61 Elm St Woonsocket, RI 02895

Property Details for 61 Elm St

Property type

Commercial real estate

Description

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.