10 Pearl AVENUE

About this home

Turnkey, fully rented income-producing investment with strong cash flow. This well-maintained, wheelchair-accessible 7-suite multi-family property offers an outstanding opportunity for investors seeking stable rental income. Conveniently located just minutes from Melville, this approximately 5,500 sq. ft. building sits on a generous 140' x 150' lot and features seven fully rented well-maintained rental suites, including four 1-bedroom units, two 2-bedroom units, and one bachelor suite. Designed for tenant comfort and ease of management, the property offers a spacious common area, free shared laundry, private patio space for each suite, beautifully maintained green space, and six electrified parking stalls. The building has been well cared for and provides comfortable living in a quiet community, making it attractive to long-term tenants. With an approximate gross annual rental income of $68,400, estimated operating expenses of $29,000, and an approximate Net Operating Income (NOI) of $39,400, this property presents a solid investment opportunity with immediate income and future appreciation potential. Whether you're expanding your real estate portfolio or purchasing your first multi-family investment, this property offers an excellent combination of cash flow, stability, and value. All measurements, income, expenses, and projections are approximate and should be independently verified by interested buyers. (id:66966)

Details

Type

Multiplex

Style

Low rise

Property tax

$4,387 (2025)

Municipality

Killaly

Interior

Fireplace

No

Appliances

Washer, Refrigerator, Stove, Dryer

Heating, cooling and services

Heating

Electric, Natural gas, Hot Water

Building and exterior

Style

Low rise

Year built

1988

Parking

Total parking

6

Location

Location is approximate. See nearby homes on the map