For Sale

Listed by John Slyman

Source: State Wide MLS of Rhode Island, Inc. #1416377

9 Melton St, Pawtucket, RI, 02860

$1,750,000

16
9
13
8226 sq. ft.
8817 sq. ft.

MultiFam

•

10 days on the market

What's around 9 Melton St

About this property

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. 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.

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