Southborough Multi-Family Homes

As a small town in Worcester County, Southborough has a lot of potential. With less than 10,000 residents, this town was named one of the best places to live in the country. It is constantly named as one of the wealthiest neighborhoods in Worcester County, and in the past year the home values in the area have gone up by 10.5 percent. That being said, investing in property here, specifically multi-unit homes, will give you quite a return on your investment.

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Purchasing a Multi-Family Home

If you are interested in purchasing a multi-unit home in the area, you will find that the median price is about $651,400. This price is quite a bit higher per square foot when you compare it to the properties in the Worcester area, but when compared to Boston, it is in a similar range. There are several homes in the area with multiple units that you can consider.

• Townhouses and Condos – These are units that are often owned by the tenants, which means that you will not receive a monthly income for the property. Typically, the tenants will pay an HOA fee to help cover the cost of maintenance that needs to be done on the building.
• Apartment Buildings – Apartments are options that have multiple units on each floor of the building. These can be small two-story buildings that were converted from a single-family home or a high-rise that has quite a few more floors.
• Duplexes, Triplexes, and Quadplexes – These are buildings that have multiple floors. Typically, a family will reside on a single floor in the home, which means that there can be two to four units per building.

Need help finding a multi-unit home in this area of Massachusetts? Then, call Boston City Properties today!

Selling a Multi-Family Home

Want to prepare your multi-unit property for sale so that you can move on? Fortunately, there are a few things that you can do in order to make things faster. Here's a list:

• Create Detailed Reports – When modern buyers are looking to purchase a investment property like a multi-unit home, you can bet that they will want as much detail as possible so that they can get a lock on their capitalization rate. To make things easier and to help convince them of the viability of the property, prepare some reports ahead of time. These reports can include lease records, utility bills, and expense reports from at least the last year. All of these will help the buyer see the value of the property.
• Attend to Deferred Repairs – Everyone that owns a property understands that sometimes you have to put off a repair due to budget and time. Now's the time to attend to these repairs so that the potential buyer can see the property in its best shape.
• See What's in the Area – Check out surrounding properties to see if they are owned by a single organization or individual. If so, approach this organization or individual to let them know that your property is on the market. Many investors will be intrigued, especially if your property is near to their, which will provide extensive convenience.

Selling a property takes time, but let us at Boston City Properties help you sell your property fast. Contact us for more information.

Neighborhoods in the Area

This town has four distinct neighborhoods; three of which are incorporated villages and the remainder is the town's center area.

• Cordaville – As the location of the town's school, Cordaville is a fairly sizeable section of town. There are more than 3,000 people in this section of town, and there are a wide variety of homes built in the period between 1940 and 1969.
• Southville –This section of town has somewhat higher home values than the rest of Southborough. There are also luxury apartments in this area that cost upwards of $3,000 per month.
• Fayville – Fayville is a beautiful suburban village that has a fairly spread out density of home options. This neighborhood is widely considered the reason why this town was voted number 31 in CNN Money's "100 Best Places to Live."
• Town Center – With rents in the high $1500s, the town center is a fairly affordable place to live. This part of town is primarily owner-occupied but there are options for renters as well.

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