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$ 750,000
Est. payment | /mo
4,791 Sqft Lot
$ 750,000
Est. payment | /mo
4,791 Sqft Lot
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 73285312
HOA Y/N false
Year Built 1900
Annual Tax Amount $5,620
Tax Year 2024
Lot Size 4,791 Sqft
Acres 0.11
Property Description
This property is a prime investment opportunity with a strong 10.5% cap rate, ideal for investors seeking high returns. It features six units on a single lot, including five well-maintained residential units with two bedrooms each, updated bathrooms, refinished flooring, and efficient Navien heating systems. All units are rented month-to-month, providing flexibility to adjust rents and maximize returns. Rents include heat and hot water, ensuring high occupancy due to strong demand, particularly given the property's proximity to the Pawtucket/Central Falls Station. A fully operational bar generates over $56K in net income annually and comes equipped with all licenses, inventory, furnishings, and a robust security system. This business has proven income potential with room for growth. The property also offers potential for expansion at the back for additional parking, further enhancing its value. With easy access to downtown, I-95, and major transport links to Providence and Boston.
Location
State RI
County Providence
Zoning M-1
Direction Dexter to cross
Exterior
Utilities Available Public Water, Public Sewer, 110 Volts
Roof Type Shingle
Others
Senior Community false
Listed by Coldwell Banker Realty
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Mike And Lee Mita
Broker-Associate | Lic# REB.0016449