Marcus & Millichap Brokers $1.4M Sale Of Multifamily Property In East Providence, RI
SOLD
$1,400,000
Rhode Island
See Similar DealsMultiFamily15,496 SF
Sold 07/16/2020
SOLD
Marcus & Millichap Brokers $1.4M Sale Of Multifamily Property In East Providence, RI
280 Roger Williams Ave, Rumford, RI 02916, USA
See Similar DealsMultiFamily15,496 SF
Sold 07/16/2020
Summary
RHODE ISLAND
Asset Type:MultiFamily
Price Per Square Foot:$90
Total Square Footage:15,496 SF
Transaction Type:Sale
The multifamily property located at 280 Roger Williams Avenue in East Providence, RI has been sold. The transaction was facilitated by Matthew Pierce and Harry Verenis from Marcus & Millichap. The sale took place on July 16, 2020, for a total price of $1,400,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Square Footage: 15,496
- Price Per Square Foot: $90.35
- Address: 280 Roger Williams Avenue
- Market: East Providence, RI
This successful sale showcases the expertise of Matthew Pierce and Harry Verenis from Marcus & Millichap. Their professional representation and negotiation skills enabled the smooth closing of this multifamily property transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,973.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.71
Annual Debt Service$79,640.57
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