249 Lincoln St, Worcester, MA, 01605 | $1,300,000
249 Lincoln Street is a fully renovated mixed-use investment property located in Worcester, MA. The three-story building consists of seven (7) total units, including four 2-Bedroom/1-Bathroom apartments, one Studio apartment, and two Commercial units. The property contains approximately 7, 135 square feet of gross living area within 11, 635 square feet of gross building area and is situated on a 0. 15-acre parcel with over four off-street parking spaces. The residential units have been recently renovated, helping drive strong rental income while minimizing future capital expenditures. Each unit is separately metered for heat, hot water, and electricity, which tenants pay directly, improving overall net operating income. The commercial units provide stable income with more than three years remaining on both leases each with annual increases. The property strategically sits less than one block from UMass Memorial Medical Center – Hahnemann Campus and is offered at an 8. 68% cap rate.
Features
- Amenities: Medical Facility
- Rooms: 21
- Bedrooms: 8
- Baths: 5 full / 2 half
- Units: 7
- Year Built: 1920
- Approx Sq. Feet: 7,256
- Acreage: 0.15
- Est. Taxes: $18,245
- MLS#: 73484138
- Website: https://www.raveis.com
/prop/73484138/249lincolnst_worcester_ma?source=qrflyer
Listing by Ethan Lazar courtesy of Horvath & Tremblay Phone: 781-776-4000
William Raveis Family of Services
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888.699.8876
Contact@raveis.com
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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
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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- Provides a guaranteed closing date that meets your needs
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Paul BerriosRegional SVP, Insurance Sales Producer, William Raveis Insurance
978-337-3053
Paul.Berrios@raveis.com
Our Insurance Division:
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
249 Lincoln St, Worcester, MA, 01605
$1,300,000
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 | $1,040,000 | $1,040,000 | $1,040,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.000% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.086% | 6.183% |
| Monthly Tax Payment | $1,520 | $1,520 | $1,520 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $5,905 | $6,235 | $8,776 |
| Total Monthly Payment | $7,550 | $7,880 | $10,421 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
MA Mortgage Lender and Mortgage Broker #MC2630