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Deborah Gold Of Coldwell Banker Represents Buyer In $1.155M Multifamily Sale
SOLD
$1,155,000
Rhode Island
See Similar DealsMultiFamily
Sold 05/10/2024
SOLD
Deborah Gold Of Coldwell Banker Represents Buyer In $1.155M Multifamily Sale
300 Smithfield Road
See Similar DealsMultiFamily
Sold 05/10/2024
Summary
RHODE ISLAND
Asset Type:MultiFamily
Transaction Type:Sale
The seven-unit property known as Country Lane Estates at 300 Smithfield Rd. in North Providence, RI, was recently sold for $1.155 million in a transaction brokered by Michael Alves of Elite Commercial Realty at KW Commercial. Each unit was sold at an average price of $165,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,155,000
- Address: 300 Smithfield Road
- Market: North Providence, RI
- Units: 7
- Buyer's Rep: Deborah Gold - Coldwell Banker
- Seller's Rep: Michael Alves - Keller Williams
- Price Per Unit: $165,000
The sale of Country Lane Estates was successfully facilitated through the expertise of Michael Alves from Elite Commercial Realty at KW Commercial, representing the seller in this significant transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$61,600.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,103.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,475.29
Annual Debt Service$65,703.47
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