Scenic Apartments

  • Title

    Multifamily Property

  • City

    Tiverton, RI

  • Price

    $1,000,000

  • Cap Rate

    5.3%

  • Gross Leasable Area

    13,376 SF

  • No. Units

    15

  • Price/SF

    $74.76

  • Price/Unit

    $66,667

  • No. Stories

    2

  • Property Type

    Multifamily

  • Lot Size

    2.15 AC

Not found amenities.

Northeast Private Client Group is pleased to present the Scenic Apartments, a 15-unit multifamily complex located in Tiverton, Rhode Island.

The Scenic Apartments are comprised of a newly renovated single family home, a three family home, and an 11-unit apartment building. The single family house is a 3 bedroom / 1.5 bath, all other units are 2 bedroom / 1 bathroom except for one unit in the 3-family which is a 1 bedroom / 1 bathroom. Three units in the basement of the 11-unit apartment building currently sit vacant and would need complete gut renovations. One unit in the three family home is vacant and in need of a gut rehab. These renovations would require permits from the town. Both the three-family and 11-unit building are in need of new septic systems. The Scenic apartments sit on 2.15 acres of land and boast ample off-street parking and tenant paid electric.

The Scenic apartments provide an investor the unique opportunity to purchase a multifamily complex with significant upside through gut renovation of 4 units and exterior work to the building. Rents are below market and single family home could be sold off separately almost immediately upon purchase.

All interested and qualified parties will have the opportunity to walk through the properties and obtain additional information upon request.