249 Lincoln St - Apartments FOR SALE


Worcester, MA 01605- Brittan Square
$1,300,000 USD
781-776-4002
249 Lincoln St, Worcester, MA for Sale
$1,300,000 USD
Apartments - FOR SALE
1/12
null | 9% Cap Rate

249 Lincoln St
Worcester, MA 01605
Brittan Square


HIGHLIGHTS

  • Recently Renovated & Strong Rents
  • Strong Location
  • Transportation & Connectivity
  • Separately Metered Utilities
  • On-Site Parking
  • Strong Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the mixed-use investment property located at 249 Lincoln Street in Worcester, Massachusetts (the “Property”). The three-story building contains seven (7) units comprised of four (4), 2-Bedroom/1-Bathroom units, one (1) Studio unit, and two (2), Commercial units with 7,135 square feet of gross living area in 11,635 square feet of gross area. The Property is situated on a 0.20-acre parcel with over four (4) off-street parking spaces. 249 Lincoln Street is fully renovated with strong in-place rents for both the residential and commercial units and features over three years of term remaining on both commercial leases. The residential units feature recent renovations that drive income and minimize future capital expenditures. Each unit is separately metered for heat, hot water, and electricity which the tenants pay directly further boosting the net operating income. 249 Lincoln Street is well-located in the Brittan Square neighborhood of Worcester, less than a block from the UMass Memorial Medical Center - Hahnemann Campus and minutes from downtown with excellent access to all the amenities the city has to offer. Worcester features a walkable downtown with a plethora of employment and entertainment opportunities. High profile attractions include the DCU Center and Palladium venues, and UMass Memorial Medical Center is the largest employer in the city. The Property benefits from proximity to major arterial roads, including Route 70, Route 9, Route 12, Route 122A, and Interstate 290, providing efficient connectivity throughout Worcester and the broader Central Massachusetts region, as well as direct access to the Massachusetts Turnpike (I-90) for travel to Boston and Western Massachusetts.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$145 USD /SF

# OF UNITS

7

PRICE/UNIT

$185,714

CAP RATE

9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

249 Lincoln St

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

B-L1

APN/PARCEL ID

WORC-000009-000013-000010

ASK ABOUT THIS PROPERTY

Dennis KelleherHorvath & TremblayMore Info
781-776-4002

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Dennis KelleherHorvath & TremblayMore Info
781-776-4002

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.