Turn Key Cash Cow 6 Unit with Future Expansion

Multi-Family for Sale
Catylist Listing ID: 30722824
Property Subtypes: Low-Rise/Garden
Number of Units: 6 Units
Building Size (RSF): 9,114 SF
Gross Building Area: 8,114 SF
Gross Land Area: 175,660 SF
Sale Price: $1,495,000
Unit Price: $249,166.67 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Building Name: 31-41 Mapleville Main
Usable Size (USF): 8,114 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 5/11/2021

Overview / Comments

INCREDIBLE OPPORTUNITY to own a six unit turn-key money maker! Newly constructed in 2006, here's a chance to own six fully rented units in twin structures. Each unit contains 2 beds and 2 ½ bath and is individually heated. That's a total of 12 Bedrooms and 18 bathrooms! Each tenant pays their own heat separately. Each unit also has finishable attic space with roughed for electrical ready to add a third bedroom (or office, media room, workout room, etc) increasing the potential income even further! All units have basements, 3 of which have walk-outs. Additional features include: Spacious 1,460 sq ft of space in each unit, newer roof, new well pumps and wiring, Laundry room in each unit and plenty of parking. Each unit recently appraised for 234k/ea and should be worth even more today. As if that's not enough, we have plans available to build an additional Four unit building for even more income! Plus it sits on over Four acres of total land ready to be developed so you can increase your income even further!

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: Burriilleville
Tax ID/APN: BU 214-29
Percent Occupied: 100%
Site Description: All units are roughed for turning attic into 3rd bedrooms and have basements, 3 with walk-outs
Area Description: 4 acres ready to be further developed to expand future income growth
Total Number of Buildings: 2
Property Condition: Excellent
Number of Stories: 2
Year Built: 2006
Construction/Siding: Vinyl Siding
Parking Ratio: 6 (per 1000 SF)
Parking Type: Surface
Parking Description: Private parking
Total Parking Spaces: 6
Laundry: In Each Unit
Heat Type: Oil
Heat Source: Baseboard
Fuel: Oil
Internet Access: Cable
Interior Description: Modern updated
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: To get to rear development

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 14,027 35,885
Median Age: 42.42 43.45
Households: 5,289 13,429

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