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    61 Elm St Woonsocket, RI 02895

    Sponsored
    For Sale
    $799,000

    Seven-unit property, high cap rate.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a seven-unit multifamily property situated on a corner lot in Woonsocket, Rhode Island, at 61 Elm Street, zip code 02895. The property comprises two buildings totaling 2100+ square feet of combined living space on an 8,276 square foot lot. The Elm Street building features four two-bedroom, one-bathroom units and one four-bedroom, one-bathroom unit. A new roof and several updated mechanical systems enhance this building. The Brook Street building, a two-unit structure, includes a two-bedroom, one-bathroom unit on the first floor and a four-bedroom, one-bathroom unit spanning the second and third floors, plus a bonus room on the fourth floor. This building boasts a like-new interior and a history of stable, long-term tenants. Ample off-street parking and a designated dumpster area are provided. The property generates substantial rental income and enjoys convenient access to major highways and downtown Providence. Tenants are responsible for their own utilities. This turnkey, well-maintained property offers a high cap rate and is ideal for both new and experienced investors. The asking price is $799,000.

    Property Features for 61 Elm St

    General Information

    Property type
    Land
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5009644
    Latitude
    42.0096061

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    FAQs

    What type of property is this?
    Land - Seven-unit property, high cap rate.
    Where is this land located?
    The property is located at 61 Elm St Woonsocket, RI.
    What is the asking price?
    The asking price for this property is $799,000.
    Request Owner's contact information
    61 Elm St Woonsocket, RI 02895
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    Woonsocket, RI 02895
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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
    61 Elm St Woonsocket, RI 02895
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