Residential Rental Investment Property 3 Buildings+ Garages

Multi-Family for Sale
Catylist Listing ID: 30658612
Number of Units: 8 Units
Building Size (RSF): 5,398 SF
Gross Land Area: 0.23 Acres
Sale Price: $829,000
Unit Price: $103,625 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 10/27/2020

Overview / Comments

Front 4 family structure @ # 105-107 Foundry Street...1st floor has two 2 Bedroom units (front & back). 2nd & 3rd floor units are 3 Bedrooms each.
Rear 3 family structure @ # 103 Foundry Street...all 2 Bedroom units.
Separate 3-4 bedroom single family home @ 109 Foundry Street to the left of multi-family structures (parking for all units between MFs & SF). Approx. 6 car garage is attached to single family residence.
Established tenants currently at below market rent. Rent information available.
Expenses: Taxes $9,483, Insurance $4,739, Water $3,254, Sewer $3,968, House Met $711, Dumpster $ 2,100...Total expenses=$24,255/yr
Note: Replacement windows in the two Multi-family structures

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Tax ID/APN: CF 5-180
Zoning: RES
Percent Occupied: 100%
Community Amenities: Business Center, Play Ground
Property Located Between: Broad Street (rte. 114) & Fletcher Street
Highway Access: Broad Street to Cross Street east to Interstate Rte. 95 north and south to all points.
Airports: Rhode Island International Airport, Warwick, RI
Site Description: Level
Area Description: Heart of City...easy access to most amenities from shopping to highway.
Total Number of Buildings: 3
Property Condition: Good
Number of Stories: 3
Year Built: 1900
Roof Type: Gable
Construction/Siding: Vinyl Siding
Parking Type: Surface
Parking Description: Multi car parking available on site / off street. Approx. 1 per unit (total of 8 res. units)...Additional 6 car garage on property.
Total Parking Spaces: 9
Sprinklers: None
Heat Type: Natural Gas, Hot Water, Space Heaters
Heat Source: Baseboard, Other
Fuel: Gas
Air Conditioning: Window Unit
Zoning Description: Res
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Parcel 5-180 + Parcel 5-179

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 37,678 154,906 324,205
Median Age: 33.1 37.17 36.75
Households: 14,668 61,632 127,450
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