77 Appleton Ave
- Six One-Bedroom Apartments | 1920 Construction
- Gas-Fired Hot Water Heat
- Off-Street Parking On A 5,129 SF Lot
- 14 Minutes To Downtown Providence
- Grocery And Commuter Rail Within A Mile
- Hospitals And Brown University Within Six Miles
Property Description
Northeast Private Client Group is pleased to present 77-79 Appleton Avenue, a six-unit multifamily property in Pawtucket, Rhode Island, about 14 minutes by car from downtown Providence. The building is a two-story 1920 structure with six one-bedroom apartments of 500 square feet each. Heat is gas-fired hot water, and the owner pays heat and water/sewer. Approximately 3,000 square feet of paved asphalt parking sits on the 5,129 square foot lot, zoned RM (multifamily residential). In-place rents average about $1,156 a month against a $1,500 pro forma rent for each unit, a combined $24,780 a year below market. At pro forma rents, net operating income moves from $49,630 today to $71,994. Stop & Shop on Cottage Street is under half a mile from the property, and Boulevard Plaza on Armistice Boulevard is about a mile south. Slater Mill, Slater Memorial Park and Tidewater Landing, home of Rhode Island FC, all sit within a mile and a half. Two commuter rail stops serve the area: South Attleboro and Pawtucket/Central Falls. Providence's hospital and university cluster, including The Miriam Hospital and Brown University, is four to six miles south. Worcester is under an hour by car and Boston about an hour. All qualified parties are invited to request the full offering package.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $825,000 |
| No. of Units: | 6 |
| Year Built: | 1920 |
| Lot Size: | 0.12 Acres |
| Opportunity Zone: | No |
| Price per unit: | $137,500 |
| Property Website | Click Here |
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Remax Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout