70 Newland Ave

Multi-Family for Sale
Catylist Listing ID: 30757511
Number of Units: 6 Units
Building Size (RSF): 3,960 SF
Gross Building Area: See Agent
Gross Land Area: 6,446 SF
Sale Price: $575,000
Unit Price: $95,833.33 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: 70 Newland Ave
Sale Terms: Undisclosed
Auction License Number: N/A
Cap Rate: 9.0%
Average Occupancy Rate: 100
Last Updated: 9/26/2021

Overview / Comments

Fully occupied 6 unit in the heart of Woonsocket. Quick access to downtown amenities. All units are 2 beds 1 bath. Large basement with plenty of storage space and common coin-op laundry. Separated utilities with tenants paying electric and heat. Large private parking for 7 cars in front of building. Well kept and clean common hallways. Hardwired fire system. dumpster on site serviced by trash collection company. Strong positively cash flowing investment property. AC in 4 of the 6 units and 4 units recently renovated including heating systems. Call, text or email for more details. Proforma gross income reflects rent increases going into effect on October 1st.

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: Providence
Tax ID/APN: WO D5-40-15
Zoning: COMM/R4
Percent Occupied: 100%
Property Located Between: Laval & Victor St
Highway Access: 4.4 miles away from access to I295
Airports: TF Green is 23 miles away
Site Description: Corner lot, surface level private parking lot, small yard space on left and right of the building, wooden fence at rear of the property.
Area Description: Suburban Woonsocket.Property is located in the midst of other residential dwellings.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 3
Year Built: 1910
Roof Type: Gable
Construction/Siding: Vinyl Siding
Parking Type: Surface
Parking Description: 7 spots on a private parking lot in front of the building.
Total Parking Spaces: 7
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas, Hot Water, Space Heaters
Heat Source: Heat Pump, Other
Fuel: Gas
Air Conditioning: Other
Internet Access: Cable
Interior Description: Well maintained hallways. All units are 1 bed and 1 bath.
Zoning Description: Comm/R4: property is classed as a commercial property as it is 5+ units. This use is permitted with this zoning.
Water Service: Municipal
Sewer Type: Municipal, Storm
Land Ownership: Owned by seller.
Legal Description: Lot 4 Plat 40C

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,405 74,178 107,460
Median Age: 37.96 39.22 40.04
Households: 8,739 29,704 42,245


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