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31854104
31854103

143-147 Vernon Street, Worcester, MA 01604

JK
9072828, MA 9072828
Re/Max Partners
Listed by Re/Max Partners
$2,275,000
45 days on market
Updated 45 days ago

143-147 Vernon Street

Details
Property Type Mixed Use, Retail
Square Footage 10,806
Units 16
Cap Rate 5.98%
NOI $135,970
Occupancy 100%
Tenancy Multi
Class A
Year Built 1900
Buildings 3
Stories 3
Acreage 0.550
Zoning RG-5
Parking Spaces 16 spaces
Parking Per SqFt 1.48
Investment Type Value Add
Ground Lease No
Ceiling Height 10

Mixed Use | 5.98% CAP | 10,806 SqFt

Marketing description

Exceptional investment opportunity to acquire a well-maintained mixed-use 8-unit portfolio, proudly held by the same family for two generations. The portfolio includes two three-unit buildings and one two-family, delivering a flexible and desirable unit mix. The property features abundant off-street parking, two parking areas and a three-car garage. Extensive care is evident throughout, with numerous updates to cosmetics, plumbing, electrical systems. Many units have updated kitchens, bathrooms, forced hot air heating systems and are outfitted with in unit washer and dryer to enhance tenant appeal. Rents are currently below market, presenting a compelling value-add opportunity with the ability to increase annual income conservatively by $40,000. Ideally located near major highways, hospitals, and Union Station, this asset offers strong fundamentals, excellent accessibility, and long-term upside.

Investment highlights

  • Exceptional investment opportunity to acquire a well-maintained mixed-use 8-unit portfolio, proudly held by the same family for two generations
  • The portfolio includes two three-unit buildings and one two-family, delivering a flexible and desirable unit mix
  • The property features abundant off-street parking, two parking areas and a three-car garage
  • Extensive care is evident throughout, with numerous updates to cosmetics, plumbing, electrical systems
  • Many units have updated kitchens, bathrooms, forced hot air heating systems and are outfitted with in unit washer and dryer to enhance tenant appeal
  • Rents are currently below market, presenting a compelling value-add opportunity with the ability to increase annual income conservatively by $40,000
  • Ideally located near major highways, hospitals, and Union Station, this asset offers strong fundamentals, excellent accessibility, and long-term upside

Listing Contacts

JK
9072828, MA 9072828
Re/Max Partners
Listed by Re/Max Partners

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$135,970.00
$11,330.83/mo

Valuation Metrics

0
DSCR
5.98%
Cap Rate
5.98%
ROI

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