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    1350 Elmwood Ave Cranston, RI 02910

    Sponsored
    For Sale
    $729,900

    Five-unit building, six garages, great income.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    343
    This exceptional investment opportunity presents a well-maintained five-unit residential multifamily property situated at 1350 Elmwood Avenue in Cranston, Rhode Island. The property sits on a 0.27-acre lot and is offered at $729,900. The building boasts newer heating systems, ensuring efficient and cost-effective operation. A significant advantage is the six garages included, generating supplemental income streams for the owner. Ten off-street parking spaces provide ample parking for residents and visitors, a valuable amenity in a densely populated area. Each of the five units is currently occupied, with tenants responsible for their own utilities, minimizing the owner's operational responsibilities. This turnkey investment offers a strong potential for both immediate and long-term returns. The property's solid construction, desirable location, and income-generating features make it an attractive proposition for savvy investors seeking a stable and profitable addition to their portfolio. The combination of residential rental income and garage rental income provides a diversified revenue stream, mitigating risk and enhancing overall profitability. This is a rare opportunity to acquire a well-maintained, income-producing multifamily property in a thriving Rhode Island community. Serious inquiries are encouraged.

    Property Features for 1350 Elmwood Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    11,761 SF

    Building Details

    Year Built
    1894
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cranston
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.42228
    Latitude
    41.77353

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    FAQs

    What type of property is this?
    Commercial real estate - Five-unit building, six garages, great income.
    Where is this commercial real estate located?
    The property is located at 1350 Elmwood Ave Cranston, RI.
    What is the asking price?
    The asking price for this property is $729,900.
    (401) 884-6050
    Request Owner's contact information
    1350 Elmwood Ave Cranston, RI 02910
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1350 Elmwood Ave Cranston, RI 02910
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