9 Melton Street,Pawtucket, RI 02860
Pawtucket, RI 02860
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.
Details
| MLS # | 1416381 |
|---|---|
| Listing Type | For Sale |
| Style | Apartment |
| Sub-Type | Resale |
| Status | Active |
| Year | 1988 |
| Days On Site | 107 |
| Listing Provided By | New England Apartment Group | John Slyman |
Features
| SQ Feet | 8,226 |
|---|---|
| Units | 4 |
| Building(s) | 1 |
| Acreage | 0.20 |
| Golf Course | Yes |
Interior
| Heating | Baseboard |
|---|---|
| Heating Yes / No | Yes |
| Cooling | Wall Unit(s) |
| Cooling Yes / No | Yes |
| Laundry Features | Common Area |
Exterior
| Lot Features | Downtown |
|---|---|
| Community Features | Bus, Commuter Bus, Golf, Highway Access, Hospital, Interstate, Marina, Private School, Public School, Railroad, Recreational Facilities, Restaurants, Schools, Shopping, Near Swimming, Tennis |
| Construction Materials | Frame |
Utilities
| Sewer | Public |
|---|---|
| Electric | 100 Amp Service, Individual Meter |
Location
| Community Features | Bus, Commuter Bus, Golf, Highway Access, Hospital, Interstate, Marina, Private School, Public School, Railroad, Recreational Facilities, Restaurants, Schools, Shopping, Near Swimming, Tennis |
|---|
Taxes
| Tax Annual Amount | 17924 |
|---|---|
| Tax Assessed Value | 779000 |
| Tax Block | 00 |
| Tax Lot | 00 |
| Tax Year | 2025 |
Area Information
| State | RI |
|---|---|
| County | Providence |
| City | Pawtucket |
| Zip Code | 02860 |
| Area | Providence |
| Listing VS Median (in 02860) | |
Price: $1,750,000 low | high Med: $439,999 sqft: 8,226 low | high Med: 3,000 $ / sqft: $213 low | high Med: $147 On site: 107 low | high Med: 67 | |
Market Activity 02860
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Learn More About This Property
| State | RI |
|---|---|
| County | Providence |
| City | Pawtucket |
| Zip Code | 02860 |
| Area | Providence |
| Listing VS Median (in 02860) | |
Price: $1,750,000 low | high Med: $439,999 sqft: 8,226 low | high Med: 3,000 $ / sqft: $213 low | high Med: $147 On site: 107 low | high Med: 67 | |