1350 Elmwood Ave Cranston, RI 02910
- Commercial real estate
- 0.27 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1350 Elmwood Ave
- Year built
- 1894
- Lot size
- 0.27 lot acres
- Property type
- Commercial real estate
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cranston
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.42228
- Latitude
- 41.77353
