41.822025 -71.390945
$999,900
Active
5,000Lot Size
Commercial/Business in Providence
7.2% Cap Rate, Estimated $113,000 in annual gross rents and cash flow after mortgage of approx $20,000. Seven total units plus a garage on one lot. One three-family home and one four-family home on this one parcel comprise the 7 units. The front building is a 3-family with all 2-bedroom apartments (1 occupied, 2 vacant). The 4-family is located on the rear of the lot consisting of 2 2-bedroom units and 2 1-bedroom units (2 occupied, 2 vacant). Some of the apartments have electric baseboard heat. The two 1-bedroom units were recently remodeled with new kitchens, tile flooring, baths, granite counters etc. Great rental history to medical students/residents/fellows as well as Brown Univ. grad students. Tenants pay their own utilities w/ exception of 2 units where partial electric included. Potential for value add with condo conversion. Off-street parking available for roughly 6 vehicles. Newer roof on front building, replacement vinyl windows, and vinyl siding make this a great low maintenance investment opportunity. Located in the highly desirable Fox Point area on the East Side of Providence. This listing is part of a portfolio consisting of a total of 20 apartments with nearly $300,000 in annual gross rents. See MLS numbers 1244394 (123 Warren Ave, East Providence) and 1244418 (364 High St, Central Falls) for more info along with attached profit and loss statements. These properties can be sold as a package for the savvy investor or individually by MLS listing
Courtesy Of Keller Williams Realty NRI

Main Features

  • Listing Status: Active
  • Year Built: 1930
  • County: Providence
  • Taxes: $18,299.00
  • Subdivision: Fox Point / East Side Of Providence
  • MLS Number:1244414

Additional Features

  • Laundry:
    • In Building
  • Building Description:
    • Frame
  • Loading Dock:
    • None
  • Location:
    • Urban
  • Type:
    • Apartment
    • Commercial
    • Multi Family
    • Real Estate
    • Residential
  • Close To:
    • Bus
    • Commuter Bus
    • Golf
    • Highway Access
    • Hospital
    • Interstate
    • Private School
    • Public School
    • Railroad
    • Recreational Facilities
    • Schools
    • Shopping
    • Tennis
  • Electric:
    • 100 Amps
    • Circuit Breaker
  • Sewer:
    • Connected
  • Utilities:
    • Gas
    • Gas Connected
    • Municipal Water
    • Telephone
  • Number of Buildings:
    • 3
  • Road:
    • Black Tar
  • Water:
    • Connected
  • Owner Pays:
    • Management
    • Pest Control
    • Repairs
    • Sewer
    • Taxes
    • Water
  • Tenant Pays:
    • Electric
    • Gas
    • Heat
  • Above Grade SQFT:
    • 0
  • Annual Trash Expense:
    • 0.00
  • Cap Rate:
    • 7.20
  • Electric Exp:
    • 600.00
  • Fuel Exp:
    • 0.00
  • Gross Expenses:
    • 37205.00
  • Insurance Expense:
    • 2120.00
  • Inventory Expenses:
    • 0.00
  • Lot Size Sq Ft:
    • 5000
  • Maintenance Exp:
    • 5466.00
  • Onsite Parking Spaces:
    • 8
  • Operating Expense:
    • 37205.0000
  • Total Parking Spaces:
    • 8
  • Use Type:
    • Multi 5Plus
  • Vacancy Allowance:
    • 5%
  • Water Sewer Exp:
    • 3067.00
14 Breakneck Hill Road Suite 101 Lincoln RI 02865
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