38 Cedar St | Worcester, MA 01609
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38 Cedar St
Worcester, MA 01609
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 | Building Size | 42,960 SF |
| Property Type | Multifamily | Average Occupancy | 53% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid Rise | Year Built | 1942 |
| Building Class | C | Parking Ratio | 0.65/1,000 SF |
| Lot Size | 0.72 AC |
| 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 |
Unit Amenities
- Storage Space
- Hardwood Floors
- Wi-Fi
Site Amenities
- Laundry Facilities
- Wi-Fi
- Storage Space
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 |
PROPERTY TAXES
Parcel Number
WORC-000002-000046-000050
Land Assessment
$2,520,000
Improvements Assessment
$3,109,100
Total Assessment
$5,629,100
zoning
| Zoning Code | MF |
| MF |
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