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669 Elmwood Ave 14 Unit Apartment Building $3,950,000 ($282,143/Unit) 8.92% Cap Rate Providence, RI 02907
Investment Highlights
- Mixed, residential lofts, office/studio, warehouse
Executive Summary
669 Elmwood Avenue, 68,561 square foot parcel improved with a circa 1900, two and three level masonry and timber mill. Currently divided into 14 residential lofts, 43,850 SF / 3 industrial/warehouse spaces 11,400 SF and 12 office/studios 8,330 SF currently netting $323,900. Lofts are over-sized can easily be subdivided.
643 Elmwood Avenue, 19,526 square foot lot zoned C-2, development potential for 30 residential units.
643 Elmwood Avenue, 19,526 square foot lot zoned C-2, development potential for 30 residential units.
Property Facts
| Price | $3,950,000 | Building Class | C |
| Price Per Unit | $282,143 | Lot Size | 2.02 AC |
| Sale Type | Investment | Building Size | 63,580 SF |
| Cap Rate | 8.92% | No. Stories | 3 |
| No. Units | 14 | Year Built | 1900 |
| Property Type | Multifamily | Parking Ratio | 0.36/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | M1 - Industrial Zoned | ||
| Price | $3,950,000 |
| Price Per Unit | $282,143 |
| Sale Type | Investment |
| Cap Rate | 8.92% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.02 AC |
| Building Size | 63,580 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Parking Ratio | 0.36/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | M1 - Industrial Zoned |
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Walk Score®
Very Walkable (72)
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,189,500 | |
| Land Assessment | $1,066,300 | Total Assessment | $2,255,800 |
Property Taxes
Parcel Numbers
Land Assessment
$1,066,300
Improvements Assessment
$1,189,500
Total Assessment
$2,255,800
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669 Elmwood Ave
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