Multifamily
Cross and West Street Apartments
87 Cross St, Southbridge, MA 01550
Listing Price: $1,750,000
Investment Overview
Marcus and Millichap is pleased to present the Cross and West Street Apartments in Southbridge Massachusetts. 87 Cross Street features (2) six unit buildings on one lot and 59 West Street features (1) six unit building totaling 18 apartments. Cross Street features (6) three bedroom apartments and (6) two bedroom apartments and West Street contains (3) two bedroom and (3) one bedroom apartments. All utilities including gas, electric, with the exception of water are separate and responsible by the tenant for both properties and off-street parking is available for both buildings as well. The Cross and West Street apartments have strong upside in raising rents to local market rents in addition to recent renovations that have been completed in the past two years include new roofs, windows, electrical, and plumbing. The properties are located just minutes from downtown Southbridge which include many local restaurants and small businesses in the area. Additionally, the properties are located within half a mile of each other which provides investors ease with management and ownership . 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.
Cross and West Street Apartments
Investment Highlights
- Eighteen-Units comprised of (2) six family buildings on one lot and (1) additional six family building located in Southbridge, MA
- 87 Cross Street features (6) three-bedroom apartments and (6) two-bedroom apartments with 59 West Street featuring (3) two-bedroom and (3) one-bedroom apartments.
- All utilities are separate with the exception of water and off-street parking is available for both properties
- Renovations completed in the past two years include new roofs, windows, electrical, and plumbing.
- Significant upside in rents which are currently about 11% below market.
- Both properties are about a half mile in distance from each other providing investors ease with management and ownership.
Exclusively Listed By
Financing By
Listing Price: $1,750,000
Investment Highlights
- Eighteen-Units comprised of (2) six family buildings on one lot and (1) additional six family building located in Southbridge, MA
- 87 Cross Street features (6) three-bedroom apartments and (6) two-bedroom apartments with 59 West Street featuring (3) two-bedroom and (3) one-bedroom apartments.
- All utilities are separate with the exception of water and off-street parking is available for both properties
- Renovations completed in the past two years include new roofs, windows, electrical, and plumbing.
- Significant upside in rents which are currently about 11% below market.
- Both properties are about a half mile in distance from each other providing investors ease with management and ownership.
Investment Overview
Marcus and Millichap is pleased to present the Cross and West Street Apartments in Southbridge Massachusetts. 87 Cross Street features (2) six unit buildings on one lot and 59 West Street features (1) six unit building totaling 18 apartments. Cross Street features (6) three bedroom apartments and (6) two bedroom apartments and West Street contains (3) two bedroom and (3) one bedroom apartments. All utilities including gas, electric, with the exception of water are separate and responsible by the tenant for both properties and off-street parking is available for both buildings as well. The Cross and West Street apartments have strong upside in raising rents to local market rents in addition to recent renovations that have been completed in the past two years include new roofs, windows, electrical, and plumbing. The properties are located just minutes from downtown Southbridge which include many local restaurants and small businesses in the area. Additionally, the properties are located within half a mile of each other which provides investors ease with management and ownership . 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
