Pawtucket Rental Portfolio

Multi-Family for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30425436
Property Subtypes: Mid-Rise, Mixed Use
Number of Units: 31 Units
Building Size (RSF): 711 SF
Gross Building Area: 30,102 SF
Sale Price: $2,300,000
Unit Price: $74,193.55 Per Unit
Property Use Type: Investment
Building Name: 134 Harrison St, 635 Main St, 422 Pawtucket Ave
Usable Size (USF): 22,040 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: 8.5%
Average Occupancy Rate: 97
Last Updated: 6/14/2019

Overview / Comments

Three Apartment buildings and 1 garage with a total of 29 residential rental units, 2 retail units and 5 garage spaces for sale, 97% rented (see attached rent roll). Seller holds an assumable Fannie-Mae loan and the seller may be willing to hold some paper for the right buyer.
Rental income with 1 vacant unit is currently $28,950/month (see attached rent roll)
Property was appraised for 2.6 M, less than one year ago.
* NOTE - Correct addresses are 422 Pawtucket Ave, 0 Auburn St, 134 Harrison St, and 635 Main St. Reference Aerial view for correct buildings. Pawtucket Tax Assessors sites identify incorrect buildings.

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: Pawtucket
Tax ID/APN: PA 640848
Zoning: C-2
Percent Occupied: 97%
Total Number of Buildings: 4
Property Condition: Good
Number of Stories: 3
Year Renovated: 2014
Construction/Siding: Vinyl Siding
Parking Type: Surface
Heat Type: Natural Gas, Hot Water
Heat Source: Baseboard
Fuel: Gas

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 28,031 218,136 399,280
Median Age: 35.56 34.8 35.52
Households: 11,473 85,140 152,883

Contact

Photograph of Listing Agent

The John Risica Team

William Raveis Chapman Enstone
ECCPN Member
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