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

View FullscreenMap

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

Contact

© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither East Coast Commercial Property Network nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.