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Renovated 9-Unit (CALL TO TOUR) 7.2% Cap 9 Melton St 9 Unit Apartment Building $1,750,000 ($194,444/Unit) 7.19% Cap Rate Pawtucket, RI 02860
Investment Highlights
- 1988 CONSTRUCTION / 2025 RENOVATIONS
- 7 2-BED UNITS & 2 1-BED UNITS (ALL RENOVATED)
- CONVENIENT LOCATION NEXT TO THE HIGHWAY
- NEW ROOF, BOILER & WINDOWS
- 13 PARKING SPACES + ON-SITE LAUNDRY
- TURNKEY ASSET WITH STABILITY & VALUE-ADD UPSIDE
Executive Summary
9 Melton Street is a cash-flowing, nine-unit multifamily property generating $15,440/month ($185,280 annually) in Pawtucket, RI. The unit mix of seven 2-bedroom/1-bath and two 1-bedroom/1-bath apartments is largely renovated — seven of the nine units have been fully updated with new cabinetry, granite countertops, new flooring, new appliances, and new bathroom vanities — and major systems are new, including the roof, windows, and boilers. On-Site Laundry. In-place rents sit below market, offering approximately 11% upside to a $17,100/month ($205,200 annually) market level as leases roll. Priced at $1,750,000 ($194,444 per unit) — a 7.2% in-place cap rate rising to 8.2% at market — the offering combines immediate cash flow with a strong value-add profile. Financials and rent roll available upon request.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,750,000 | Building Class | C |
| Price Per Unit | $194,444 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 9,000 SF |
| Cap Rate | 7.19% | No. Stories | 2 |
| No. Units | 9 | Year Built/Renovated | 1988/2025 |
| Property Type | Multifamily | Parking Ratio | 1.09/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RM | ||
| Price | $1,750,000 |
| Price Per Unit | $194,444 |
| Sale Type | Investment |
| Cap Rate | 7.19% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 9,000 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1988/2025 |
| Parking Ratio | 1.09/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,425 | - |
| 2+1 | 7 | $1,650 | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | PAWT-000052-000000-000873 | Total Assessment | $779,000 |
| Land Assessment | $79,400 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $699,600 | Tax Year | 2025 |
Property Taxes
Parcel Number
PAWT-000052-000000-000873
Land Assessment
$79,400
Improvements Assessment
$699,600
Total Assessment
$779,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Renovated 9-Unit (CALL TO TOUR) 7.2% Cap | 9 Melton St
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