Skip To Content

543 Laurel Hill Avenue

Cranston, RI 02920
  • $700,000
  • STATUS: Pending
  • ON SITE: 13 Days
  • MLS #: 1363017
Pending
UPDATED: 42 min ago
$700,000
  • 0
    BEDS
  • 0.23
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1920
County:
Area:

School Ratings & Info

Description

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

Monthly Payment Calculator



[Rhode Island Statewide MLS] logo

© 2024 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than Onshore Realtors are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Onshore Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2024-07-17T08:37:48.343.
www.onshorerealtors.com/homes/152295428
Print Image

543 Laurel Hill Avenue Cranston, RI 02920

  • Price: $700,000
  • Status: Pending
  • On Site: 13 Days
  • Updated: 42 min ago
  • MLS #: 1363017
0
Beds
0
Baths
0
½ Baths
0.23
Acres
1920
Built
County:
Providence
Area:
Cranston
Property Description
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
Exterior Features

Lot Features Corner Lot Parking Total 10

Interior Features

Basement Full Basement YN Yes Cooling None Cooling YN No Heating Baseboard Gas Heating YN Yes

Property Features

Community Features Golf Highway Access Marina Near Hospital Near Schools Other Public Transportation Recreation Area Restaurant Shopping See Remarks Tennis Courts Sidewalks Electric Item200 Amp Service Gross Income 84600 Human Modified YN Yes Inclusions No warranty or representationexpressed or impliedis made by the Owner or Broker or any related entity as to the accuracy or completeness of the information contained hereinincluding but not limited to financial information or projections or any information related to the physical buildings or land. Prospective purchasers should make their own investigationsprojectionsand conclusions. It is expected that prospective purchasers will conduct their own independent due diligence concerning the o Land Lease YN No New Construction YN No Owner Pays Electricity Gas Heat Hot Water Insurance Sewer Taxes Water Property Sub Type Commercial Road Surface Type Concrete Sewer Connected Public Sewer Structure Type Apartment Multi Family Tax Annual Amount 8399 Tax Assessed Value 600300 Tax Lot 945 Tax Year 2023 Utilities Natural Gas Connected Sewer Connected Water Source Connected Public

[Rhode Island Statewide MLS] logo Listing information © 2024 State-Wide Multiple Listing Service.
Listing provided courtesy of New England Apartment Group: .



[Rhode Island Statewide MLS] logo

© 2024 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than Onshore Realtors are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Onshore Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2024-07-17T08:37:48.343.
 
https://bt-photos.global.ssl.fastly.net/rhodeisland/orig_boomver_1_1363017-2.jpg https://bt-photos.global.ssl.fastly.net/rhodeisland/orig_boomver_1_1363017-2.jpg https://bt-photos.global.ssl.fastly.net/rhodeisland/orig_boomver_1_1363017-2.jpg
Logo
Onshore Realtors
57 Shore Rd, Suite B
Westerly RI, 02891