Oread St Portfolio
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Oread St Portfolio
5 Properties Offered at £3,059,199 in Worcester, MA
Executive Summary
Major investment opportunity within the multifamily sector near Downtown Worcester for sale. Located within the Worcester Federal Designated Opportunity zone right off of Main Street. Three licensed rooming houses, 12, 15 & 21, Oread Street offer a value-add investment opportunity that provides investors with the ability to reposition the assets to optimize income with new management and capital improvements. Included in the sale are two additional parking lots located at 8 and 16 Oread St, which may offer additional opportunities as well.
15 and 21 Oread Street have historical brick Victorian architecture with high ceilings throughout. The two have a combined square footage of 10,717 square feet and a total of 30 rooms and 6 1/2 bathrooms.
Additionally, 12 Oread Street, a brick-built 14,899 square foot building includes 45 rooms and 16 bathrooms, plus a manager's apartment. The overwhelming demand for affordable housing in Worcester makes these properties a fantastic opportunity for the astute investor looking to capitalize on the ongoing revitalization of the downtown Worcester area.
15 and 21 Oread Street have historical brick Victorian architecture with high ceilings throughout. The two have a combined square footage of 10,717 square feet and a total of 30 rooms and 6 1/2 bathrooms.
Additionally, 12 Oread Street, a brick-built 14,899 square foot building includes 45 rooms and 16 bathrooms, plus a manager's apartment. The overwhelming demand for affordable housing in Worcester makes these properties a fantastic opportunity for the astute investor looking to capitalize on the ongoing revitalization of the downtown Worcester area.
Property Facts
| Price | £3,059,199 | Status | Active |
| Price / SF | £84.22 / SF | Number of Properties | 5 |
| Sale Conditions | Portfolio Sale | Individually For Sale | 0 |
| Net Initial Yield | 11.92% | Total Building Size | 36,323 SF |
| Sale Type | Investment | Total Land Area | 1.59 AC |
| Price | £3,059,199 |
| Price / SF | £84.22 / SF |
| Sale Conditions | Portfolio Sale |
| Net Initial Yield | 11.92% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 36,323 SF |
| Total Land Area | 1.59 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 16 Oread St, Worcester, MA 01608 | Land | 0.32 AC | - | - |
| 21 Oread St, Worcester, MA 01608 | Residential | 6,152 SF | 1900 | - |
| 8-12 Oread St, Worcester, MA 01608 | Residential | 25,606 SF | 1890 | - |
| 8 Oread St, Worcester, MA 01608 | Land | 0.08 AC | - | - |
| 15 Oread St, Worcester, MA 01608 | Speciality | 4,565 SF | 2018 | - |
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David Eldredge -
deldredge@glickmankovago.com
(508) 753-9100
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