9 Melton Street Pawtucket, RI 02860
Apartment
MLS #: 1416381
Courtesy Of New England Apartment Group
Property InformationDescription
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.
Features
- Age: 31-40 Years Old
- Building Units: 4
- Cooling System: Wall Unit(s)
- Exterior Type: Frame
- Heating System: Baseboard
- MLSID: 1416381
- Parking Spaces: 13
MAP & DIRECTIONS
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