48 Chester St - Apartments FOR SALE


Woonsocket, RI 02895
$1,250,000 USD
401-556-3665
48 Chester St, Woonsocket, RI for Sale
$1,250,000 USD
Apartments - FOR SALE
1/19
null | 8.3% Cap Rate

48 Chester St
Woonsocket, RI 02895


HIGHLIGHTS

  • $143k gross annual income
  • (1) 4-bed/2-bath
  • (1) 3-bed/2-bath
  • (4) 3-bed/1-bath
  • Appraisal in hand for $1.25M
  • Tenant Paid Utilities

OVERVIEW

48 Chester is a high-performing six-unit asset generating a strong $11,925/month ($143K annually), consisting of (1) 4-bed/2-bath, (1) 3-bed/2-bath, and (4) 3-bed/1-bath units. Each unit has its own washer & dryer, balcony, and spacious living area. With separate electric and gas meters (paid by tenants) and trash removal covered by the city, this is a low-expense property. The asset consists of two 3-unit buildings on one parcel, both having undergone extensive upgrades, including new roofs, siding, electrical, kitchens, bathrooms, flooring, and appliances. Offering a blend of turnkey and value-add potential, this property provides immediate & significant positive cash flow with no work required, while still allowing for additional renovations to increase revenue even further. Large, clean basements offer potential storage income, and there's upside potential for condo conversions. An appraisal valued the property at $1.25M, which we have in hand. The property includes 7 parking spaces and is fully fire-coded. Financials available upon request.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$130 USD /SF

# OF UNITS

6

PRICE/UNIT

$208,333

CAP RATE

8.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

R4

APN/PARCEL ID

WOON-000021D-000165-000041

ASK ABOUT THIS PROPERTY

Josh MorrisNew England Apartment Group, LLCMore Info
401-556-3665

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Josh MorrisNew England Apartment Group, LLCMore Info
401-556-3665

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.