57-59, 61 Knight Street
Multi-Family
for Sale
| Catylist Listing ID: |
30699138 |
| Number of Units: |
3 Units |
| Building Size (RSF): |
3,669 SF |
| Gross Land Area: |
10,000 SF
|
| Sale Price: |
$436,000 |
| Unit Price: |
$145,333.33 Per Unit |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment |
| Building Name: |
57-59, 61 Knight Street |
| Usable Size (USF): |
3,669 SF |
| Sale Terms: |
Cash to Seller |
| Auction License Number: |
N/A |
| Cap Rate: |
Undisclosed |
| Last Updated: |
2/6/2021 |
Overview / Comments
|
PRIME INVESTMENT OPPORTUNITY WITH POTENTIAL FOR FUTURE BUILD. Well maintained triplex located in the Corn and Thread district of Central Falls. Conveniently located 0.9 miles from I-95. Unit 1 is 2 bed 1 bath, Unit 2 is 3 bed 1 bath and Unit 3 is 2 bed 1 bath with potential for an extra bedroom. Two heating systems, 3 separate gas lines, 3 apartment panels and house panel. Common coin-op laundry in basement with extra storage space. Detached 3 bay garage. Sale includes two lots 57 Knight Street, 61 Knight Street currently. Engineering in hand to subdivide 61 Knight into two buildable lots for duplexes. Large fenced in backyard. All units occupied. Call for more information. New Railroad Station, that is under construction, is about 1/2 mile down the street. With the removal of a large mill complex, the area is likely to see redevelopment in the area. Garage is currently used by seller but could be leased for approximately $5400 a year at or about $150 per bay per month
|
Financials
| Finance Data Year |
2021 |
| Real Estate Taxes - Annual($) |
$5,524 (Annual) |
| Tax Value Land |
$27,500 |
| Tax Value Improvements |
$165,100 |
| Assessed Value - Total($) |
$192,600 (Annual) |
| Potential Rental Income |
$37,200 (Annual) |
| Gross Operating Income |
$37,140 (Annual) |
| Net Operating Income |
$25,191 (Annual) |
| Actual or Proforma Year |
Proforma |
Additional Details
| Nearest MSA: |
Providence-Warwick |
| County: |
Providence |
| Taxing Authority: |
Providence |
| Tax ID/APN: |
CF 6-31/32 |
| Zoning: |
M-1 |
| Percent Occupied: |
100% |
| Restaurant(s) |
| Property Located Between: |
Knight Street & Central Street |
| Highway Access: |
0.9 miles from exit 28 on to I-95 |
| Airports: |
13.8 miles to TF Green Airport |
| Site Description: |
Corner lot. Fenced in. 3 Bay garage and paved driveway. |
| Area Description: |
Located in the Cone and Thread district of Central Falls. |
| Total Number of Buildings: |
2 |
| Property Condition: |
Fair |
| Number of Stories: |
3 |
| Year Built: |
1900 |
| Roof Type: |
Gable |
| Construction/Siding: |
Wood Shingle |
| Exterior Description: |
Wood shingled building. 3 Bay garage wood shingled. Paved driveway. Large back yard, fenced in. Large raised wooden deck in back yard. Corner lot. Side walks directly in front of the property. |
| Parking Ratio: |
1.4 (per 1000 SF) |
| Parking Type: |
Surface |
| Parking Description: |
3 garage bays in detached garage. Paved driveway to the side of the property and directly in front of garage. |
| Total Parking Spaces: |
5 |
| Sprinklers: |
None |
| Heat Type: |
Natural Gas |
| Heat Source: |
Baseboard |
| Fuel: |
Gas |
| Internet Access: |
Cable |
| Interior Description: |
3 units. Well maintained. Units 2 and 3 have access to an enclosed porch. Unit 1 is 2 bed 1 bath. Unit 2 is 3 bed 1 bath and unit 3 is 2 bed 1 bath with potential for another bedroom. |
| Zoning Description: |
Residential use. |
| Lot Frontage: |
100 |
| Lot Depth: |
100 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Land Ownership: |
Owned |
| Legal Description: |
Plat 6 lots 31 and 32 in Cone and Thread district of Central Falls neighborhood 50. |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
39,007 |
172,087 |
341,259 |
| Median Age: |
32.63 |
36.62 |
36.31 |
| Households: |
14,881 |
67,513 |
133,677 |
|
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