$1,750,000
9 Melton Street
Pawtucket, RI 02860
About This Home
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.
Property Details
Location
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The data relating to real estate for sale on this website comes from the Internet Data Exchange (IDX) program of the State-Wide Multiple Listing Service. Real estate listings held by brokerage firms other than FAB Living Realty are marked with the MLS logo and detailed information about them includes the name of the listing broker.
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MLS # 1416377