A renovated 7-unit property located at 6 Fruit Street in Worcester, MA, has been sold for $1,585,000. The asset encompasses a total of 5,682 square feet, resulting in a price per unit of $226,429 and a price per square foot of $279. The property offers a combination of 3-bedroom and 2-bedroom units with modern finishes, contributing to a strong monthly rent roll of $13,145. Additionally, it features off-street parking and presents potential for rent increases in a growing market with a cap rate of 7.35%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,585,000
• Units: 7
• Square Footage: 5,682
• Price Per Unit: $226,429
• Price Per Square Foot: $279
• Buyer's Representative: Gabriele Luzzi - Berkshire Hathaway HomeServices
• Seller's Representative: Ethan Lazar - Horvath & Tremblay

The transaction involved key representatives from both sides, with Gabriele Luzzi representing the buyer through Berkshire Hathaway HomeServices and Ethan Lazar representing the seller as part of Horvath & Tremblay. Their expertise facilitated the successful completion of the deal.