Conway of United Multi Family sells 16 unit apartments building - $1.008m

Woonsocket, RI United Multi Family (UMF) brokered the sale of a 16 unit apartment building at 837 Social and 133 River for $1.008 million ($63,000 per unit). Handled by Jim Conway of the New England UMF office, the brick residences were built in the 1900s and sold by D&N Enterprises, LLC to Elsie Ewing with financing provided by Montgomery Wilshire Capital. The CAP rate at the time of sale was 10 % with the property having a gross annual income of $151,500.