17 Unit Apartment Bldg Sold for Record Price

NAI Glickman Kovago & Jacobs recently sold a 17-unit apartment building located at 3-5 Rugby Street, Worcester, MA for $1,475,000, just under $87,000 per unit. The transaction closed on 2/1/ 2018 between Rugby Street, LLC and CAJ RUGBY, LLC

NAI Glickman Kovago & Jacobs worked with Rugby Street, LLC and their property management company, May Property Management, LLC. The owner and property manager made many improvements to the building over the past three years. They entered into a lease with Friendly House, Inc enhancing the property’s value. Friendly House, and the Friendly House Shelter & Scattered Sites Program, is a temporary emergency shelter program helping families become self-sufficient.

Matthew Mayrand and Daniel Hollis,both from NAI Glickman Kovago & Jacobs, represented Rugby Street, LLC in this transaction.