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6 Armistice Boulevard

Pawtucket, RI 02860
  • $650,000
  • STATUS: Active
  • ON SITE: 34 Days
  • MLS #: 1323403
$650,000
  • 0
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1920
County:
Area:

School Ratings & Info

Description

True 7% Cap Rate at current below market rents! This massive 5,100 sq ft 6-family home in the heart of Quality Hill is the perfect mix of turnkey with value add. Current gross annual rents of $71,400 produces an NOI of nearly $45,000 per year at current rents. With some improvements to two of the apartments along with rent increases estimated pro-forma gross annual rents can exceed $80,000. There are three 2-bedroom apartments and three 1-bedroom apartments. Additional potential for value add with a 7th unit in basement would require city approval (already outfitted with a bathroom and some semi-finished areas. On-street parking only, 5 of the 6 units have electric baseboard heat (other is forced water gas boiler). Tenants pay all their own utilities (electric and gas). Coin operated washer dryer, durable aluminum siding, newer roof make this your ideal investment with great returns on day one. This property is fully fire-coded with hardwired smokes/COs and a local fire alarm system.

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© 2022 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than Barrows Team Realty | Keller Williams Realty Leading Edge are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Barrows Team Realty | Keller Williams Realty Leading Edge. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-12-06T23:37:48.493.
www.barrowsteamrealty.com/homes/134477285
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6 Armistice Boulevard Pawtucket, RI 02860

  • Price: $650,000
  • Status: Active
  • On Site: 34 Days
  • MLS #: 1323403
0
Beds
0
Baths
0
½ Baths
0.11
Acres
1920
Built
County:
Providence
Area:
Pawtucket
Property Description
True 7% Cap Rate at current below market rents! This massive 5,100 sq ft 6-family home in the heart of Quality Hill is the perfect mix of turnkey with value add. Current gross annual rents of $71,400 produces an NOI of nearly $45,000 per year at current rents. With some improvements to two of the apartments along with rent increases estimated pro-forma gross annual rents can exceed $80,000. There are three 2-bedroom apartments and three 1-bedroom apartments. Additional potential for value add with a 7th unit in basement would require city approval (already outfitted with a bathroom and some semi-finished areas. On-street parking only, 5 of the 6 units have electric baseboard heat (other is forced water gas boiler). Tenants pay all their own utilities (electric and gas). Coin operated washer dryer, durable aluminum siding, newer roof make this your ideal investment with great returns on day one. This property is fully fire-coded with hardwired smokes/COs and a local fire alarm system.
Exterior Features

Foundation Details Combination Levels Three Or More Parking Total 0

Interior Features

Heating BaseboardHot WaterOther

Property Features

Business Type Real Estate Electric Circuit Breakers Land Lease YN No Laundry Features Common AreaLaundry Room Possible Use Residential Property Sub Type Commercial Road Surface Type Asphalt Sewer ConnectedSanitary Tax Annual Amount 10700 Tax Assessed Value 369100 Tax Lot 0172 Tax Year 2022 Tenant Pays ElectricityGas Utilities Electricity AvailableNatural Gas AvailableNatural Gas ConnectedMunicipal UtilitiesWater ConnectedSewer Connected Water Source ConnectedPublic

Listing information © 2022 State-Wide Multiple Listing Service.
Listing provided courtesy of Premier Properties Ri: [IDXCONTACTINFORMATION].





© 2022 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than Barrows Team Realty | Keller Williams Realty Leading Edge are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Barrows Team Realty | Keller Williams Realty Leading Edge. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-12-06T23:37:48.493.
 
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Barrows Team Realty | Keller Williams Realty Leading Edge
14 Breakneck Hill Road, Suite 101
Lincoln RI, 02865