715 Cottage Street Pawtucket

The Property

715 Cottage Street is a cash-flowing, six-unit multifamily property built in 1988 that is generating $11,025/month ($132,300 annually) in Pawtucket, RI. The unit mix of one large 1-bedroom and five very large 2-bedroom units is largely updated — four of the six units have been renovated, with new kitchens featuring granite countertops, cabinetry, and stainless steel appliances. In-place rents range from $1,750 to $1,950 per month, and even the unrenovated units are producing strong income. Building improvements include five new hot water tanks and roughly 90% of windows replaced, and because tenants pay their own utilities, the Property runs on low operating expenses.

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