38 Benefit St, Worcester, MA, Massachusetts, property flyer

38 Benefit St, Worcester, MA, 01610 | $825,000

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.

Features

Rooms: 20
Bedrooms: 8
Baths: 6 full
Units: 6

Year Built: 1900
Approx Sq. Feet: 5,216
Acreage: 0.11
Est. Taxes: $6,690

Lot Desc: Corner Lot
MLS#: 73501042
Website: https://www.raveis.com
/prop/73501042/38benefitst_worcester_ma?source=qrflyer

The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
Listing by Ethan Lazar courtesy of Horvath & Tremblay Phone: 781-776-4000

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Kate RockettRVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 1500191

617.281.4872

Kate.Rockett@raveis.com

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38 Benefit St, Worcester, MA, 01610

$825,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Kate Rockett

RVP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 617.281.4872

Kate.Rockett@raveis.com

NMLS Mortgage Loan Originator ID 1500191

	5/6 (30 Yr) Adjustable Rate Jumbo*	30 Year Fixed-Rate Jumbo	15 Year Fixed-Rate Jumbo
Loan Amount	$660,000	$660,000	$660,000
Term	360 months	360 months	180 months
Initial Interest Rate**	5.250%	6.000%	5.750%
Interest Rate based on Index + Margin	8.125%
Annual Percentage Rate	6.069%	6.110%	5.932%
Monthly Tax Payment	$558	$558	$558
H/O Insurance Payment	$92	$92	$92
Initial Principal & Interest Pmt	$3,645	$3,957	$5,481
Total Monthly Payment	$4,295	$4,607	$6,131

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first 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.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.