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123 Warren Ave
East Providence, RI 02914
Multifamily Property For Sale
·
7 Units
PROPERTY FACTS
| No. Units | 7 | Building Size | 6,504 SF |
| Property Type | Multifamily | Average Occupancy | 86% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1920/2019 |
| Building Class | C | Parking Ratio | 0.92/1,000 SF |
| Lot Size | 0.23 AC | ||
| Zoning | C | ||
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 6,504 SF |
| Average Occupancy | 86% |
| No. Stories | 3 |
| Year Built/Renovated | 1920/2019 |
| Parking Ratio | 0.92/1,000 SF |
| Zoning | C |
ABOUT 123 WARREN AVE , EAST PROVIDENCE, RI 02914
Just under a 7% Cap Rate, More than $94,000 in annual gross rents, and cash flow after mortgage estimated at nearly $14,000! (See attached profit and loss for more details). Seven total units on one lot. One remodeled Single Family home and 2 3-Family homes comprise the 7 units. 123 Warren is the single family with 4 bedrooms, a living room with a fireplace, dining room, 2 full baths newly remodeled, new mechanicals and new windows with approximately 2000 sq ft of living space. It is currently vacant with estimated market rent of $2000. 117 Warren is a 3-family with 2 bedrooms in each apartment with long term tenants and potential value-add with plenty of upside on rents. 6-8 Sixth St is the other 3-family with all 2 bedroom apartments, double parlor, balconies, beautiful hardwood floors, newer mechanicals and a new roof. This turnkey property is already hardwired with smokes/COs, with 6 off-street parking spots in a convenient commuter location with easy access to Rte 195, 95 and downtown Providence. Bike over the bridge to the east side! Many apartments have been upgraded and are in excellent condition. 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 1244414 (60 East Transit 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
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+2 | 1 | $2,000 | 1,600 |
| 2+1 | 6 | $912.50 | 750 - 1,100 |
PROPERTY TAXES
| Parcel Number | EPRO-000106-000025-000010 | Improvements Assessment | $1,093,700 |
| Land Assessment | $112,000 | Total Assessment | $1,205,700 |
PROPERTY TAXES
