197 Everett StSouthbridge, MA 01550

Property Details for 197 Everett St

Year built

1890

Property size (Sq ft)

6,390 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a meticulously renovated six-unit apartment building located at 197 Everett Street in Southbridge, Massachusetts. Built in 1890 and extensively renovated in 2017, this three-story building boasts 6,390 square feet of net rentable space situated on a 4,356 square foot lot. The property features updated kitchens and bathrooms in each of its six units, offering strong tenant appeal. Currently operating at a 6% occupancy rate, the building generates a substantial net operating income (NOI) of $82,036, resulting in a compelling 6.84% capitalization rate. The asking price is $1,200,000, translating to $200,000 per unit. Further enhancing its value proposition, the building is equipped with owned solar panels, contributing to energy efficiency and cost savings. Its convenient location, less than half a mile from downtown Southbridge and within 15 minutes of the Amazon Distribution Center, Walmart, and Harrington Hospital, ensures strong rental demand. The property is zoned R3 and comes with readily available de-lead certificates. This is a stabilized investment with a proven rental history, making it an ideal addition to any portfolio.

Location Insight

City

Southbridge

County

Worcester

State

Massachusetts

Latitude

42.0692

Longitude

-72.035

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