Back on market due to sale of buyer's property falling through! Cash flow day 1 at 73 Health, a large 6-unit building with a unit mix of (5) three-bed/one-bath units and (1) two-bed/one-bath units. 8.% cap rate with a 10% cap and 15% cash on cash returns at pro-forma. This building is fully occupied and has a history of high occupancy. Tenants pay all utilities. Total pro-forma income of $120,000 and current income of $97,680. Off-Street parking spaces for tenants. This is a great opportunity to acquire an asset that cash flows day one and still has significant upside in the rent roll. Financials available upon request.
Sold for $720,000 on 11/08/23
$720,000
73 Health Ave, Providence, RI 02908
17beds
4,800sqft
Multi Family
Built in 1900
-- sqft lot
$852,400 Zestimate®
$150/sqft
$2,047 Estimated rent
Home value
$852,400
$784,000 - $938,000
$2,047/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: February 29, 2024 at 03:49pm
Listed by:
John Slyman 508-330-0325,
New England Apartment Group
Bought with:
Henry Woy Lee, REB.0018916
Patriot International Realty
Source: StateWide MLS RI,MLS#: 1337229
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 17
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Natural Gas, Baseboard
Cooling
- None
Appliances
- Included: Gas Water Heater
- Laundry: Common Area, In Building
Features
- Plumbing (PVC)
- Flooring: Hardwood
- Basement: Full,Interior Entry,Unfinished,Laundry,Storage Space,Utility
- Has fireplace: No
Interior area
- Total structure area: 5,820
- Total interior livable area: 4,800 sqft
Property
Parking
- Total spaces: 6
- Parking features: No Garage
Features
- Stories: 3
Lot
- Size: 4,521 sqft
- Features: Corner Lot
Details
- Special conditions: Conventional/Market Value
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Vinyl Siding
- Foundation: Concrete Perimeter
Condition
- New construction: No
- Year built: 1900
Utilities & green energy
- Electric: 100 Amp Service, Circuit Breakers
- Utilities for property: Sewer Connected, Water Connected
Community & neighborhood
Location
- Region: Providence
- Subdivision: Mt. Pleasant
HOA & financial
Other financial information
- Total actual rent: 8195
Price history
| Date | Event | Price |
|---|---|---|
| 11/8/2023 | Sold | $720,000-7.1%$150/sqft |
Source:  StateWide MLS RI #1337229 | ||
| 8/28/2023 | Pending sale | $775,000$161/sqft |
Source: StateWide MLS RI #1337229 | ||
| 8/10/2023 | Listed for sale | $775,000$161/sqft |
Source: StateWide MLS RI #1337229 | ||
| 6/21/2023 | Pending sale | $775,000$161/sqft |
Source: StateWide MLS RI #1337229 | ||
| 6/7/2023 | Listed for sale | $775,000+68.5%$161/sqft |
Source: StateWide MLS RI #1337229 | ||
Public tax history
Tax history is unavailable.
Neighborhood: Valley
Nearby schools
GreatSchools rating
- 6/10George J. West Elementary SchoolGrades: K-5Distance: 0.5 mi
- 5/10Nathanael Greene Middle SchoolGrades: 6-8Distance: 0.7 mi
- 1/10Mount Pleasant High SchoolGrades: 9-12Distance: 1 mi
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$852,400
2% more+ $17,048
With Zillow Showcase(estimated)
$869,448