$770,000
$849,900
9.4%For more information regarding the value of a property, please contact us for a free consultation.
347 Grove ST Woonsocket, RI 02895
7,913 SqFt
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
Read Less
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Bought with RE/MAX ADVANTAGE GROUP