9 Melton St - Apartments FOR SALE


Pawtucket, RI 02860- Woodlawn
$1,750,000 USD
508-330-0325
9 Melton St, Pawtucket, RI for Sale
$1,750,000 USD
Apartments - FOR SALE
1/19
null | 7.19% Cap Rate

9 Melton St
Pawtucket, RI 02860
Woodlawn


HIGHLIGHTS

  • 1988 CONSTRUCTION / 2025 RENOVATIONS
  • NEW ROOF, BOILER & WINDOWS
  • 7 2-BED UNITS & 2 1-BED UNITS (ALL RENOVATED)
  • 13 PARKING SPACES + ON-SITE LAUNDRY
  • CONVENIENT LOCATION NEXT TO THE HIGHWAY
  • TURNKEY ASSET WITH STABILITY & VALUE-ADD UPSIDE

OVERVIEW

9 Melton Street is a cash-flowing, nine-unit multifamily property generating $15,440/month ($185,280 annually) in Pawtucket, RI. The unit mix of seven 2-bedroom/1-bath and two 1-bedroom/1-bath apartments is largely renovated — seven of the nine units have been fully updated with new cabinetry, granite countertops, new flooring, new appliances, and new bathroom vanities — and major systems are new, including the roof, windows, and boilers. On-Site Laundry. In-place rents sit below market, offering approximately 11% upside to a $17,100/month ($205,200 annually) market level as leases roll. Priced at $1,750,000 ($194,444 per unit) — a 7.2% in-place cap rate rising to 8.2% at market — the offering combines immediate cash flow with a strong value-add profile. Financials and rent roll available upon request.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$194 USD /SF

# OF UNITS

9

PRICE/UNIT

$194,444

CAP RATE

7.19%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Renovated 9-Unit (CALL TO TOUR) 7.2% Cap

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

RM

APN/PARCEL ID

PAWT-000052-000000-000873

ASK ABOUT THIS PROPERTY

John SlymanNew England Apartment Group, LLCMore Info
508-330-0325

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John SlymanNew England Apartment Group, LLCMore Info
508-330-0325

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.