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NorthEast Private Client Group Sells The URI Townhouses In Kingston, RI For $6.125M
SOLD
$6,125,000
Rhode Island
See Similar DealsMultiFamily
Sold 06/14/2024
SOLD
NorthEast Private Client Group Sells The URI Townhouses In Kingston, RI For $6.125M
58 Fortin Road
See Similar DealsMultiFamily
Sold 06/14/2024
Summary
RHODE ISLAND
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$326,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,760.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,035.62
Annual Debt Service$348,427.50
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