34-44 Overlook St - Apartments FOR SALE


Whitinsville, MA 01588
$1,600,000 USD
781-776-4000
34-44 Overlook St, Whitinsville, MA for Sale
$1,600,000 USD
Apartments - FOR SALE
1/16
null | 7.17% Cap Rate

34-44 Overlook St
Whitinsville, MA 01588


HIGHLIGHTS

  • Desirable Location
  • Value-Add Potential
  • Separate Utilities
  • Quality of Life Amenities
  • Strong Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a multifamily investment property located at 34-44 Overlook Street in Northbridge, Massachusetts (the “Property”). The three-story building contains a total of six (6) residential units composed of 4-Bedroom/1-Bathroom direct-entry townhouse units with 7,581 square feet of living area in 12,300 square feet of total gross area on a 0.52-acre parcel. The Property also features twelve (12) on-site parking spaces. In-place rents for 4/6 units are below the current market rent for comparable units in the area, offering the Buyer the potential to raise rents and increase current revenue through programmatic upgrades of unit interiors. The cash flow for the property benefits from separately metered utilities except for municipal water and sewer. There is no common area electric bill as there are 6 separate basements and no common area. The property is well-located along Overlook St in the Whitinsville neighborhood of Northbridge. Whitinsville offers quiet residential neighborhoods and contains the majority of Northbridge’s commercial development. The Property is positioned just north of Main Street, the area’s primary commercial corridor, and provides convenient access to municipal offices, area schools, retailers, restaurants and the area’s largest employers. The Property is also close to the area’s major roadways. Over 19,500 people live within 3-miles of the Property with an average household income of $140,363.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$278 USD /SF

# OF UNITS

6

PRICE/UNIT

$266,667

CAP RATE

7.17%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1910

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,746 SF

ZONING

-

APN/PARCEL ID

NBRI-000006-A000007

ASK ABOUT THIS PROPERTY

Dennis KelleherHorvath & TremblayMore Info
781-776-4000

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Dennis KelleherHorvath & TremblayMore Info
781-776-4000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.