Value-Add Opportunity on 9-Unit in Worcester – Looking for Operator Input

[Victor Minaya]

Currently analyzing a 9-unit (3×3 deckers) in Worcester.

Rents are around $1,850/unit with strong in-place cash flow. One opportunity I’m looking at is adding laundry in the basement to increase NOI and tenant retention.

I’m also structuring this as a buy-and-hold and building out a local team since I’m out of state.

For those who have experience with similar assets:

• What expense ratios are you typically seeing?
• Any operational challenges with older 3-deckers I should be aware of?
• Have you seen good returns from adding laundry in similar properties?

Appreciate any insight from those who’ve operated in this space.