9 Melton ST, Pawtucket, RI 02860
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9 Melton ST, Pawtucket, RI 02860
9 Melton ST, Pawtucket, RI 02860
9 Melton ST, Pawtucket, RI 02860
9 Melton ST, Pawtucket, RI 02860
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Caitlin Pannone

Caitlin Pannone

+1(401) 258-3331
$ 1,750,000
Est. payment /mo
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Active

9 Melton ST Pawtucket, RI 02860

8,226 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 8,226 sqft

Price per Sqft $212

MLS Listing ID 1416381

HOA Y/N No

Abv Grd Liv Area 8,226

Year Built 1988

Annual Tax Amount $17,924

Tax Year 2025

Lot Size 8,816 Sqft

Acres 0.2024

Property Sub-Type Commercial

Property Description

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.

Location

State RI

County Providence

Rooms

Basement None

Interior

Heating Baseboard

Cooling Wall Unit(s)

Inclusions No warranty or representation, expressed or implied, is made by the Owner or Broker or any related entity as to the accuracy or completeness of the information contained herein, including but not limited to financial information or projections or any information related to the physical buildings or land. Prospective purchasers should make their own investigations, projections, and conclusions. It is expected that prospective purchasers will conduct their own independent due diligence concerning the offering.

Laundry Common Area

Exterior

Community Features Golf, Highway Access, Marina, Near Hospital, Near Schools, Other, Pool, Public Transportation, Recreation Area, Restaurant, Shopping, See Remarks, Tennis Court(s)

Street Surface Concrete

Total Parking Spaces 13

Building

Sewer Public Sewer

Water Public

Structure Type Frame

New Construction No

Others

Tax ID 9MELTONSTPAWT

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Listed by New England Apartment Group

Caitlin Pannone

Caitlin Pannone

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+1(401) 258-3331

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9 Melton ST