250 rental unit portfolio up for sale; produces $1.8M annually
A portfolio of 250 rental units with an annual operating income of $1.8 million, most of which are located within Worcester County, have recently gone on the market.
The portfolio is being sold by Madison Hawk Capital Markets Group, and 94 percent of the properties for sale located in Massachusetts, mostly in Worcester County.
The portfolio consists of 41 single-family homes, 19 two-family homes, 35 three-family homes and 15 buildings with four or more units, all of which have undergone extensive capital improvements over the past five years, according to a release from Madison Hawk. The owner-managed properties maintain a 98.5 percent occupancy rate with a high quality tenant base and generate a net operating income of $1,770,000.
The company also has an internal management company already in place that is willing to serve as property manager after the sale, according to Madison Hawk.
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