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Browse More Listings in Multifamily For Sale, Narragansett, RI or Rhode Island

Multifamily Property For Sale

1084 Boston Neck Road

1084 Boston Neck Road, Narragansett, RI 02882

Price:
$1,300,000
No. Units:
14
Building Size:
4,724 SF
Price/Unit:
$92,857.14
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Additional Sub-types:
Economy/ Limited Service
Property Use Type:
Investment
Cap Rate:
8.50%
Year Built:
1935
Lot Size:
30,000 SF
Find Out More...

Last Verified 10/19/2009 Listing ID 14622945

Highlights

Great location near beaches & all conveniences
Steady cash flow
Low Maintenance Units

Vacancy Rate 5%
On site parking

Description

Great investment property with steady cash flow. Former motel converted to year round rental units. Well maintained, low maintenence units. Excellent occupancy rates. (Motel licensing in place.)

Prime area on US RT 1A near Bonnet Shores, Narrow River; golf, shopping, commuter bus, university nearby. Popular area with locals, tourists and students.

Financial Summary

Actual
Net Operating Income
$130,000

Map of 1084 Boston Neck Road, Narragansett, RI 02882 (Washington County)

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Created 5/16/2006

Additional Information for 1084 Boston Neck Road, Narragansett, RI 02882

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - 1084 Boston Neck Road

1084 Boston Neck Road, Narragansett, RI, 02882