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 #1362913
- Property TypeCommercial
- NeighborhoodN/A
- CountyProvidence
- Taxes$8,399
- HOA/Condo/Coop Fees$0
- Days on Site34 Days
- MLS StatusPending
- MLS ID Number1363017
- Home Size Source N/A
- Year Built1920
- Lot Size0.23 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Spaces 10
- Sewer Public Sewer
- Electric 200+ Amp Service
- Basement Full
- Number of Stories 3
- Acreage 0.23
- Water Public
- Utilities Natural Gas ConnectedSewer Connected
Interior Features
- Cooling None
- Heating BaseboardGas
Exterior Features
- Lot Corner Lot
Community Features
- Community Features GolfHighway AccessMarinaNear HospitalNear SchoolsOtherPublic TransportationRecreation AreaRestaurantShoppingSee RemarksTennis CourtsSidewalks