

Listed by Engel & Volkers East Greenwich
$699,900
612 Rathbun St
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,406
Units 4
Price per SqFt $129
Year Built 1925
Stories 3
Acreage 0.310
Zoning 3FAMC
Parking Spaces 10 spaces
Parking Per SqFt 1.85
Multifamily | 4 Units
Marketing description
Exceptional investment opportunity for investors seeking long-term value and future rental growth. Well-maintained 3-family featuring three spacious 3-bed units, each approximately 1,200 sq ft, with separate utilities, in-unit laundry hookups, basement storage, parking for 8+ vehicles, and a beautiful yard. Extensive infrastructure upgrades since 2020 include complete replacement of all knob-and-tube wiring, new electrical panels in each unit, all new PEX plumbing throughout, new PVC stack, new roof, 3 new hydroelectric water heaters, insulation improvements, hardwired smoke/CO detectors, updated common areas, and significant exterior/porch code and safety improvements. The first-floor unit also features a new 96% high-efficiency gas FHA furnace and central air. Long-term tenants with below-market rents offer substantial future income upside, while the extensive system improvements provide a strong foundation for continued ownership and value growth.
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Listed by Engel & Volkers East Greenwich
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