543 Laurel Hill Avenue Cranston, RI 02920
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. Also listed #1363017
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyProvidence
- Taxes$8,399
- HOA/Condo/Coop Fees$0
- Days on Site34 Days
- MLS StatusPending
- MLS ID Number1362913
- Home Size Source Public Records
- Year Built1920
- Lot Size0.23 Acres
- Full Baths5
- Partial BathsN/A
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General Features
- Construction Vinyl Siding
- Parking DetachedGarage
- Parking Spaces 10
- Sewer Public Sewer
- Electric 200+ Amp Service
- Basement Exterior EntryFullFinishedInterior Entry
- Number of Stories 3
- Acreage 0.23
- Water Public
- Property Sub Type Multi Family
- Garage Spaces 3
- Attached Garage No
- Utilities Sewer Connected
Interior Features
- Cooling None
- Heating BaseboardGasSteam
- Appliances Gas Water Heater
- Flooring Ceramic TileHardwoodVinyl
- Fireplaces 2
- Fireplace Yes
Exterior Features
- Exterior PorchPatio
- Lot Corner Lot
- Patio And Porch PatioPorch
Community Features
- Community Features GolfHighway AccessMarinaNear HospitalNear SchoolsOtherPublic TransportationRecreation AreaRestaurantShoppingSee RemarksTennis Courts
- Senior Community No