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1/42

Johnston, RI 02919
Asking Price
$3.20M
Asset Type
Multifamily
Class
Class B

What's Special

Located at 1/42 Johnston, Rhode Island, this multifamily property is situated in a balanced suburban environment characterized by residential clusters and local commercial corridors. The neighborhood provides convenient access to essential amenities, including grocery stores, dining options, and retail centers along nearby thoroughfares. Residents benefit from Proximity to Route 6 and Interstate 295, facilitating efficient commutes to downtown Providence and surrounding employment hubs. The area is served by regional public transit connections, enhancing its accessibility for non-drivers. The property is ideally suited for long-term residential leasing or a value-add investment strategy. Given its location near major transportation arteries and local service industries, the typical tenant profile consists of working professionals, small families, and commuters seeking a central Rhode Island base. The asset's configuration supports stable occupancy by meeting the demand for functional housing within an established community. Its versatile layout allows for various unit optimizations to cater to the diverse demographic needs of the Johnston rental market.

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NOI
$80,000
Cap Rate
2.50%
DSCR
0.42
Underwater
Cash-on-Cash
-11.46%
Monthly Payment
$15,831.854
Annual Cash Flow
$-109,982.248

Location & Travel Times