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Description
This centrally located value-add 6-unit property at 38 Benefit in Worcester, Massachusetts, consists of four 1-bedroom/1-bathroom units and two 2-bedroom/1-bathroom units, totaling 5,216 sq. ft. of living space on a 0.11-acre parcel. Each unit is separately metered for heat and electricity, and the owner is responsible for hot water and municipal water & sewer. The property benefits from brand new high efficiency Navien hot water heaters. Three of the six units have been recently renovated featuring new kitchens, updated bathrooms, and new flooring. There is an opportunity to dramatically increase rents in both the renovated units and through targeted upgrades to the remaining unrenovated units as all units are currently TAW. Listed at a 7.95% cap rate, this property represents a strong investment opportunity in the growing Worcester market.
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