PRICE REDUCED!! 8 Unit Multi Family Investment Property

Multi-Family for Sale
Catylist Listing ID: 30534795
Property Subtypes: Low-Rise/Garden
Number of Units: 8 Units
Building Size (RSF): 5,442 SF
Gross Land Area: 27,747 SF
Sale Price: $599,000
Unit Price: $74,875 Per Unit
Property Use Type: Investment
Building Name: 82 Pond Street
Usable Size (USF): 5,442 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/16/2020

Overview / Comments

Solid 8 unit multi family investment property. Many improvements to this property include NEWPRO windows, updated electrical, new roof, new paved parking lot, fully compliant municipally connected fire alarm system (cost $30,000) with new compliance certificate, and more. This fully occupied property consists of 2 three bedroom units, 3 two bedroom units and 3 one bedroom units. There is an additional unit currently being used as storage/office. Full basement. Tenants pay their own utilities. Large additional undeveloped area that could be used for garages or storage units. This flat cleared lot is already approved and has plans for the construction of 14 garage units with leasing income potential of $175 per month each. This results in $2,450 per month or $29,400 per year of additional, trouble free income.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $15,312 (Annual)
Tax Value Land $84,100
Tax Value Improvements $365,600
Assessed Value - Total($) $449,700 (Annual)

Additional Details

Nearest MSA: Providence-Warwick
County: Kent
Taxing Authority: Town of West Warwick
Tax ID/APN: WW 006-0656-0-000
Zoning: R6
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 3
Year Built: 1900
Year Renovated: 2016
Roof Type: Arched
Construction/Siding: Vinyl Siding
Parking Type: Surface
Total Parking Spaces: 20
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Baseboard
Fuel: Gas
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,343 66,416 140,450
Median Age: 37.88 41.75 42.82
Households: 6,649 28,374 57,287

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