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Key Details
Sold Price $720,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,820 sqft
Price per Sqft $123
Subdivision Mt. Pleasant
MLS Listing ID 1337229
Sold Date 11/08/23
Bedrooms 17
Full Baths 4
HOA Y/N No
Abv Grd Liv Area 5,820
Year Built 1900
Annual Tax Amount $20,123
Tax Year 2022
Lot Size 4,521 Sqft
Acres 0.1038
Property Description
Back on market due to sale of buyer's property falling through! Cash flow day 1 at 73 Health, a large 6-unit building with a unit mix of (5) three-bed/one-bath units and (1) two-bed/one-bath units. 8.% cap rate with a 10% cap and 15% cash on cash returns at pro-forma. This building is fully occupied and has a history of high occupancy. Tenants pay all utilities. Total pro-forma income of $120,000 and current income of $97,680. Off-Street parking spaces for tenants. This is a great opportunity to acquire an asset that cash flows day one and still has significant upside in the rent roll. Financials available upon request.
Location
State RI
County Providence
Community Mt. Pleasant
Rooms
Basement Full, Interior Entry, Unfinished
Interior
Heating Baseboard, Gas
Cooling None
Flooring Hardwood
Fireplace No
Appliance Gas Water Heater
Laundry Common Area
Exterior
Utilities Available Sewer Connected
Total Parking Spaces 6
Garage No
Building
Lot Description Corner Lot
Foundation Concrete Perimeter
Sewer Connected
Water Connected
Structure Type Vinyl Siding
New Construction No
Others
Senior Community No
Tax ID 73HEALTHAVPROV
Financing Conventional
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Bought with Patriot International Realty