Town House Ct - Apartments FOR SALE
Spencer, MA 01562 |
$4,250,000 USD
617-315-4844
Town House Ct
Spencer, MA 01562
HIGHLIGHTS
- Under-market rents and partial renovations offer clear upside through unit upgrades and rent increases.
- All 18 units are two-bedroom, townhouse-style apartments with direct access, catering to a strong, long-term tenant base.
- Situated directly off Route 9, with quick access to the Mass Pike (Route 90), Downtown Worcester, and Worcester Regional Airport.
- Individually metered for heat, hot water, and electric, lowering operating expenses for the landlord.
- Exterior and landscaping upgrades completed; interior renovations in 12 units have proven out rent growth potential.
- Limited new supply in Spencer and surrounding towns enhances the appeal of well-located existing assets.
FOR SALE DETAILS
PRICE
$4,250,000 USD
PRICE/SF
$453 USD /SF
# OF UNITS
18
PRICE/UNIT
$236,111
CAP RATE
7.18%
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
TOWNHOUSE COURT APARTMENTS
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1970
PARKING SPACES
37
LAND DETAILS
LAND ACRES
1.08 AC
LAND SF
47,197 SF
ZONING
SR
APN/PARCEL ID
SPEN-000015U-000063
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617-315-4844
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617-315-4844
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