Two-Building Multifamily
8 King Pawtucket, RI 02860
8 King, Pawtucket, RI, 02860
$849,900
For Sale
$849,900
Two buildings with five occupied rental units and updated parking, offering an income-focused residential investment in Pawtucket.
Property Size4,550 SF
Price / SF$186.79
Days on Market29
Property Features for 8 King
General Information
- Standard status
- Active
- Size
- 4,550 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing Agency
CENTURY 21 GONSALVES - PASTORE
(401) 728-2770
Listed by
ROBIN PASTORE
Source
Corcoran
Added: Jun 20 Checked: Jul 17 at 3:41 am
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 CENTURY 21 GONSALVES - PASTORE
Investment Insights
Based on property information with market context.
This well-maintained multifamily property features two separate buildings totaling five rental units. The front building contains three spacious 3-bedroom apartments, while the rear building offers two comfortable 2-bedroom units. All units are currently occupied by long-term tenants, supporting continuity for an owner seeking steadier operations. The property also includes updated parking facilities, improving day-to-day convenience for residents.
Located in Pawtucket, the asset is arranged to provide a straightforward mix of unit sizes across the two buildings. With the front and rear structures containing distinct unit configurations, the layout supports a clean tenant mix of 3-bedroom and 2-bedroom homes. The updated parking helps accommodate resident needs on-site.
For investors or buyers looking to add a residential income property, the current in-place occupancy by long-term tenants is a key consideration. The five-unit composition offers an owner diversified by apartment size, with three 3-bedroom units paired with two 2-bedroom units. Updated parking is an additional practical feature that can help with resident satisfaction and property management. Overall, the property’s two-building setup, unit mix, and maintained condition make it a functional fit for buyers targeting a manageable multifamily portfolio.
Located in Pawtucket, the asset is arranged to provide a straightforward mix of unit sizes across the two buildings. With the front and rear structures containing distinct unit configurations, the layout supports a clean tenant mix of 3-bedroom and 2-bedroom homes. The updated parking helps accommodate resident needs on-site.
For investors or buyers looking to add a residential income property, the current in-place occupancy by long-term tenants is a key consideration. The five-unit composition offers an owner diversified by apartment size, with three 3-bedroom units paired with two 2-bedroom units. Updated parking is an additional practical feature that can help with resident satisfaction and property management. Overall, the property’s two-building setup, unit mix, and maintained condition make it a functional fit for buyers targeting a manageable multifamily portfolio.
Key Highlights
- Two‑building Pawtucket multi‑family with 5 total rental units
- Front building has three 3‑bedroom apartments
- Rear building has two 2‑bedroom apartments
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $116.3k | $25.56 |
| − Vacancy | −$7.0k | −$1.53 |
| EGI | $109.3k | $24.03 |
| − OpEx | −$49.2k | −$10.81 |
| NOI | $60.1k | $13.21 |
4,550 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$858.9K
$751.6K – $1.00M
NOI $60,126 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.08M
$947.0K – $1.26M
NOI $75,760 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two buildings with five occupied rental units and updated parking, offering an income-focused residential investment in Pawtucket.
Where is this apartment building located?
The property is located at 8 King Pawtucket, RI.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two‑building Pawtucket multi‑family with 5 total rental units; Front building has three 3‑bedroom apartments; Rear building has two 2‑bedroom apartments
