SOLD SEP 25, 2026

Sold on sep 2026

$1,230,000

•

5,140

sq ft

188 Park Ave Aka 127 Institute Rd, Worcester, MA 01609

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About this home

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 parkinga highly desirable amenity for students. Additional spacious former basement apartment offers great potential value add possibilities

Multi-familyProperty Type

1920Year Built

6,035 sq ftLot Size

$239Price/Sq.Ft.

12 spacesParking

Listed by Brian Allen • Property Investors & Advisors, LLC

Listed by • Property Investors & Advisors, LLC

Bought with Prakash Adhikari • Century 21 XSELL REALTY

Redfin checked: 2 minutes ago

•Source:MLS PIN #73558186

Redfin Estimate

$1,291,349

$61K since sold in September 2026$7,000 since October

Recently sold homes
Estimate history
Homes for sale

This home's estimate is 102.3% higher than the average sale price ($638K) of 6 comparable homes.

SOLD SEP 3, 2026
$680,000
A
7 beds3.5 baths3,798 sq ft
10 Trowbridge Rd, Worcester, MA 01609
SOLD SEP 15, 2026
$705,000
B
5 beds3 baths3,667 sq ft
22 Whitman Rd, Worcester, MA 01609
SOLD SEP 18, 2026
$625,000
C
4 beds1.5 baths1,980 sq ft
182 Park Ave, Worcester, MA 01609
SOLD AUG 7, 2026
$675,000
D
4 beds2.5 baths2,790 sq ft
15 Haviland St, Worcester, MA 01602
SOLD AUG 14, 2026
$575,000
E
4 beds2.5 baths2,675 sq ft
22 Longfellow Rd, Worcester, MA 01602
SOLD SEP 17, 2026
$570,000
F
6 beds2 baths3,178 sq ft
1 Hadwen Ln, Worcester, MA 01602

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Market trends in 01602, MA

Last updated October 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-list price

102.4%

+0.0% MoM

Median sale price

$470K

$21K MoM

Avg. days on market

21d

0 days MoM

Recently sold homes

6 MoM

New listings for sale

NEW 5 HRS AGO
$495,000
3 beds3 baths1,684 sq ft
29 Buckley Rd, Worcester, MA 01602
$549,000
4 beds2.5 baths2,156 sq ft
56 Berwick St, Worcester, MA 01602
$899,995
4 beds4 baths3,242 sq ft
1248 Pleasant St, Worcester, MA 01602
3D WALKTHROUGH
$524,900
4 beds2 baths2,112 sq ft
18 Intervale Rd, Worcester, MA 01602
OPEN SUN, 11:30AM TO 1PM
$498,900
4 beds2 baths2,520 sq ft
821 Pleasant St, Worcester, MA 01602
$324,999
3 beds1 bath1,027 sq ft
153 Copperfield Rd, Worcester, MA 01602
See all

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Sale and tax history for 188 Park Ave Aka 127 Institute Rd

Sale History
Tax History

Date

Event

Price

MLS PIN #73558186

Sep 25, 2026

Sold

$1,230,000

$239/sq ft

Aug 24, 2026

Pending

—

Aug 3, 2026

Relisted

—

Aug 3, 2026

Listed

$1,350,000

$263/sq ft

Aug 3, 2026

Listing Removed

—

MLS PIN #73257939

Nov 19, 2024

Sold

$700,000

$136/sq ft

Jul 11, 2024

Contingent

—

Jun 26, 2024

Listed

$750,000

$146/sq ft

***MULTIPLE OFFERS- HIGHEST AND BEST, WED JULY 3RD @ 5PM***NEW LISTING***INVESTORS TAKE NOTE!!****PRIME LOCATION WITH HIGH VISIBILITY AND EASY HIGHWAY ACCESS ***CORNER OF PARK AVE AND INSTITUTE***LOCAL BUSINESS OPERATED FOR MORE THAN 50 YEARS ON THE FIRST FLOOR** GREAT SPACE WITH LOTS OF POTENTIAL AND LARGE RENTAL UNITS ON THE SECOND & THIRD FLOOR FOR ADDED INCOME*** THE SECOND FLOOR FEATURES 4 BEDROOMS, LARGE LIVING, PANTRY, LARGE EAT-IN KITCHEN, TWO FULL BATHROOMS AND MUDROOM***THIRD FLOOR FEATURES 3 BEDROOMS, LIVING ROOM, PANTRY, LARGE EAT-IN KITCHEN, BATHROOM, MUDROOM AND BONUS OFFICE/UTILITY SPACE (UNHEATED)***BOTH RENTAL UNITS FEATURE HARDWOOD FLOORS THROUGHOUT***OFF STREET PARKING THREE SIDES OF THE BUILDING**BE PART OF EVERYTHING WORCESTER HAS TO OFFER WITH HOSPITALS, COLLEGES, HANOVER THEATER, ECOTARIUM, RAILERS HOCKEY & WOO SOX BASEBALL!!

Public record

Beds

—

Baths

—

Stories

Lot width

—

Lot depth

—

Lot size

6,098 Sq. Ft.

Year renovated

—

Sq. Ft.

4,034

Year built

1920

Style

Other

County

Worcester County

APN

1772921

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Jul 21, 2023.

Property details

Parking

Parking Information
Open Parking Spaces: 12
Parking Spaces: 12

Interior

Bathroom Information
# of Bathrooms (Full): 5

Basement Information
Basement: Full

Interior Features
# of Rooms (Total): 20

Exterior

Building Information
Building Area (Total): 5,140
Foundation Details: Irregular
Stories (Total): 3
Year Built Source: Public Records
Year Built Details: Renovated Since

Property Information
PropertySubType: 3 Family
Above Grade Finished Area: 5140
Levels: 3

Lot Information
Lot Size (Acres): 0.14
Lot Features: Corner Lot

Financial

Tax Information
Tax Annual Amount: $12,859.02
Tax Year: 2026

Utilities

Utility Information
Sewer: Public Sewer
Water Source: Public

Location

Unit #1 Information
# of Levels: 1
# of Floors: 1
Lease: Y

Unit #2 Information
# of Levels: 1
# of Floors: 2
Lease: Y

Unit #3 Information
# of Levels: 1
# of Floors: 3

Location Information
Directions: Park and Institute. AKA 127 Institute RD
UnparsedAddress: 188 Park Ave Aka 127 Institute Rd, Worcester MA 01609

Community Information
Senior CommunityYN: No
Community Features: Public Transportation

Public facts

Beds: —
Baths: —
Sq. Ft.: 4,034
Stories: 3.0
Lot Size: 6,098 square feet
Style: Other
Year Built: 1920
Year Renovated: —
County: Worcester County
APN: 1772921

Home facts updated by county records on Jul 21, 2023

Other

Listing Information
Exclusions: Tenants Personal Property
StandardStatus: Closed

Around this home

Schools

Jacob Hiatt Magnet School

Public PreK-6 • Assigned • 1.1mi

5/10

Forest Grove Middle School

Public 7-8 • Assigned • 1.1mi

4/10

Doherty Memorial High School

Public 9-12 • Assigned • 0.4mi

4/10

Provided by GreatSchools

Climate risks

Flood Factor

We're working on getting current and accurate flood risk information for this home.

Fire Factor

We're working on getting current and accurate fire risk information for this home.

4/10 Heat Factor

7 hot days expected this year, 16 days in 30 years

Wind Factor

We're working on getting current and accurate wind risk information for this home.

2/10 Air Factor

1 unhealthy days expected this year, 2 days in 30 years

Provided by First Street

Historical weather

Worcester, MA • 01609

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

Try the sun simulator tool to see how light moves across the property at different times of day and year.

Provided by Shadowmap

Estimated sale price

$1.23M – $1.49M

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Tudor style home • Original woodwork • Hardwood floors

OPEN SUN, 11:30AM TO 1PM

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Grand foyer • Coffered ceilings • Heated sunroom

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Updated kitchen • Renovated kitchen • Full basement

Home values near 188 Park Ave Aka 127 Institute Rd

Data from public records.

Address	Redfin Estimate
134 Institute Rd, Worcester, MA 3 Beds \| 1.5 Baths \| 2036 Sq. Ft.	$490,141
128 Institute Rd, Worcester, MA 6 Beds \| 3 Baths \| 3365 Sq. Ft.	$816,061
128 Institute Rd Apartment 2, Worcester, MA - Beds \| - Baths \| - Sq. Ft.	—
17 Homer St, Worcester, MA 3 Beds \| 1.5 Baths \| 1648 Sq. Ft.	$418,198
11 Homer St, Worcester, MA 6 Beds \| 2 Baths \| 2640 Sq. Ft.	$646,727
15 Homer St, Worcester, MA 6 Beds \| 2 Baths \| 2574 Sq. Ft.	$648,117
201 Park Ave, Worcester, MA - Beds \| - Baths \| 2557 Sq. Ft.	—

Address	Redfin Estimate
132 Institute Rd, Worcester, MA 3 Beds \| 2 Baths \| 1702 Sq. Ft.	$539,254
133 Institute Rd, Worcester, MA 6 Beds \| 3 Baths \| 3223 Sq. Ft.	$807,085
1 Hall St, Worcester, MA 4 Beds \| 2 Baths \| 2138 Sq. Ft.	$507,014
16 Homer St, Worcester, MA 3 Beds \| 1.5 Baths \| 1584 Sq. Ft.	$448,276
3 Homer St, Worcester, MA 7 Beds \| 3 Baths \| 3672 Sq. Ft.	$755,286
231 Russell St, Worcester, MA 9 Beds \| 3 Baths \| 3253 Sq. Ft.	$796,936
64 Dover St, Worcester, MA - Beds \| - Baths \| 3423 Sq. Ft.	—

Address	Redfin Estimate
130 Institute Rd, Worcester, MA 3 Beds \| 1.5 Baths \| 1538 Sq. Ft.	$432,655
133 Institute, Worcester, MA 6 Beds \| 3 Baths \| 3176 Sq. Ft.	$699,987
182 Park Ave, Worcester, MA 4 Beds \| 1.5 Baths \| 1980 Sq. Ft.	$542,686
19 Homer St, Worcester, MA 3 Beds \| 2 Baths \| 1650 Sq. Ft.	$452,574
184 Park Ave, Worcester, MA 10 Beds \| 3.5 Baths \| 4321 Sq. Ft.	$830,589
35 Lee St, Worcester, MA 4 Beds \| 2 Baths \| 2132 Sq. Ft.	$582,570
59 Dover St, Worcester, MA 6 Beds \| 3 Baths \| 3004 Sq. Ft.	—

Property information provided by MLS PIN when last listed in 2026. This data may not match . Learn more.

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About this home

Redfin Estimate

Market trends in 01602, MA

Homeowner tools

Sale and tax history for 188 Park Ave Aka 127 Institute Rd

Public record

Property details

Around this home

Schools

Climate risks

Historical weather

Sun exposure

Nearby similar homes

New listings for sale in 01602

Home values near 188 Park Ave Aka 127 Institute Rd

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