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7 Units North Providence! 1043-1045 Charles St 5 Unit Apartment Building $1,000,000 ($200,000/Unit) 3.80% Cap Rate Providence, RI 02904
INVESTMENT HIGHLIGHTS
- Potential of a 7+ cap.
EXECUTIVE SUMMARY
Well-maintained mixed-use property featuring two street-level retail spaces and five residential apartments in a strong retail corridor. The location offers excellent visibility and consistent foot traffic, ideal for stable commercial tenants. All but one apartment are currently leased, providing reliable income. The rear lot offers flexibility for a potential subdivision and multifamily development or can be retained as additional parking or expansion area. A solid investment opportunity with strong existing cash flow and future upside.
1 Gas Meter. 6 Electrical (Need to connect them to all units and add 2)
Potential of a 7+ cap.
1 Gas Meter. 6 Electrical (Need to connect them to all units and add 2)
Potential of a 7+ cap.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 3.80% | Building Size | 3,652 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1935 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | CV - Commercial | ||
| Price | $1,000,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 3.80% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 3,652 SF |
| No. Stories | 2 |
| Year Built | 1935 |
| Opportunity Zone |
Yes |
| Zoning | CV - Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
1 1
Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | NPRO-000002-000000-000263 | Improvements Assessment | $231,700 |
| Land Assessment | $98,600 | Total Assessment | $330,300 |
PROPERTY TAXES
Parcel Number
NPRO-000002-000000-000263
Land Assessment
$98,600
Improvements Assessment
$231,700
Total Assessment
$330,300
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7 Units North Providence! | 1043-1045 Charles St
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