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669 Elmwood Ave 14 Unit Apartment Building $3,750,000 ($267,857/Unit) 10.10% Cap Rate Providence, RI 02907
Executive Summary
Circa 1900 Mill type property, subdivided into 14 very large residential lofts (43,850 SF) that could be subdivided, 12 office/studio spaces (8,330 SF ),that could also be converted to residential and 3 warehouse use spaces (11,400 SF ). In addition there is a separate 19,526 SF lot zoned C-@ that could be developed with an additional 30 residential units. This property is fully occupied. With additional investment the property has the potential to significantly increase NOI. Great oppourtunity to get in on the nations #1 rental market !
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | - |
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
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