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$7,500,000
Est. payment /mo
82 Beds
45 Baths
39,612 SqFt
UPDATED:
12/02/2024 10:05 PM
Key Details
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Pending
Purchase Type For Sale
Square Footage 39,612 sqft
Price per Sqft $189
MLS Listing ID 73302196
Bedrooms 82
Full Baths 45
Year Built 1960
Annual Tax Amount $54,196
Tax Year 2024
Lot Size 2.680 Acres
Acres 2.68
Property Description
The Oakland & Lake Estates multi-family investment portfolio is located at 35 & 50 Lake Street and 20 Oakland Beach Avenue in Warwick, RI. The Portfolio is a well maintained, stabilized asset in a growing, high demand real estate market that offers additional upside. The Portfolio is comprised of four multi-family buildings and contains forty-five residential units: two Studio units, four 1-Bed/1-Bath units, and thirty-nine 2-Bed/1-Bath units. Within the past three years, 31 units have been renovated, exteriors and interiors of the properties have been painted, hallway carpets have been replaced, and new high efficiency gas heating systems have been installed. The opportunity exists to drive rental rates through programmatic upgrades and renovations to the kitchens and bathrooms in the unrenovated units, allowing the incoming owner to maximize rents in a supply constrained market.
Location
State RI
County Kent
Zoning Comm Apts
Direction Please use GPS
Exterior
Community Features Public Transportation, Shopping, Park, Medical Facility, Highway Access, Private School, Public School, T-Station, University
Waterfront Description Beach Front,1/2 to 1 Mile To Beach
Roof Type Shingle,Rubber
Total Parking Spaces 80
Garage No
Building
Lot Description Other
Story 3
Foundation Other
Sewer Public Sewer
Water Public
Others
Senior Community false
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Listed by Horvath & Tremblay
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