786 Social is a high-performing six-unit asset generating a strong $11,925/month ($143K annually), consisting of (1) 4-bed/2-bath, (1) 3-bed/2-bath, and (4) 3-bed/1-bath units. Each unit has its own washer & dryer, balcony, and spacious living area. With separate electric and gas meters (paid by tenants) and trash removal covered by the city, this is a low-expense property. The asset consists of two 3-unit buildings on one parcel, both having undergone extensive upgrades, including new roofs, siding, electrical, kitchens, bathrooms, flooring, and appliances. Offering a blend of turnkey and value-add potential, this property provides immediate & significant positive cash flow with no work required, while still allowing for additional renovations to further increase revenue. Large, clean basements offer potential storage income, and there's upside potential for condo conversions. An appraisal valued the property at $1.25M, which we have in hand. Financials available.
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Permits
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Multi-Family (5+ Unit)
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Providence County
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Last updated by owner on Jan 7, 2022.
Sep 10, 2023 • Final
Electrical
Install electrical wiring for two bathrooms, a kitchen, and electric heating. Perform miscellaneous electrical work associated with existing permits.
Bathroom
Electrical
Kitchen
Mar 13, 2023 • Final
Building permit - old
Frame a partition wall to add two new bathrooms on the first floor.
Addition
Bathroom
Remodel
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.