Woonsocket, RI 02895,347 Grove ST
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Woonsocket, RI 02895,347 Grove ST
Woonsocket, RI 02895,347 Grove ST
Woonsocket, RI 02895,347 Grove ST
Woonsocket, RI 02895,347 Grove ST

$770,000

Est. payment /mo

$849,900

9.4%
Est.Price: ?

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347 Grove ST Woonsocket, RI 02895

7,913 SqFt

SOLD DATE : 11/21/2023

Key Details

Sold Price $770,000

Property Type Commercial

Sub Type Commercial

Listing Status Sold

Purchase Type For Sale

Square Footage 7,913 sqft

Price per Sqft $97

Subdivision Bernon

MLS Listing ID 1338924

Sold Date 11/21/23

HOA Y/N No

Abv Grd Liv Area 7,913

Year Built 1900

Annual Tax Amount $12,669

Tax Year 2022

Lot Size 7,405 Sqft

Property Description

Price just reduced to $849k! Don't miss this incredible investment opportunity in a very large, 7-unit residential building. Each unit features a spacious 3-bedroom layout, boasting approximately 1,100 sq ft of living space. Currently, the building generates a monthly income of $9,100, with a cap rate of over 8.25%. Long-term tenants provide stable rental income, and there is significant potential to further increase rents. The property offers a convenient coin-operated laundry room and ample off-street parking. Tenants pay their own utilities, maximizing returns. With updated electrical, plumbing, and heating systems, the building offers some modern functionality and efficiency. The fire alarm system is up to date and regularly tested. With a total of 7,913 sqft, these generously sized apartments present great rental potential. Take advantage of below market rents.

Location

State RI

County Providence

Community Bernon

Zoning R4

Rooms

Basement Full

Interior

Heating Forced Air, Hot Water, Space Heater

Cooling None

Furnishings Unfurnished

Laundry Common Area, Laundry Room

Exterior

Utilities Available Cable Available, Electricity Available, Natural Gas Available, Natural Gas Connected, Sewer Connected

Total Parking Spaces 7

Building

Story 3

Foundation Combination

Sewer Connected, Public Sewer

Water Connected, Public

Level or Stories 3

Structure Type Frame

New Construction No

Others

Tax ID 347GROVESTWOON

Security Features Fire Alarm,Security Lights

Financing 1031 Exchange

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Listed by American Homes & Commercial RE
Bought with RE/MAX ADVANTAGE GROUP

Jeremy Bailey

Broker | License ID: RI, MA, CT

+1(401) 402-0289

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