Overview

Green Hill Park Apartments is a 92-unit apartment community that consists of (7) 1 Bedroom, 1 Bathroom, (84) 2 Bedroom, 1 Bath & (1) 3 Bedroom, 1 Bath unit. With zoning approvals for 36 additional development units on an adjacent parcel, this investment is an excellent value-add opportunity. Attractive Unit Mix: The community consists of a desirable unit mix, with 90% of the apartments being two-bedroom units Growing Market & Dynamics: The city of Worcester is on the upswing with recent developments in the entertainment, tech and life-sciences space. The city continues to add jobs and attract people from several surrounding communities Tremendous Value-Add Opportunity: New ownership can capture a +/- $500/unit premium over current rent rates and a 35% return on capital investment by implementing a value-add strategy that includes upgrading unrenovated units and building out new amenity space Potential for Additional Units: The sale of the property includes city approvals to construct an additional 36 units on the site. Arrowpoint did not model for this nor include it in the price, so it is looked at as an “added bonus”. Plan is to explore this option down the road or include it as a selling point for the next owner