New Listing - 07/03/2024
543 Laurel Hill Avenue, Cranston, RI, 02920
1920
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. Reach out to schedule a private tour on Saturday, 7/6, in the afternoon.
Status:
Active
Type:
Commercial
Units:
4
Heating:
Baseboard, Gas
Cooling:
None
Basement:
Full
Parking:
10-car
Acreage:
0.23
Est. Taxes:
$8,399
Assessment
$600,300
Utilities
Natural Gas Connected,Sewer Connected
Lot Description:
Corner Lot
Amenities:
Golf, Highway Access, Marina, Near Hospital, Near Schools, Other, Public Transportation, Recreation Area, Restaurant, Shopping, See Remarks, Tennis Court(s), Sidewalks
MLS #:
1363017
Community Info
School Info
Walk Score
Mass Transit
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Listing courtesy of New England Apartment Group Phone: 508-330-0325