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1 Ludlow St 5 Unit Apartment Building $1,675,104 CAD ($335,021 CAD/Unit) 7.93% Cap Rate Worcester, MA 01603
EXECUTIVE SUMMARY
Five-unit investment property in Worcester with four units occupied and one currently vacant with projected market rent. The building has been extensively updated with improvements to the roof, windows, insulation, plumbing, electrical, kitchens, and baths, and each unit has separate utilities and dedicated hot water heaters. Exterior features include a wood deck, garden space, stone wall, and a paved driveway with parking for 12 cars, plus a full basement with laundry hookups and a rear walk-out offering potential for additional space. Convenient location near public transit, shopping, schools, universities, and major highways. Cap rate and NOI are based on current rents, while projected market rents indicate a cap rate of 10.24% and an NOI of $117,752.93. See the attached link for additional photos, floor plans, and a virtual tour.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,675,104 CAD | Property Subtype | Apartment |
| Price Per Unit | $335,021 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 7.93% | Building Size | 3,640 SF |
| Gross Rent Multiplier | 11.5 | No. Stories | 3 |
| No. Units | 5 | Year Built | 1900 |
| Property Type | Multifamily | ||
| Zoning | BL-1 - Multifamily Building | ||
| Price | $1,675,104 CAD |
| Price Per Unit | $335,021 CAD |
| Sale Type | Investment |
| Cap Rate | 7.93% |
| Gross Rent Multiplier | 11.5 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 3,640 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Zoning | BL-1 - Multifamily Building |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Stainless Steel Appliances
- Tub/Shower
- Carpet
- Basement
- Porch
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 10+5 | 5 | - | 3,640 |
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1 Ludlow St
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