Catylist ID: #30749594
Multi Family Portfolio
Multi-Family for Sale
|Catylist Listing ID:||30749594|
|Property Subtypes:||Duplex/Fourplex, Low-Rise/Garden|
|Number of Units:||14 Units|
|Building Size (RSF):||9,080 SF|
|Gross Building Area:||15,193 SF|
|Gross Land Area:||21,803 SF|
|Unit Price:||$68,214.29 Per Unit|
|In Opportunity Zone?||Yes|
|Property Use Type:||Investment|
|Building Name:||Mineral Spring Ave Portfolio|
|Usable Size (USF):||9,080 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||85|
Overview / Comments
This multi family portfolio consists of 3 separate buildings totaling 14 units.
Building 1: 80 Mineral Spring with 4 units. 3 of the 4 apartments have been fully renovated. Separate utilities. Gross income $3,050 monthly. Valued at $315,000.
Building 2: 86-88 Mineral Spring with 3 units. Freshly painted. This property is heated with a single oil boiler so heat/hot water are included in the rent. There is a gas line running to the property but has never been connected or activated. Gross income is $2,200 monthly. Valued at $245,000.
Building 3: 94 Mineral Spring with 7 units. New roof and new steam boiler. First floor apartments (3 units) pay their own heat, the new steam boiler provides heat to the second and third floor apartments (4 units). Gross income is $3,950 monthly. Valued at $395,000.
The buildings are situated in a courtyard type setting with ample tenant parking in the center. 80 & 94 have full basements. Coin laundry.
There is significant upside potential with these units as the rents are well below market. All buildings will be delivered with compliant fire alarm systems.
Note: Sold as a portfolio only. Properties can not be purchased individually. Call agent for details.
Attachments & Media
|Finance Data Year||2021|
|Real Estate Taxes - Annual($)||$15,022 (Annual)|
|Tax Value Land||$169,500|
|Tax Value Improvements||$656,900|
|Assessed Value - Total($)||$826,400 (Annual)|
|Potential Rental Income||$132,600 (Annual)|
|Gross Operating Income||$112,600 (Annual)|
|Net Operating Income||$47,977 (Annual)|
|Actual or Proforma Year||Actual|
|Taxing Authority:||City of Pawtucket|
|Tax ID/APN:||PA 520775|
|Total Number of Buildings:||3|
|Number of Stories:||3|
|Heat Type:||Electricity, Natural Gas, Oil|
|Fuel:||Gas, Oil, Electric|
|Proximity:||1 mile||3 miles||5 miles|
Jim ConwayConway Commercial Group ECCPN Member
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