$700,000 $3,758 est/mo Sourced by Back At You

543 Laurel Hill Avenue,Cranston, RI 02920

Cranston RI, 02920

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Description

Gorgeous 5-unit investment property in mint condition located in a desirable single-family neighborhood in Cranston on a corner lot. The building features a strong unit mix, including a spacious 3-bed/1-bath unit, a 2-bed/1-bath unit, and three 1-bed/1-bath units. Several of the units have received interior upgrades over the years. All units are clean, in mint condition, and have excellent tenants! The property boasts a 7.7% cap rate with a 10% cap and 16% cash-on-cash returns at pro-forma. Total pro-forma annual income is $102,000, with a current annual income of $84,600. There are off-street parking spaces for tenants, a wrap-around porch, a covered patio, ample off-street parking, and 2 garages. This is a great opportunity to acquire an asset that cash flows from day one and still has significant value to add plus upside in the rent roll. Financials are available upon request. Also listed #1362913

Details

MLS#1363017
Listing TypeFor Sale
StyleCommercial
Sub-TypeResale
StatusPending
Year1920
Days On Site16
Listing Provided ByNew England Apartment Group | John Slyman
Buying Commision1%

Features

BasementY
PoolYes
Story(s)3
Units4
Building(s)1
Acreage0.23
Golf CourseYes

Market Activity 02920

The information is being provided by Rhode Island Association of REALTORS®. Information deemed accurate but not guaranteed. Information is provided for consumers personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2024 Rhode Island Association of REALTORS®. All Rights Reserved.

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Learn More About This Property

StateRI
CountyProvidence
CityCranston
Zip Code02920
AreaProvidence
Listing VS Median (in 02920)
Price:
$700,000
low | high
Med:
$429,500
88.642857142857% of Average
On Site:
16
low | high
Med:
38.000000
42.105263157895% of Average
Sourced by Back At You
Listing Updated: July 15, 2024 at 2:06:37 PM PDT