Ware Portfolio
Multifamily | 8.01% CAP
Marketing description
Northeast Private Client Group is pleased to present the Ware Portfolio, a 20-unit, multi-building apartment portfolio situated across three contiguous parcels in Ware, Massachusetts. The portfolio spans 27 Parker Street, 28-30 North Street, 28.5 North Street, and 38 North Street, and consists of a diverse unit mix including studio, one-, two-, and three-bedroom apartments.
The offering presents a compelling value-add opportunity for investors seeking immediate mark-to-market potential. A meaningful portion of the rent roll reflects below-market rents on leases with near-term expirations, with several tenants paying meaningfully below proforma on units that will roll within the holding period. With competitors and submarket asking rents well above current in-place collections, the portfolio offers a clear path to improved cash flow through disciplined lease-up and renewals at market rates.
Tenants are responsible for their own utility expense, which is a combination of gas, electric, and oil.
Investment highlights
- Immediate Value-Add Upside Through Below-Market Rents
- Constrained Supply Environment Supporting Rent Growth
- Diverse Unit Mix Across a Contiguous Multi-Building Portfolio
- Strong Submarket Fundamentals with Low Competitive Vacancy
- Strategic Location with Access to Two Major New England Markets
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