12 BELLS CT # 16 Cumberland RI 02864-8392

11-Unit Multifamily Portfolio in a Prime City Location

Unlock the door to a wealth of opportunities with this impressive 11-unit multifamily property located in one of the city's most sought-after locations. The exclusive package comprises four separate, well-maintained buildings, presenting a unique investment opportunity for discerning buyers.

Unit Details: The portfolio boasts eight spacious two-bedroom units and three highly desirable three-bedroom units, totaling 9,903 sq ft. This diverse unit mix is crafted to appeal to a broad tenant base, ensuring high occupancy rates and sustained demand.

Financials and Potential: Currently, the property generates an annual gross rent of $140,940. However, with careful market study, we've pinpointed a considerable rent gap. The estimated market rent for the property ranges from $206,400 to $236,400 annually, suggesting a potential increase in gross annual rent from $65,460 up to $95,460. Factoring in a standard vacancy and collection loss of 5% and estimated operating expenses at 35% of effective gross income, the net operating income (NOI) could range between $127,452 and $145,977.

Considering the property's purchase price of $1,700,000, the cap rate could vary from 7.89% to 9.04%, indicating a strong return potential. Aligning rents to the current market could result in a net cash flow after financing between $1,249 and $3,184 monthly. For context, our mortgage payment estimates are based on a 25% down payment, with a remaining loan balance subjected to a 7% interest rate over 30 years.

Using a conservative capitalization rate of 6%, if rents are aligned to market rates, the property's valuation could soar. At minimum market rents, the potential valuation stands at approximately $2.124 million, while at maximum market rents, the valuation could touch $2.433 million.

Location and Appeal: Nestled within a highly desirable neighborhood, the property's location significantly boosts its sustained demand and occupancy rates. Whether you're looking to diversify your portfolio, secure a new investment, or simply elevate your cash flow, this 11-unit property is an exemplary blend of location, value, and opportunity.

Conclusion: While already a standout performer, this property harbors immense potential for value-add and growth opportunities. Promising immediate income and consistent cash flow, we invite you to delve deeper into the financials that make this asset a remarkable investment prospect. Embark on the path to a rewarding real estate investment by exploring the potential of this multifamily gem.

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*Proforma financials based on Market Rent Data, buyers to do all due diligence. See Offering Memorandum
**Cap Rate Range Based on Market Rent Data. and a purchase price of 1.7M. See Additional Information on Financials

• 4 Buildings

• 3 Lots

• (3) 3 Unit Buildings

• (1) 2 Unit Building

• 5% Vacancy

• BELOW Market Rents

• Instant Cash Flow

• Proforma Cap Rate ABOVE 8%

• Rising market rents

• Private street

• Fully Rented

• HUD Approved