This centrally located value-add 6-unit property at 38 Benefit in Worcester, Massachusetts, consists of four 1-bedroom/1-bathroom units and two 2-bedroom/1-bathroom units, totaling 5,216 sq. ft. of living space on a 0.11-acre parcel. Each unit is separately metered for heat and electricity, and the owner is responsible for hot water and municipal water & sewer. The property benefits from brand new high efficiency Navien hot water heaters. Three of the six units have been recently renovated featuring new kitchens, updated bathrooms, and new flooring. There is an opportunity to dramatically increase rents in both the renovated units and through targeted upgrades to the remaining unrenovated units as all units are currently TAW. Listed at a 7.95% cap rate, this property represents a strong investment opportunity in the growing Worcester market.
38 Benefit St, Worcester, MA, 01610
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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