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Student Housing

Claremont Street Student Housing

5 Claremont St, Worcester, MA 01610

Listing Price: $1,200,000

Cap Rate
5.04%
Number of Units
16
Occupancy
97.0%
Price/Unit
$75,000
Price/Gross SF
$92.13
Gross SF
13,025

Investment Overview

Marcus & Millichap is pleased to present the Claremont House, an international student housing building for sale in Worcester, MA. The 13,000+ square foot historic building is located across the street from Claremont Academy on a double corner lot of .68 acres with parking for approximately eight vehicles. The building provides tenants two full-kitchens on the first and third floor, four full bathrooms, living and dining areas, along with coin-op laundry. Investors have the ability to acquire a one-of-a-kind asset located in a highly demanded location on the edge of Clark University with close proximity to College of Holy Cross, WPI, downtown, Polar Park and other local restaurants and amenities. As the second largest city in New England accompanied by nearly 20% appreciation over the past two years, investors have the ability to acquire a cash flowing asset with significant upside to accomplish double digit cash on cash returns.

Investment Highlights

  • The historic Claremont House is the pristine Clark University International Student Housing Building located in Worcester, MA
  • The .68 acre lot is improved with a 13,000+ building featuring sixteen bedrooms, two full kitchens, four bathrooms, living/dining rooms, coin-op laundry and off-street parking available for tenants
  • The student housing building is comprised of mainly international undergrad and grad students for mainly Clark University and WPI.
  • Zoned RG-5, the oversized double corner lot allows investors the opportunity to develop the additional land for more units and/or market rate apartments.
  • Close proximity to Clark University campus, several local elementary schools, bus transit on Main Street, and many coffee, restaurant and shopping amenities.

Exclusively Listed By

Financing By

Student Housing

Claremont Street Student Housing

Listing Price: $1,200,000

Cap Rate
5.04%
Number of Units
16
Occupancy
97.0%
Price/Unit
$75,000
Price/Gross SF
$92.13
Gross SF
13,025

Investment Highlights

  • The historic Claremont House is the pristine Clark University International Student Housing Building located in Worcester, MA
  • The .68 acre lot is improved with a 13,000+ building featuring sixteen bedrooms, two full kitchens, four bathrooms, living/dining rooms, coin-op laundry and off-street parking available for tenants
  • The student housing building is comprised of mainly international undergrad and grad students for mainly Clark University and WPI.
  • Zoned RG-5, the oversized double corner lot allows investors the opportunity to develop the additional land for more units and/or market rate apartments.
  • Close proximity to Clark University campus, several local elementary schools, bus transit on Main Street, and many coffee, restaurant and shopping amenities.

Investment Overview

Marcus & Millichap is pleased to present the Claremont House, an international student housing building for sale in Worcester, MA. The 13,000+ square foot historic building is located across the street from Claremont Academy on a double corner lot of .68 acres with parking for approximately eight vehicles. The building provides tenants two full-kitchens on the first and third floor, four full bathrooms, living and dining areas, along with coin-op laundry. Investors have the ability to acquire a one-of-a-kind asset located in a highly demanded location on the edge of Clark University with close proximity to College of Holy Cross, WPI, downtown, Polar Park and other local restaurants and amenities. As the second largest city in New England accompanied by nearly 20% appreciation over the past two years, investors have the ability to acquire a cash flowing asset with significant upside to accomplish double digit cash on cash returns.

Exclusively Listed By

Financing By

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