Property Description

249 Lincoln Street is a fully renovated mixed-use investment property located in Worcester, MA. The three-story building consists of seven (7) total units, including four 2-Bedroom/1-Bathroom apartments, one Studio apartment, and two Commercial units. The property contains approximately 7,135 square feet of gross living area within 11,635 square feet of gross building area and is situated on a 0.15-acre parcel with over four off-street parking spaces.The residential units have been recently renovated, helping drive strong rental income while minimizing future capital expenditures. Each unit is separately metered for heat, hot water, and electricity, which tenants pay directly, improving overall net operating income. The commercial units provide stable income with more than three years remaining on both leases each with annual increases.The property strategically sits less than one block from UMass Memorial Medical Center – Hahnemann Campus and is offered at an 8.68% cap rate.