Nine-Unit Brick Apartment
For Sale
$2,150,000
10 Saratoga Ave, Pawtucket, RI 02861
Two-building multifamily asset with renovated townhouse-style residences and central air throughout.
Property Size8,578 SF
Price / SF$250.64
Days on Market80
Property Features for 10 Saratoga Ave
General Information
Standard status
Active
Size
8,578 SF
Financials
Asking Price
$2,150,000
Cap Rate
7%
Gross Income
$218,820
Units
Unit Mix
3 x 2BR/1.5BA, 6 x 2BR/1BA
Multifamily Units
9
Building Details
Year Built
1988
Buildings
2
Construction
brick
Listing Agency:
New England Apartment Group
Listed By:
John Slyman · License #REB.0018441
(508) 330-0325
Source:
Alpernandmesenbourg
Added: Jul 26
Changed: Oct 6
Last Checked: Oct 12 at 10:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of New England Apartment Group
Investment Insights
Based on property information with market context.
This Pawtucket, RI multifamily property comprises two brick apartment buildings totaling 8,578 square feet and nine units. The unit mix is entirely two-bedroom apartments, including three renovated townhouse-style residences with one and a half baths and six two-bedroom, one-bath units. Renovated interiors feature granite counters, stainless steel appliances with dishwashers, updated cabinetry, bathroom vanities, and new flooring. Central air conditioning serves every unit.
Residents pay their own heat, hot water, and electricity, while the property includes a new roof, replacement windows across half of the buildings, and on-site parking with a large rear lot. The asset carries a 7.0% in-place cap rate, with market projections of 7.5%.
Residents pay their own heat, hot water, and electricity, while the property includes a new roof, replacement windows across half of the buildings, and on-site parking with a large rear lot. The asset carries a 7.0% in-place cap rate, with market projections of 7.5%.
Key Highlights
- Nine‑unit, two‑building brick multifamily property totaling 8,578 square feet
- All units offer two‑bedroom layouts; mix includes three 2BR/1.5‑bath townhouses and six 2BR/1‑bath apartments
- Renovated units include granite counters, stainless steel appliances, new cabinetry, updated vanities, and new flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,354
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,267,080
$2.3M
Cap Rate 7%
$1,619,343
$1.6M
Cap Rate 9%
$1,259,489
$1.3M
Market Conditions
NOI Build-Up for 8,578 SF
Gross rent
$219.3K $25.56/SF
− Vacancy
−$13.2K −$1.53/SF
EGI
$206.1K $24.03/SF
− OpEx
−$92.7K −$10.81/SF
NOI
$113.4K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,267,080
Cap Rate 7%
$1,619,343
Cap Rate 9%
$1,259,489
Alternative Uses
Best Use
Apartment 5plus
$1.62M
$1.42M – $1.89M
NOI $113,354 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.04M
$1.79M – $2.38M
NOI $142,828 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
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Business Placement
Demographics for 02861, RI
27,833
Population
11,928
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
3.6 sq mi
ZIP Area
7,731
Density / Sq Mi
$83,044
Median Household Income
$47,384
Median Earnings
$1,278
Median Rent
$285,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily asset with renovated townhouse-style residences and central air throughout.
Where is this apartment building located?
The property is located at 10 Saratoga Ave Pawtucket, RI.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Nine‑unit, two‑building brick multifamily property totaling 8,578 square feet; All units offer two‑bedroom layouts; mix includes three 2BR/1.5‑bath townhouses and six 2BR/1‑bath apartments; Renovated units include granite counters, stainless steel appliances, new cabinetry, updated vanities, and new flooring
