Listing Agency: RE/MAX Real Estate Center Show Phone

Listed By: David Tatangelo · License #RES.0029833 Show Phone

Source: Exprealty

Added: Aug 4 Changed: Sep 5 Last Checked: Oct 5 at 10:49PM

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Investment Insights

Based on property information with market context.

This 5-unit apartment property at 8 Highview Ave includes 3,597 square feet of building area on a 34, 848 sq. ft. lot. Two apartments have been refurbished, while the broader improvements include vinyl siding, replacement windows, updated electrical service with a common meter, and an architectural roof. The property is Lead Certified and compliant with hardwired fire-code requirements.

Off-street parking supports the residential layout. Its suburban Hope Valley setting and five-unit configuration provide an established multifamily asset with documented rental history and potential for future expansion, as stated in the property information.

Key Highlights

• 5‑unit apartment property with 3,597 square feet of building area
• Situated on a 34, 848 sq. ft. lot at 8 Highview Ave, Hope Valley, RI
• Two of five units have been completely refurbished

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,862

Cap Rate

4.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$757,240 $757.2K

Cap Rate 7%

$540,886 $540.9K

Cap Rate 9%

$420,689 $420.7K

Market Conditions

NOI Build-Up for 3,597 SF

Gross rent

$72.1K $20.04/SF

− Vacancy

−$3.2K −$0.90/SF

EGI

$68.8K $19.14/SF

− OpEx

−$31.0K −$8.61/SF

NOI

$37.9K $10.53/SF

Area

Washington County, RI

Vacancy

4.50%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$757,240

Cap Rate 7%

$540,886

Cap Rate 9%

$420,689

Alternative Uses

Best Use

Apartment 5plus

$540.9K

$473.3K – $631.0K (±1% cap)

NOI $37,862 @ 7.0% cap · market cap 4.55%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$718.7K

$628.9K – $838.5K (±1% cap)

NOI $50,308 @ 7.0% cap · market cap 6.04%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Building Supply Real Estate Agency HVAC Service Auto Repair Shop Electrical Service Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Residential units

Location Intelligence

Trade Area within ½ mile

36

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Apartment building - Lead-certified property with two refurbished units and updated building systems.

Where is this apartment building located?

The property is located at 8 Highview Ave Hope Valley, RI.

What is the asking price?

The asking price for this property is $833,000.

What are key features of this property?

This property features: 5‑unit apartment property with 3,597 square feet of building area; Situated on a 34, 848 sq. ft. lot at 8 Highview Ave, Hope Valley, RI; Two of five units have been completely refurbished