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April 26, 2023

Investors purchase 17-unit Worcester apartment building for $2.5M

Four story gray apartment building Photo | Google Maps An apartment building at 3-5 Rugby Street in Worcester was sold to investors for $2.5 million.

An investment group purchased a 17-unit apartment building at 3-5 Rugby St. near Rice Square in Worcester for $2.5 million on Wednesday. 

The buyer was 3 Rugby LLC, an affiliate of Ezzi Property Group, LLC of Methuen and Archer Acquisitions LLC of Watertown.

“With this property, we’ve entered the red-hot Worcester market and are looking to continue acquiring properties in the area,” read an Instagram post from Ezzi Property Group from Wednesday.

NAI Glickman Kovago & Jacobs Vice Presidents David Eldredge and Tim Whittredge represented the seller CAJ Rugby LLC of Dennis. CAJ Rugby purchased the property in 2018 for $1.5 million.

Friendly House, Inc. of Worcester, a human services nonprofit, leases 14 of the apartments in the building and will continue to do so under the new ownership, according to a press release from NAI Glickman Kovago & Jacobs. 

The property is assessed by the City of Worcester for $2 million.

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