44 South St & 50 W Main St
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44 South St & 50 W Main St
2 Multifamily Properties Offered at $3,395,000 in Westborough, MA
Investment Highlights
- 29 Unit Mixed-Use Property
- Significant Capital Improvements in 2021
- Residential, NNN Retail and Single Room Occupancy Units
- Additional Coin-op Laundry Income
Executive Summary
Northeast Private Client Group is pleased to present The Westborough Portfolio located at 44 South Street & 50 W Main Street in Westborough, MA.
The South Street building is a 9,214 SF building, built in 1912, sitting on 5,188 SF consisting of 14 units. Residential units are comprised of 12 furnished rooms (SRO) and (1) furnished studio. Common area restrooms on 2nd and 3rd floor along with a common area/kitchen for tenants on 3rd third floor. Retail space with a restaurant/bar, long-term tenant with a NNN lease, family-owned business that has occupied the space this year for 50 years. Significant capital improvements in 2021 include new HVAC systems, vinyl windows, sprinkler system, fire alarm & security camera system, wall insulation, flooring, light fixtures, carpentry, painting, common area kitchen & bathrooms and new electrical panels. Other improvements include furnishing all rooms with TVs, fridge & bedroom set.
W Main Street is a 7,113 SF mixed-residential building, built in the 1900s consisting of 15 units. The property has four (4) one-bedrooms, two (2) studio apartments & nine (9) SRO units. All single room occupancy units have a sink in their units, others even have stoves. The building has a fully sprinklered system & hard-wired smoke/CO detectors. One gas fired furnace with four thermostats zones. Two (2) 200 AMP electrical panels, updated eat-in kitchen, updated common baths on 2nd and 3rd floor, coin-op machines in basement.
All interested and qualified parties will have the opportunity to tour properties during scheduled appointments & obtain additional information upon request.
The South Street building is a 9,214 SF building, built in 1912, sitting on 5,188 SF consisting of 14 units. Residential units are comprised of 12 furnished rooms (SRO) and (1) furnished studio. Common area restrooms on 2nd and 3rd floor along with a common area/kitchen for tenants on 3rd third floor. Retail space with a restaurant/bar, long-term tenant with a NNN lease, family-owned business that has occupied the space this year for 50 years. Significant capital improvements in 2021 include new HVAC systems, vinyl windows, sprinkler system, fire alarm & security camera system, wall insulation, flooring, light fixtures, carpentry, painting, common area kitchen & bathrooms and new electrical panels. Other improvements include furnishing all rooms with TVs, fridge & bedroom set.
W Main Street is a 7,113 SF mixed-residential building, built in the 1900s consisting of 15 units. The property has four (4) one-bedrooms, two (2) studio apartments & nine (9) SRO units. All single room occupancy units have a sink in their units, others even have stoves. The building has a fully sprinklered system & hard-wired smoke/CO detectors. One gas fired furnace with four thermostats zones. Two (2) 200 AMP electrical panels, updated eat-in kitchen, updated common baths on 2nd and 3rd floor, coin-op machines in basement.
All interested and qualified parties will have the opportunity to tour properties during scheduled appointments & obtain additional information upon request.
Data Room Click Here to Access
Taxes & Operating Expenses (Actual - 2023) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
$99,999
|
| Vacancy Loss |
$99,999
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
Property Facts
| Price | $3,395,000 | Status | Active |
| Price / SF | $193.08 / SF | Number of Properties | 2 |
| Sale Conditions | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 8% | Total Building Size | 17,583 SF |
| Sale Type | Investment | Total Land Area | 0.31 AC |
| Price | $3,395,000 |
| Price / SF | $193.08 / SF |
| Sale Conditions | Bulk/Portfolio Sale |
| Cap Rate | 8% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 17,583 SF |
| Total Land Area | 0.31 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 50 W Main St, Westborough, MA 01581 | Multifamily | 7,113 SF | 1900 | - |
| 44 South St, Westborough, MA 01581 | Multifamily | 10,470 SF | 1920 | - |
Contacts
-
Edward Jordan -
Francis Saenz -
Drew Kirkland -
James Casey -
Patrick Wheeler -
Stephen Cerrone -
Northeast Private Client Group
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44 South St & 50 W Main St
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