Current Use by Public Records
- Retail properties & Spaces
Property Details for 1403 Mendon Rd Mendon Rd
- Year built
- 1930
- Property type
- Retail properties & Spaces
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use property, located at 1403-1407 Mendon Road in Cumberland, Rhode Island, presents a lucrative investment opportunity. Built in 1930, this three-story building sits on a substantial 15,246 square foot lot and comprises six units: four residential apartments and two commercial spaces. Each of the four apartments offers three bedrooms, a kitchen, living room, dining area, and a full bathroom. The two commercial units are equipped with air conditioning and restrooms. All six units are currently occupied under month-to-month leases, providing immediate cash flow. Each unit has its own utilities and there are six individual furnaces. Ample parking is available, with two assigned spaces for each apartment and sixteen spaces designated for the commercial units. The commercial units benefit from a 200-amp electrical service, while the apartments have 100-amp service. The property is fire-coded and the annual fire tax is $774.00. This property offers a blend of residential and commercial income streams, making it an attractive investment in a desirable Rhode Island location. The asking price is $1,498,000. This is a rare opportunity to acquire a well-maintained, income-producing property with significant potential for future growth.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cumberland
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.429
- Latitude
- 41.9365
