$400,000
$390,000
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470 Academy AVE Providence, RI 02908
8 Beds
3 Baths
4,504 SqFt
Key Details
Sold Price $400,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,504 sqft
Price per Sqft $88
Subdivision Elmhurst / Prov. College / Lasalle
MLS Listing ID 1331438
Sold Date 04/18/23
Bedrooms 8
Full Baths 3
HOA Y/N No
Abv Grd Liv Area 4,504
Year Built 1920
Annual Tax Amount $7,424
Tax Year 2022
Lot Size 5,000 Sqft
Acres 0.1148
Property Description
A terrific opportunity to own a 3-family home in the sought-after Elmhurst neighborhood of Providence! Close to Providence College, LaSalle Academy, and RI College, this historic charmer is big and bright, and features off-street parking for 6 cars in the double-wide driveway and for 2 more in the detached garage. The 1st and 2nd floor units feature similar layouts, each with 3 bedrooms, 1 full bathroom, a kitchen, a dining room and a living room. The 3rd floor unit has 2 bedrooms, 1 full bathroom, a kitchen and a living room. The 1st floor unit has a private front entrance, while the 2nd and 3rd floor units are each accessed by both front & back shared stairwells. Features of the house incl. inviting front porches on the 1st and 2nd levels, charming hardwood floors, high ceilings, replacement windows, aluminum storm doors (2019), a 1-layer roof (2019), a new copper main water line from the street to the house (2019), 3 new hot water tanks (2022), a code-compliant interconnected wireless smoke/co detection system (2023), separate utilities, & on-site laundry & ample storage in the basement. Great for a flip or as an owner-occupied opportunity, w/ rental income paying the mortgage and a homestead exemption to reduce the property taxes by 45%. Current rents are approx. 50% of actual market rate, with all tenants on month-to-months leases. The house does need TLC / updating and will not pass FHA. Selling "as is," below assessment, for cash or via conventional or rehab loan only.
Location
State RI
County Providence
Community Elmhurst / Prov. College / Lasalle
Zoning R-2
Rooms
Basement Exterior Entry, Full, Interior Entry, Unfinished
Interior
Interior Features Tub Shower
Heating Gas, Hot Water, Other
Cooling 1 Unit
Flooring Carpet, Hardwood, Laminate, Vinyl
Fireplaces Type None
Fireplace No
Appliance Gas Water Heater, Oven, Range, Refrigerator, Water Heater
Laundry Common Area
Exterior
Exterior Feature Paved Driveway
Parking Features Detached
Garage Spaces 2.0
Community Features Golf, Highway Access, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s), Sidewalks
Utilities Available Sewer Connected
Total Parking Spaces 6
Garage Yes
Building
Foundation Brick/Mortar, Combination, Concrete Perimeter
Sewer Connected, Public Sewer
Water Connected, Public
Structure Type Plaster,Vinyl Siding
New Construction No
Others
Senior Community No
Tax ID 470ACADEMYAVPROV
Financing Private
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