Investors purchase 17-unit Worcester apartment building for $2.5M
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An apartment building at 3-5 Rugby Street in Worcester was sold to investors for $2.5 million.
An investment group purchased a 17-unit apartment building at 3-5 Rugby St. near Rice Square in Worcester for $2.5 million on Wednesday.
The buyer was 3 Rugby LLC, an affiliate of Ezzi Property Group, LLC of Methuen and Archer Acquisitions LLC of Watertown.
“With this property, we’ve entered the red-hot Worcester market and are looking to continue acquiring properties in the area,” read an Instagram post from Ezzi Property Group from Wednesday.
NAI Glickman Kovago & Jacobs Vice Presidents David Eldredge and Tim Whittredge represented the seller CAJ Rugby LLC of Dennis. CAJ Rugby purchased the property in 2018 for $1.5 million.
Friendly House, Inc. of Worcester, a human services nonprofit, leases 14 of the apartments in the building and will continue to do so under the new ownership, according to a press release from NAI Glickman Kovago & Jacobs.
The property is assessed by the City of Worcester for $2 million.
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