This Multifamily Property is no longer advertised on LoopNet.com.
38 Cedar St
Cedar Arms · Multifamily Property For Sale
·
36 Units
INVESTMENT HIGHLIGHTS
Strong NOI, Low Vacancy (97% occupied) and Exceptional Tenant/Student Housing Demand
1/4 Mile from Worcester State's School of Science, Technology & Health and Clark University's School of Design and Technology
Ample Off-Street Parking including Parking Garage and Carport
Located across Street from WPI's South Village Student Center (~0.5 Mile from WPI Main Campus) and WPI Shuttle Stop
Solid Brick and Heavy Steel Construction; Upgraded Heating System and New Boiler Installed Fall 2021.
Tenant Amenities include Wifi Hubs in Each Apartment; Laundry Room and Storage
PROPERTY FACTS
No. Units
36
Property Type
Multifamily
Property Subtype
Apartment
Apartment Style
Mid-Rise
Building Class
C
Lot Size
0.72 AC
Building Size
42,960 SF
Average Occupancy
53%
No. Stories
4
Year Built
1942
Parking Ratio
0.65/1,000 SF
Zoning
MF
AMENITIES
UNIT AMENITIES
SITE AMENITIES
UNIT MIX INFORMATION
DESCRIPTION
NO. UNITS
AVG. RENT/MO
SF
3+1
7
$2,050
966 - 1,008
2+1
29
$1,750
738 - 800
PROPERTY TAXES
Parcel Number
WORC-000002-000046-000050
Improvements Assessment
$3,109,100
Land Assessment
$2,520,000
Total Assessment
$5,629,100
