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58 Fortin Road

NorthEast Private Client Group Sells The URI Townhouses In Kingston, RI For $6.125M
SOLDMultiFamily

NorthEast Private Client Group Sells The URI Townhouses In Kingston, RI For $6.125M

58 Fortin Road

$6,125,000

Building Size

Asset Type

MultiFamily

Closing

Jun 14, 2024

AI

The URI Townhouses, a 12-unit multifamily property located at 58 Fortin Rd in Kingston, RI, were sold for $6.125 million. The deal was facilitated by Richard Welch & Tim McGeary from NorthEast Private Client Group.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,125,000
  • Units: 12
  • Price per Unit: $510,417
  • Address: 58 Fortin Road
  • Market: Kingston, RI
  • Brokers: Richard Welch & Tim McGeary - NorthEast Private Client Group

The Northeast Private Client Group successfully closed the sale of The URI Townhouses, showcasing their expertise in handling multifamily property transactions in the Kingston, RI market.

Players

Tim McGeary

NorthEast Private Client Group

Broker

$67.8M

vol

15 deals

Broker

Kingston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.59%

Cash-on-Cash

-0.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93