51 Wood Ave, Woonsocket, RI 02895
- $1,185,000
- 6,300
- SqFt
- List Price
- $1,185,000
- Status
- ACTIVE
- MLS#
- 73508838
- Living Area
- 6,300
- Lot Size (Acres)
- 0.2
- Year Built
- 1910
Property Description
Exceptional opportunity to acquire a professionally managed 8-unit multifamily compound featuring two buildings on one lot: a 7-unit apartment building plus a detached single-family residence. Located in a strong Northern Rhode Island rental market, this asset offers immediate in-place cash flow with clear upside through lease-up and rent optimization. Stabilized gross annual income is projected at approximately $133,080. The main building includes six 2-bed/1-bath units and one 1-bed/1-bath unit, each offering efficient, rental-friendly layouts. The detached single-family home features 3 bedrooms and 1 bath, adding valuable income diversification. Significant capital improvements include updated roofs, improved parking and driveways, and numerous mechanical upgrades, making this a compelling value-add investment with strong long-term appreciation potential.
Additional Information
- Taxes
- $17,333
- Parking Description
- Paved Drive, Off Street, Tandem, Common, Paved
- Lot Description
- Level, Sloped
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Listing Agent: Donald Martone from Listing Office: BOND BROKERAGE.
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