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Virginia House The Butts 42 Unit Apartment Building $3,664,077 ($87,240/Unit) 4.95% Cap Rate Worcester WR1 3PA
INVESTMENT HIGHLIGHTS
- 18 Studio Rooms, 12 Studio Delux Rooms & 12 Double Rooms.
- The property is situated in Worcester city centre, adjacent to The Hive Library.
- The property has been converted & refurbished to a high specification.
- Provides long term income security with minimal asset management input.
- Ground floor cinema room, gym, dining and recreational areas.
- Only 450 m from The University of Worcester City Campus.
- Let in its entirety to Virginia House Ltd for a term of 125 years from March 20.
- Freehold.
EXECUTIVE SUMMARY
The property is available for offers in excess of 2,750,000 for the freehold interest, based upon the topped up rent of £145,000 per annum, a purchase at this level reflects a net initial yield of 4.95%.
PROPERTY FACTS
| Price | $3,664,077 | Property Subtype | Apartment |
| Price Per Unit | $87,240 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 4.95% | Lot Size | 0.23 AC |
| Tenure | Freehold | Building Size | 15,332 SF |
| No. Units | 42 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1979/2020 |
| Price | $3,664,077 |
| Price Per Unit | $87,240 |
| Sale Type | Investment |
| Cap Rate | 4.95% |
| Tenure | Freehold |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 15,332 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1979/2020 |
AMENITIES
UNIT AMENITIES
- Microwave
- Kitchen
- Oven
- Wi-Fi
SITE AMENITIES
- Wi-Fi
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 30 | - | - |
| 2+2 | 12 | - | - |
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Virginia House | The Butts
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