5 McNiff Street

Multi-Family for Sale
Catylist Listing ID: 30757523
Number of Units: 6 Units
Building Size (RSF): 5,232 SF
Gross Building Area: See Agent
Gross Land Area: 5,588 SF
Sale Price: $700,000
Unit Price: $116,666.67 Per Unit
Property Use Type: Investment
Building Name: 5 McNiff Street
Sale Terms: Undisclosed
Auction License Number: N/A
Cap Rate: 9.0%
Average Occupancy Rate: 90
Last Updated: 9/26/2021

Overview / Comments

Well kept 6 unit in downtown West Warwick. Three 2 bed 1 baths and three 3 beds 1 bath. Clean common hallways. Hard wired fire system. Large basement with common coin-op laundry. Utilities are separated and paid by the tenants. Dumpster on site and serviced by trash collecting company. Large private parking lot to the rear of the property for 8 cars. Great addition to any investment portfolio or a perfect first time investment property. Proforma gross income reflects rent increases going into effect between October and December. A complete breakdown of rents are available. Recent improvements include roof replacements, new driveway, all decks replaced, new ductless heat and AC in units, and soffits and gutters replaced. Call for more information.

Additional Details

Nearest MSA: Providence-Warwick
County: Kent
Taxing Authority: Kent County
Tax ID/APN: WW 006-0463-0-000
Zoning: COMM/R6
Percent Occupied: 90%
Property Located Between: Archambault Ave & Home Street
Highway Access: 3.7 miles from access to I95.
Airports: 7.5 miles from TF Green Airport
Site Description: Corner lot, surface level private parking lot to rear of the building, steel fence around perimeter of the property.
Area Description: Located in downtown West Warwick surrounded by residential dwellings in suburban neighborhood.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 3
Year Built: 1920
Roof Type: Gable
Construction/Siding: Vinyl Siding
Exterior Description: Vinyl siding, wood decks at front of the property. Blacktop streets and sidewalks with streetlights.
Parking Type: Surface
Parking Description: 8 spots on private surface level parking lot to the rear of the property.
Total Parking Spaces: 8
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Other
Fuel: Gas
Air Conditioning: Other
Internet Access: Cable
Interior Description: Clean and well maintained hallways. Three 2 bed 1 bath apartments and three 3 bed 1 bath apartments.
Zoning Description: Comm/R6: zoning for multifamily properties that are 5+ units and therefore considered commercial properties.
Lot Frontage: 55 Feet
Lot Depth: 102 Feet
Water Service: Municipal
Sewer Type: Municipal, Storm
Easements Description: N/A
Land Ownership: Owned by seller.
Legal Description: Lot: 463 Plat: 6

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,343 67,965 142,771
Median Age: 37.88 41.85 42.83
Households: 6,649 28,979 58,252

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