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54 Barton St - 54+ 56 Barton Street 6 Unit Apartment Building Offered at $1,590,000 at a 8.04% Cap Rate Providence, RI 02909
Investment Highlights
- 8% Cap on In-Place Income
- Plenty of Parking
- Great location in Federal Hill/West End
- Turn-key units
Executive Summary
Presenting 54-56 Barton Street, two well-maintained legal three-family structures in the Federal Hill / West End neighborhood of Providence. This turnkey asset consists of two separate structures, 3-story buildings with 3 units each. The property includes two 3-bedroom/1-bathroom units, three 2-bedroom/1-bathroom units, and one 1-bedroom/1-bathroom unit. Each unit features separate heating and mechanicals, replacement windows, and efficient layouts. The property delivers an attractive 8%+ cap rate with solid rental income and low operating headaches. Off-street parking available for all 6 units and washer/dryer in the basements. The two structures are on separate parcels and can be financed separately with residential mortgages, but must be purchased together. Call for more details and/or to schedule a showing!
Property Facts
| Price | $1,590,000 | Building Size | 5,021 SF |
| Price Per Unit | $265,000 | Average Occupancy | 100% |
| Sale Type | Investment | No. Stories | 3 |
| Cap Rate | 8.04% | Year Built | 1930 |
| No. Units | 6 | Parking Ratio | 1.79/1,000 SF |
| Property Type | Multifamily |
| Price | $1,590,000 |
| Price Per Unit | $265,000 |
| Sale Type | Investment |
| Cap Rate | 8.04% |
| No. Units | 6 |
| Property Type | Multifamily |
| Building Size | 5,021 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1930 |
| Parking Ratio | 1.79/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 3 | - | - |
| 3+1 | 2 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
60/100
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54 Barton St - 54+ 56 Barton Street