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


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%
Community Amenities: 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.

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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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