51 Wood Ave
woonsocket, RI 02895$1,185,000
- Contract signed
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Exceptional opportunity to acquire a professionally managed 8-unit multifamily compound featuring two buildings on one lot: a 7-unit apartment building plus a detached single-family residence. Located in a strong Northern Rhode Island rental market, this asset offers immediate in-place cash flow with clear upside through lease-up and rent optimization. Stabilized gross annual income is projected at approximately $133,080. The main building includes six 2-bed/1-bath units and one 1-bed/1-bath unit, each offering efficient, rental-friendly layouts. The detached single-family home features 3 bedrooms and 1 bath, adding valuable income diversification. Significant capital improvements include updated roofs, improved parking and driveways, and numerous mechanical upgrades, making this a compelling value-add investment with strong long-term appreciation potential.
Details
6,300 Sq Ft
0.2 Private Acres Lot Size
investment
$1,444 Monthly Tax
Built in 1910
MLS/Listing ID 73508838
5 Stories
8 Units
Amenities & Features
Parking - Off Street
Parking - Common
Porch
Enclosed
Community - Sidewalks
Community - Shopping
Community - Public Transportation
Community - Park
Construction - Frame
Community - Highway Access
Community - House of Worship
Community - Laundromat
Community - Medical Facility
Community - Private School
Community - Public School
Community - T-Station
Irregular
Asphalt/Composition Shingles
Public Sewer
Public Water
Stone
Concrete Perimeter
Parking - Paved
Parking - Tandem
Lot - Level
Lot - Sloped
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