Cap Rate
7.44%
Tot. SF
14,760
0 Townhouse Ct, Spencer, MA, 1562
TOWNHOUSE COURT APARTMENTSclosed
Key Information
$ per unit
$227,778
Units
18
Year Built
1970
Type
Apartments
Leasable Area
23,216
Highlights
- IMMEDIATE VALUE-ADD OPPORTUNITY: Under-market rents and partial renovations offer clear upside through unit upgrades and rent increases.
- DESIRABLE UNIT MIX AND CONFIGURATION: All 18 units are two-bedroom, townhouse-style apartments with direct access, catering to a strong, long-term tenant base.
- STRONG LOCATION & REGIONAL ACCESS: Situated directly off Route 9, with quick access to the Mass Pike (Route 90), Downtown Worcester, and Worcester Regional Airport.
- TENANT- PAID UTILITIES: Individually metered for heat, hot water, and electric, lowering operating expenses for the landlord.
- RECENT CAPITAL IMPROVEMENTS: Exterior and landscaping upgrades completed; interior renovations in 12 units have proven out rent growth potential.
- BARRIERS TO NEW DEVELOPMENT: Limited new supply in Spencer and surrounding towns enhances the appeal of well-located existing assets.
Photos
Location
Agents
N
Nick JasinskiLicense # 9629105-RE-B (MA)
Broker of Record
Kyle Matthews
License # 1000083-RE-RB (MA)Matthews Real Estate Investment Services, Inc1600 West End, Ste. 1500 Nashville, TN 37203