$1,350,000
188 Park Ave Aka 127 Institute Rd
Worcester, MA, 01609
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
Property Details
Price:
$1,350,000
MLS #:
73558186
Status:
Active
Beds:
14
Baths:
5
Type:
Multi Family
Subtype:
3 Family
Listed Date:
Aug 3, 2026
Finished Sq Ft:
5,140
Total Sq Ft:
5,140
Lot Size:
6,035 sqft / 0.14 acres (approx)
Year Built:
1920
Units:
3
Schools
Interior
Above Grade Finished Area
5140
Bathrooms
5 Full Bathrooms
Levels
3
Exterior
Community Features
Public Transportation
Lot Features
Corner Lot
Open Parking Spaces
12
Parking Spots
12
Parking Total
12
Stories
3
Financial
Tax Year
2026
Taxes
$12,859
Marie Andrews is an award-winning, licensed real estate broker with licenses in Massachusetts and Florida. She has been selling real estate in the greater Boston area for over 20 years. Over the past two decades, Marie has worked for Century 21 Advanced Realty, building a reputation as a multi-million dollar producer. She has developed an extensive network of investors, lenders, and attorneys. Marie has a wide knowledge base on property management, Massachusetts real estate law, and building…
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Map
Current real estate data for Multi Family in Worcester as of Aug 07, 2026
161
Multi Family Listed
93
Avg DOM
229
Avg $ / SqFt
$841,747
Avg List Price
Community
- Address188 Park Ave Aka 127 Institute Rd Worcester MA
- CityWorcester
- CountyWorcester
- Zip Code01609
Subdivisions in Worcester
- Burncoat
- Community features: Public Transportation, Shopping, Pool, Medical Facility, Highway Access, House o
- Grafton/Hamilton Street Lake Park
- Hamilton of Lake Ave.
- Hammond Heights
- Lake Park
- Malden Woods
- Prime West Side- Salisbury Street Area
- Quiet Cul-de-sac off Mill Street on top of the hill with spectacular views of the city horizon.
- Rice Square
- Salisbury Street
- Tatnuck
- West Side
- West Side/Tatnuck
Similar Listings Nearby
Property Summary
- 188 Park Ave Aka 127 Institute Rd Worcester MA is a Multi Family for sale in Worcester, MA, 01609. It is listed for $1,350,000 To schedule a showing of MLS#73558186 at 188 Park Ave Aka 127 Institute Rd in Worcester, MA, contact your Pegasus Realty LLC agent at 781-858-3505.
Courtesy of Property Investors & Advisors, LLC. The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
188 Park Ave Aka 127 Institute Rd
Worcester, MA