338-340 Main St - Apartments FOR SALE


Southbridge, MA 01550
$1,960,000 USD
508-425-1245
338-340 Main St, Southbridge, MA for Sale
$1,960,000 USD
Apartments - FOR SALE
1/27
null | 8% Cap Rate

338-340 Main St
Southbridge, MA 01550


HIGHLIGHTS

  • 8% Cap Rate
  • 13 Fully Leased Residential Units
  • 2 Retail Units - 1 Available
  • Free Municipal Parking Lot
  • Opportunity Zone Tax Credits Available
  • Historic Tax Credits Available

OVERVIEW

Motivated seller - all reasonable offers considered. Prime downtown mixed-use investment property with an 8% cap rate ideal for long term stability. Zoned CC in a designated Opportunity Zone with both capital gain & historic tax credits. Exceptionally maintained, including new roof & furnace. First floor includes two commercial spaces: a new 10-year convenience store lease & an available 539 SF vanilla box. 13 fully occupied market-rate residential units on floors 2 & 3 provide steady income. Adjacent to a free municipal parking lot. Walking distance to local amenities as well as the WRTA bus stop with free fare throughout the entire greater Worcester region! Southbridge supports a stable tenant base with ~18K residents & a median income of ~$34K. Located minutes from I90 & I84 with easy access to Boston & NYC. Don’t miss this exceptional opportunity!

FOR SALE DETAILS

PRICE

$1,960,000 USD

PRICE/SF

$213 USD /SF

# OF UNITS

15

PRICE/UNIT

$130,667

CAP RATE

8%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1907

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

CC

APN/PARCEL ID

SBRI-000035-000036-000001

ASK ABOUT THIS PROPERTY

John SnyderRedfinMore Info
508-425-1245

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John SnyderRedfinMore Info
508-425-1245

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