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101 Worcester Street Southbridge, MA 01550
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Key Details
Sold Price $420,000
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,460 sqft
Price per Sqft $76
MLS Listing ID 72430296
Sold Date 01/15/19
Bedrooms 15
Full Baths 6
Year Built 1915
Annual Tax Amount $5,463
Tax Year 2018
Lot Size 0.270 Acres
Acres 0.27
Property Description
THIS IS THE ONE YOU'VE BEEN LOOKING FOR. THIS PROPERTY IS AN INVESTOR'S DEAM WITH A 10 PERCENT NET CAPITALIZATION RATE (NOT TO BE CONFUSED WITH A GROSS CAP RATE). WHAT BANK IN TODAY'S MARKET IS GOING TO PAY YOU 10% RETURN ON YOUR INVESTMENT WITH THE UPSIDE POTENTIAL OF CAPITAL APPRECIATION? ALL SIX UNITS COME FULLY-RENTED WITH SOME TENANTS WHO HAVE BEEN THERE FOR MANY YEARS. THEY LOVE THEIR HOME & WOULD LIKE TO STAY. WITH A YEARLY RENT ROLL OF $63,000 & SEPARATE UTILITIES, IT'S EASY TO SEE WHY THIS PROPERTY IS SO ATTRACTIVE. THAT IS JUST THE BEGINNING, THIS PROPERTY WAS ALSO COMPLETELY UPDATED SO YOU WON'T HAVE TO DO ANY COSTLY REPAIRS OR TIME-CONSUMING UPGRADES. YES, THE PROPERTY WAS GUTTED & REBUILT WITH NICE KITCHENS & BATHROOMS, SHINY FLOORS, INSULATED WINDOWS & DOORS, VINYL SIDING, RUBBER ROOF, NATURAL-GAS WATER-HEATERS, & SEPARATE ELECTRIC METERS. PLENTY OF PARKING IN THE BACK FOR MORE THAN 20 CARS ON THE PAVED & FENCED-IN PARKING LOT. THIS IS THE GOLDEN CASH COW. CALL NOW!!!
Location
State MA
County Worcester
Zoning MF
Direction Rt.169 (Worcester Rd) Next to KNIGHT Automotive Car Dealership)
Rooms
Basement Full, Bulkhead, Concrete
Interior
Interior Features Other (See Remarks), Unit 1 Rooms(Living Room, Kitchen), Unit 2 Rooms(Living Room, Kitchen), Unit 3 Rooms(Living Room, Kitchen), Unit 4 Rooms(Living Room, Kitchen)
Heating Unit 1(Electric Baseboard), Unit 2(Electric Baseboard), Unit 3(Electric Baseboard), Unit 4(Electric Baseboard)
Flooring Vinyl
Appliance Unit 4(Range, Refrigerator), Gas Water Heater
Laundry Unit 1 Laundry Room, Unit 1(Washer Hookup, Dryer Hookup)
Exterior
Exterior Feature Rain Gutters
Community Features Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/Jog Trails, Golf, Medical Facility, Highway Access, House of Worship, Private School, Public School, Other, Sidewalks
Waterfront false
Roof Type Rubber
Parking Type Paved Drive, Off Street, Assigned, Driveway
Total Parking Spaces 12
Garage No
Building
Lot Description Easements, Level
Story 9
Foundation Stone
Sewer Public Sewer
Water Public
Schools
Elementary Schools Southbridge
Middle Schools Southbridge
High Schools Southbridge
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Bought with Renee VanderZicht • VanderZicht Real Estate, Inc.
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