and gas heating systems, new water heaters, and a complete fire sprinkler system, coin Op laundry system, along with numerous additional upgrades.The property is fully leased to WPI students through Summer 2027, providing immediate, predictable rental income. Situated in one of Worcester's most sought-after student housing locations, this turnkey investment also features a large paved parking lot with ample off-street parking—a highly desirable amenity for students. Additional spacious former basement apartment offers great potential value add possibilities

This home has been viewed 7 times

Last Checked: August 5th, 2026 at 8:13pm (Source: MLS PIN #73558186)

Gross Income: $130,800

Gross Expenses: $12,859

Net Income Calc: $117,941

Annual Expenses for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Total Gross Expenses (Calculated)$12,859/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax12859.02

Annual Income & Unit Breakdown for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Total Gross Income (Calculated)$130,800

Unit 1

Rental Income$0

LeaseY

Bedrooms5

Bathrooms2 Full

Floor1

Levels in Unit1

Rent Includes

Unit 2

Rental Income$0

LeaseY

Bedrooms5

Bathrooms2 Full

Floor2

Levels in Unit1

Rent Includes

Unit 3

Rental Income$0

Lease

Bedrooms4

Bathrooms1 Full

Floor3

Levels in Unit1

Rent Includes

General Information for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Listing ID73558186

Property TypeMulti Family / 3 Family

Price1350000 ($262.65/SqFt)

Style3 Family

CityWorcester

CountyWorcester

Neighborhood(s)

Approximate Living Area Total5140

Approximate Lot Size (Acres)0.14

Total Parking12

Garage Parking0

Year Built1920

Year Built SourcePublic Records

Year Built DetailsRenovated Since

WaterPublic

SewerPublic Sewer

Electric

Hot Water

Roof Material

BasementFull

Construction Materials

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor Space

ZoningBL-1

Water Views

Water Views Features

Waterfront0

Waterfront Features

Terms

Disclosures for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsLiving Room Shelves

Financial Data Source

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

For Sale By OwnerEntry Only

Short Sale / Forclosure (Bank Owned)

Compensation Based On

Financial Information for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Real Estate Taxes12859.02

Tax Year2026

Assessed Value$968,300

Financial Data Source

Total Gross Expenses By Broker

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker

BostonRealEstate.com Gross Income

Total Net Income By Broker

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

Location Information for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Neighborhood(s)

Area AmenitiesWalk/jog Trails

Contact Information for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Agent

Name: Brian Allen

Office

Name: Property Investors & Advisors, LLC

Phone: 774-413-0272

Payment Calculator

, Interest

Property Taxes 1071.59

Principal & Interest 8318.27

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Property Investors & Advisors, LLC

Brian Allen

Agent Phone

Office Phone

(774) 413-0272

Text Agent Call Agent Call Office

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EXIT

7 More Photos

Active

188 Park Ave Aka 127 Institute Rd, Worcester MA 01

$1,350,000

Annual Expenses for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Annual Income & Unit Breakdown for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

General Information for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Disclosures for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Financial Information for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Location Information for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Contact Information for 188 Park Ave Aka 127 Institute Rd, Worcester MA 01

Agent

Office

Payment Calculator

Exclusive Listing Agent

Property Investors & Advisors, LLC

Brian Allen