3 Chelsea Street, Worcester, MA 01610

ACCESS & CONNECTIVITY

The Property is a short drive from downtown Worcester and Union Station, the city’s primary intermodal hub, which provides MBTA Framingham/Worcester Line commuter rail service to Boston’s South Station as well as intercity bus service operated by carriers such as Greyhound and Peter Pan.

Local bus service is provided by the Worcester Regional Transit Authority (WRTA), with multiple routes operating along nearby arterial corridors and linking the neighborhood to key destinations including the downtown core, Worcester State University, and major retail and employment nodes.

Highway access is also strong, with quick connections to Route 146, I 290, and the regional highway network, facilitating efficient automobile access to I 90 (Mass Pike) and surrounding Central Massachusetts communities.

AREA AMENITIES & DEMAND DRIVERS

The Property is located within close proximity to major healthcare and life sciences anchors such as UMass Memorial Medical Center - University Campus, which is part of the region’s largest employer network, alongside other major institutions including UMass Chan Medical School, Reliant Medical Group, and Saint Vincent Hospital.

These healthcare systems, combined with major corporate employers such as The Hanover Insurance Group and Saint-Gobain, provide a stable and diversified employment base that supports renter demand across a wide range of income levels.

The Property is also supported by strong lifestyle and entertainment amenities that enhance tenant appeal, including proximity to downtown Worcester attractions such as DCU Center, a major venue for concerts, sports, and events, as well as arts and cultural destinations like Worcester Center for Crafts.

NEARBY HIGHER EDUCATION

The Property is just 0.3 miles from College of the Holy Cross, a leading Jesuit liberal arts college with over 3,100 undergraduate students and over 300 full time faculty members. This steady stream of students and faculty provides consistent demand for individuals seeking nearby off-campus housing.

In addition, Worcester is home to other nearby higher education institutions such as Worcester Polytechnic Institute, Clark University, and Quinsigamond Community College, generating consistent demand from students, faculty, and staff for nearby apartment housing.

UPSIDE POTENTIAL WITH RENT GROWTH

In-place rents are below the current market rates; the opportunity exists to continue to upgrade unit interiors and common areas to drive rental rates in an urban-infill, high demand/supply constrained residential market.

UTILITIES

Tenants are responsible for heat and electricity, which they pay directly. The Landlord is responsible for providing gas powered hot water and municipal water & sewer.

PARKING REVENUE

The Property features five (5) garage bays which are all currently rented. The property features a garage space which has been leased to a single tenant for nearly a decade.

STRONG RENTAL DEMOGRAPHICS & DEMAND

More than 36,200 people live within 1 mile of the Property with an average household income of $75,403. Over 164,200 people reside within 3 miles of the Property with an average household income of $92,130.

QUALITY OF LIFE AMENITIES

The immediate area offers a strong concentration of quick-service and national dining options, including nearby Dunkin' locations throughout the city, providing convenient coffee and breakfast options, as well as Wendy's for fast-casual dining and Wingstop for takeout-oriented dining. These are complemented by local favorites such as Miss Worcester Diner, a well-known staple for breakfast and comfort food.

Retail amenities in the area are anchored by several convenient and value-oriented shopping options, including nearby Dollar Tree locations, which offer low-cost household goods and everyday necessities, as well as Price Rite, known for its affordability and grocery selection. Additionally, Walmart provides a full-service retail option with groceries, general merchandise, and essential goods.

Outdoor recreation is also readily accessible, with nearby green spaces such as Green Hill Park offering expansive open space, walking trails, and recreational amenities, as well as Lake Quinsigamond, which provides opportunities for boating, waterfront activities, and scenic views.