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Leicester Garden Apartments 1669-1671 Main St 24 Unit Apartment Building $5,665,000 ($236,042/Unit) 6.73% Cap Rate Leicester, MA 01524
INVESTMENT HIGHLIGHTS
- 24-Unit Apartment Complex
- (2) One Bedroom & (22) Two Bedroom Units
- Tenant Paid Electric
- Recent Capital Improvements
- Select Balcony Units
- Ample Off Street Parking
EXECUTIVE SUMMARY
Northeast Private Client Group is pleased to present Leicester Gardens, a well-maintained 24-unit multifamily community located at 1671 Main Street in Leicester, Massachusetts
The property is comprised of (2) one-bedroom and (22) two-bedroom apartment with select units providing exterior balconies for extra space. Each unit is heated through tenant-paid electric baseboard systems, while landlord-paid hot water is supplied by a central electric system.
Residents benefit from ample off-street parking, on-site laundry facilities and professional management. The building is within 20 minutes to downtown Worcester and less than a mile to numerous amenities such as Walmart, Starbucks, AT&T, Cumberland Farms, etc. The property has been consistently maintained and has had recent capital improvements.
Leicester Gardens represents a compelling opportunity to acquire a stable, income-producing asset in a desirable Central Massachusetts community with continued rental demand and strong operational fundamentals.
The property is comprised of (2) one-bedroom and (22) two-bedroom apartment with select units providing exterior balconies for extra space. Each unit is heated through tenant-paid electric baseboard systems, while landlord-paid hot water is supplied by a central electric system.
Residents benefit from ample off-street parking, on-site laundry facilities and professional management. The building is within 20 minutes to downtown Worcester and less than a mile to numerous amenities such as Walmart, Starbucks, AT&T, Cumberland Farms, etc. The property has been consistently maintained and has had recent capital improvements.
Leicester Gardens represents a compelling opportunity to acquire a stable, income-producing asset in a desirable Central Massachusetts community with continued rental demand and strong operational fundamentals.
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PROPERTY FACTS
| Price | $5,665,000 | Apartment Style | Low-Rise |
| Price Per Unit | $236,042 | Building Class | C |
| Sale Type | Investment | Lot Size | 3.38 AC |
| Cap Rate | 6.73% | Building Size | 21,942 SF |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | ||
| Zoning | N/Av | ||
| Price | $5,665,000 |
| Price Per Unit | $236,042 |
| Sale Type | Investment |
| Cap Rate | 6.73% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 3.38 AC |
| Building Size | 21,942 SF |
| No. Stories | 3 |
| Year Built | 1958 |
| Zoning | N/Av |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Oven
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PROPERTY TAXES
| Parcel Number | LEIC-000018AA000002 | Improvements Assessment | $1,856,500 |
| Land Assessment | $2,893,300 | Total Assessment | $4,749,800 |
PROPERTY TAXES
Parcel Number
LEIC-000018AA000002
Land Assessment
$2,893,300
Improvements Assessment
$1,856,500
Total Assessment
$4,749,800
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Leicester Garden Apartments | 1669-1671 Main St
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