464 Summer St Woonsocket, RI 02895
- Commercial real estate
- 5,967 SF
- 0.25 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 464 Summer St
- Year built
- 1915
- Lot size
- 0.25 lot acres
- Property size
- 5,967 SF
- Property type
- Commercial real estate
Description
This exceptional 8-unit apartment building at 464 Summer Street, Woonsocket, RI presents a rare investment opportunity. The property sits on a 0.25-acre lot and boasts a total of 5,967 square feet of space. Each of the eight units is meticulously maintained and in excellent condition, offering comfortable living for tenants. The units are individually charming and well-maintained, creating a welcoming atmosphere. A convenient on-site coin-operated laundry facility adds to the property's appeal and tenant convenience. Currently, rents are below market value due to long-term, reliable tenants, indicating a stable and desirable community. This translates to a strong foundation for future income growth as leases turn over and market rates are implemented. The property's prime location in Woonsocket's North End contributes to its desirability and potential for appreciation. This well-maintained apartment complex offers a blend of charm, functionality, and strong community appeal, making it an ideal investment for both seasoned investors and first-time buyers seeking a stable and potentially lucrative venture. The asking price for this turnkey property is $1,250,000. This is a must-see opportunity to acquire a well-established multifamily property in a thriving Rhode Island community.
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
- Woonsocket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.51962
- Latitude
- 42.01483
