Description

Investment Property For Sale in Webster, MA

There are two (2) properties directly next door to each other. 21 Lake Street has four (4) units. There are two (2) 2‐ bedroom apartments, and two (2) 1‐bedroom apartments. There are new boilers, with town water and sewer. The tenants pay their own utilities, which is oil heat, electricity, and hot water. It is completely rented with all TAW’s. There is a large 12 car parking lot which both buildings share.

The apartment complex located at 23 Lake Street was built in 1988, and is in excellent condition. It has six (6) 1‐bedroom apartments. They all have a large kitchen and living areas. The water heaters were replaced recently. There is a coin‐op washer & dryer in the cellar. The tenants pay their own utilities with electric heat, electricity, and hot water. It is completely rented with all TAW’s.

The annual income for both properties generates nearly $80,000.00 annually. The Pro‐forma NOI is $45,825 after taking vacancy, management fees, and reserves into consideration.

  • Number of Units: 10
  • Heating Fuel: Gas & Electric ‐ Separately Metered.
  • Water & Sewer: Town.
  • Bedrooms: 12. / Bathrooms: 10.
  • Recently Replaced Furnaces & Water Heaters
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