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Multifamily

87-89-93 Cross St

87 Cross St, Southbridge, MA 01550

Listing Price: $1,200,000

Cap Rate
8.61%
Number of Units
12
Occupancy
100.0%
Price/Unit
$100,000
Price/Gross SF
$88.86
Gross SF
13,504

Investment Overview

Marcus and Millichap is pleased to present 87-89-93 Cross Street in Southbridge Massachusetts. The property features two six-unit buildings, totaling twelve apartment units. The front building features all three-bedroom one-bathroom apartments and the back building features all two-bedroom one-bathroom apartments. All utilities including gas, electric, and water are separate and responsible by the tenant and off-street parking is available for all tenants with up to twelve spaces. 87-89-93 Cross Street has strong upside in raising rents to local market rents in addition to recent renovations that have been completed in the past year including a new roof, windows, laundry room, electrical, and plumbing. The property is located just minutes from downtown Southbridge which includes many local restaurants and small businesses. In addition, the property is less than a ten-minute drive to The Southbridge Fair Shopping Center, which includes well known tenants such as Big Y Market, Anytime Fitness, and Family Dollar. Southbridge is an actively growing sub market of Worcester on the Connecticut border with many opportunities to invest in an area of Central Massachusetts that deliver strong returns. Southbridge is a town investors should consider for the near future.

Investment Highlights

  • Twelve-unit apartment building featuring two six-unit buildings on one lot located in Southbridge, MA.
  • The front building features all three-bedroom apartments and the back building features all two-bedroom apartments.
  • All utilities are separate and off-street parking is available for up to twelve parking spaces.
  • Renovations completed in the past year include a new roof, windows, laundry room, electrical, and plumbing.
  • Investors can expect an in-place 15% cash on cash return based on the income.
  • Significant upside in rents which are currently about 12% below market.

Exclusively Listed By

Financing By

Multifamily

87-89-93 Cross St

Listing Price: $1,200,000

Cap Rate
8.61%
Number of Units
12
Occupancy
100.0%
Price/Unit
$100,000
Price/Gross SF
$88.86
Gross SF
13,504

Investment Highlights

  • Twelve-unit apartment building featuring two six-unit buildings on one lot located in Southbridge, MA.
  • The front building features all three-bedroom apartments and the back building features all two-bedroom apartments.
  • All utilities are separate and off-street parking is available for up to twelve parking spaces.
  • Renovations completed in the past year include a new roof, windows, laundry room, electrical, and plumbing.
  • Investors can expect an in-place 15% cash on cash return based on the income.
  • Significant upside in rents which are currently about 12% below market.

Investment Overview

Marcus and Millichap is pleased to present 87-89-93 Cross Street in Southbridge Massachusetts. The property features two six-unit buildings, totaling twelve apartment units. The front building features all three-bedroom one-bathroom apartments and the back building features all two-bedroom one-bathroom apartments. All utilities including gas, electric, and water are separate and responsible by the tenant and off-street parking is available for all tenants with up to twelve spaces. 87-89-93 Cross Street has strong upside in raising rents to local market rents in addition to recent renovations that have been completed in the past year including a new roof, windows, laundry room, electrical, and plumbing. The property is located just minutes from downtown Southbridge which includes many local restaurants and small businesses. In addition, the property is less than a ten-minute drive to The Southbridge Fair Shopping Center, which includes well known tenants such as Big Y Market, Anytime Fitness, and Family Dollar. Southbridge is an actively growing sub market of Worcester on the Connecticut border with many opportunities to invest in an area of Central Massachusetts that deliver strong returns. Southbridge is a town investors should consider for the near future.

Exclusively Listed By

Financing By

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