Boulder Farms Villas 101 Charlies Way 144 Unit Apartment Building $70,000,000 ($486,111/Unit) 4.51% Cap Rate Johnston, RI 02919
INVESTMENT HIGHLIGHTS
- Turnkey Investment: New construction, steel reinforced insulated concrete, all SOLAR all 2 level 1700 sf, 3bed, 2 bath, single garage; fully occupied
- seller financing up to 50%, at 4% fixed rate, amortized over 25yrs, balloon payment 10 yrs.; 72 center units at $2500/mo.; 72 end units at $2600/mo.
- exceptionally efficient and low maintenance; easy access off Greenville Ave. at exit 10 from I-295; extensive nearby retail, service amenities
FINANCIAL SUMMARY (ACTUAL - 2022) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $70,000,000 |
| Price Per Unit | $486,111 |
| Sale Type | Investment |
| Cap Rate | 4.51% |
| No. Units | 144 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 26.15 AC |
| Building Size | 244,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2020 |
| Zoning | R40 |
AMENITIES
UNIT AMENITIES
- Disposal
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Walk-In Closets
SITE AMENITIES
- 24 Hour Access
- Storage Space
- Public Transportation
- Individual Locking Bedrooms
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2.5 | 144 | $2,550 | 1,700 |
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