15 Bowdoin St Worcester, MA 01609

This exceptional multifamily investment property, located at 15 Bowdoin St, Worcester, MA 01609, presents a compelling value-add opportunity. The portfolio comprises 21 units across five buildings, offering a diverse mix of studio, one-bedroom, two-bedroom, and three-bedroom apartments, totaling 17,664 net rentable square feet. Currently boasting 36 beds, the property features ample parking with 25 spaces, a significant advantage in this market. The current Net Operating Income (NOI) stands at $214,059, yielding a 5.35% cap rate. However, a comprehensive value-add strategy is projected to significantly increase profitability, with a pro-forma NOI of $337,359 and a pro-forma cap rate of 8.43%. The asking price is $4,000,000, translating to an attractive price per unit of $261. The property's strategic location, approximately 0.6 miles from Worcester Polytechnic Institute (WPI), makes it highly desirable for student housing and long-term tenants. The existing buildings offer immediate income generation, while the potential for rent increases and property upgrades presents a clear path to enhanced returns. This portfolio represents a rare chance to acquire a well-positioned multifamily asset with substantial upside potential in a thriving Massachusetts market. Detailed financial statements and property information are available upon request.