7 sycamore, Worcester, Massachusetts
7 sycamore, Worcester, Massachusetts 01608 - CASH COW, This property has been well kept by the same owners for many years, now retiring , It consists of two 1 bedroom apartments and a 15 room boarding house. completely compliant with license, sprinklers and an in house manager. Owner tells me that vacancy is not a problem, if someone moves out, there is someone ready to move in. Gross rent is $108,780 yearly. Expenses include 5% each for vacancy, management, and maintenance. This brings the net to $67,630.00. Most of the rent have been raised as of Aug 1st which improves the gross that are still below market and have not yet been put into this gross. A few of the tenants have been in the building several years. The income also does not include the coin op washer and dryers. There has never been a 5% vacancy. the 5% for management is not a statement of what this manage is being paid, but just an industry standard number. New owner can work out their own deal with this manage or their own new manager.
Listing Courtesy of Real Living Barbera Associates | Worcester
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