Multifamily

Woodland Street Apartments

111 Woodland St, Worcester, MA 01610

Listing Price: $2,100,000

Cap Rate
5.73%
Number of Units
13
GRM
12.61
Occupancy
100.0%
Price/Unit
$161,538
Price/Gross SF
$127.97
Gross SF
16,410

Investment Overview

Marcus & Millichap is excited to present the Woodland
Street apartments located in Worcester Massachusetts. Situated on a corner lot
and just steps to Clark University, the converted church features 12 oversized
apartments on three levels with nine one-bedrooms and 4 two-bedrooms
apartments. Each apartment features modern kitchens and baths with granite and
stainless steel appliances. The property features 24/7 property management
service and video surveillance system, and many additional amenities including
off-street parking and on-site laundry. Utilities on site feature Gas forced hot
air heat. Tenants are responsible for all utilities except water/sewer and
common area electric.

The Woodland Street Apartments provide investors with a
beautiful, turn-key, one of a kind multifamily asset in one of the most
thriving sub markets in New England. With the limited student housing and the
below market rents for this location, provides investors significant upside for
a highly-demanded property located contiguously with Clark University and a
3200 student population and the growing demand for quality housing in downtown
Worcester. Along with the city of Worcester revitalization project currently
underway, the student demand and growing population will continue to reshape
the area for decades to come.

Investment Highlights

  • Church converted to a 12-Unit apartment building located in Worcester, MA
  • Three floors with an attractive unit-mix comprised of 9 one-bed & 4 two-bedrooms
  • Utilities are gas-fired, forced hot air. Tenants responsible for heat & electricity
  • Located on edge of Clark University campus home to 3200+ students
  • Huge upside to raise rents to local market rates in highly demanded housing market
  • Modern kitchens with SS appliances, updated tile bathrooms, and hardwood floors

Exclusively Listed By

Multifamily

Woodland Street Apartments

Listing Price: $2,100,000

Cap Rate
5.73%
Number of Units
13
GRM
12.61
Occupancy
100.0%
Price/Unit
$161,538
Price/Gross SF
$127.97
Gross SF
16,410

Investment Highlights

  • Church converted to a 12-Unit apartment building located in Worcester, MA
  • Three floors with an attractive unit-mix comprised of 9 one-bed & 4 two-bedrooms
  • Utilities are gas-fired, forced hot air. Tenants responsible for heat & electricity
  • Located on edge of Clark University campus home to 3200+ students
  • Huge upside to raise rents to local market rates in highly demanded housing market
  • Modern kitchens with SS appliances, updated tile bathrooms, and hardwood floors

Investment Overview

Marcus & Millichap is excited to present the Woodland
Street apartments located in Worcester Massachusetts. Situated on a corner lot
and just steps to Clark University, the converted church features 12 oversized
apartments on three levels with nine one-bedrooms and 4 two-bedrooms
apartments. Each apartment features modern kitchens and baths with granite and
stainless steel appliances. The property features 24/7 property management
service and video surveillance system, and many additional amenities including
off-street parking and on-site laundry. Utilities on site feature Gas forced hot
air heat. Tenants are responsible for all utilities except water/sewer and
common area electric.

The Woodland Street Apartments provide investors with a
beautiful, turn-key, one of a kind multifamily asset in one of the most
thriving sub markets in New England. With the limited student housing and the
below market rents for this location, provides investors significant upside for
a highly-demanded property located contiguously with Clark University and a
3200 student population and the growing demand for quality housing in downtown
Worcester. Along with the city of Worcester revitalization project currently
underway, the student demand and growing population will continue to reshape
the area for decades to come.

Exclusively Listed By

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