Complete Renovated 5/6 Unit Multi-Family

Multi-Family for Sale
Catylist Listing ID: 30343445
Property Subtypes: Low-Rise/Garden
Number of Units: 5 Units
Building Size (RSF): 4,368 SF
Gross Building Area: 6,954 SF
Gross Land Area: 10,463 SF
Sale Price: $575,000
Unit Price: $115,000 Per Unit
Property Use Type: Investment
Building Name: 5/6 Unit with 4 Bay Garage
Usable Size (USF): 4,368 SF
Core Factor: 4,368%
Sale Terms: Cash to Seller
Cap Rate: 8.5%
Average Occupancy Rate: 4,368
Last Updated: 12/4/2018

Overview / Comments

Legal 5 unit (has 6 units) fully renovated in 2010 plus 4 bay garage. Renovations including new roof, siding, windows, doors, insulation, wiring, fire alarm, plumbing, plaster board, floors, kitchens, baths, hi-efficiency heating, and on-demand hot water. Building is equipped with in-house coin-op laundry and parking for 12. Great opportunity for owner-occupied or investor looking for a TURN-KEY property that requires no additional capital outlay.

Attachments & Media

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $7,575 (Annual)
Assessed Value - Total($) $237,000 (Annual)
Potential Rental Income $78,000 (Annual)
Gross Operating Income $70,356 (Annual)
Net Operating Income $49,106 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: Providence
Zoning: R2
Percent Occupied: 100%
Property Located Between: Atwells Ave and Mt. Pleasant Ave. Providence
Highway Access: Access to Rt. 6 and Rt. 10 to Rts. 95 and 295.
Airports: Providence
Site Description: Site is level, mostly paved or chipped paving, minimal grass, and fenced.
Area Description: Area is a mixture of single family and multi-family homes.
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 3
Year Built: 1930
Year Renovated: 2010
Roof Type: Gable
Construction/Siding: Vinyl Siding
Exterior Description: Exterior is completely new since 2010 including roof, siding, windows, doors, exterior security lighting and electrical service.
Parking Ratio: 2.7 (per 1000 SF)
Parking Type: Surface
Parking Description: Ample parking for 12 cars on site.
Total Parking Spaces: 12
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas
Internet Access: Cable
Interior Description: Completely renovated in 2010 with new kitchens, baths, doors, floors, windows, wiring, plumbing, fire alarm, insulation, and plasterboard.
Zoning Description: R2
Lot Frontage: 88
Lot Depth: 119
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 40,054 233,921 437,765
Median Age: 29.53 33.42 35.9
Households: 13,576 86,401 168,918

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