145 Burnside Avenue,Woonsocket, RI 02895
Woonsocket, RI 02895
Description
5-UNIT MULTI-FAMILY INVESTMENT OPPORTUNITY - STRONG CASH FLOW + VALUE-ADD UPSIDE!!! INVESTOR ALERT: 5 Unit value add opportunity with immediate cash flow and a clear path to double-digit returns. This well-maintained multifamily generates $87,900 in current gross income (9.2% cap rate) with separate utilities, off-street parking, and a detached 2-car garage. Four of five units are fully updated and rent-ready; one unit is below market and needs updated heating system plus light cosmetic work, representing straightforward renovation play. Bringing all units to market rent pushes gross income to roughly $103,200/year and the cap rate to approximately 11.3% - a build in value add story rare at this price point. Conveniently located near major highways, shopping and public transportation. Property is being sold as-is; porches require repair, offering an additional opportunity to force appreciation. An ideal acquisition for 1031 exchange buyers or investors seeking a stabilized asset with organic upside already identified. Investor Group Tour - Wednesday, July 1, 5:00pm-6:30pm.
Details
| MLS # | 1417296 |
|---|---|
| Listing Type | For Sale |
| Style | Apartment,residence |
| Sub-Type | Resale |
| Status | Active |
| Year | 1914 |
| Days On Site | 77 |
| Listing Provided By | Exp Realty | Kimberly Rodrigues |
Features
| Story(s) | 3 |
|---|---|
| Building(s) | 1 |
| Acreage | 0.12 |
Exterior
| Lot Features | Suburban |
|---|
Utilities
| Sewer | Connected |
|---|---|
| Electric | Circuit Breakers |
Taxes
| Tax Annual Amount | 5130 |
|---|---|
| Tax Assessed Value | 456800 |
| Tax Lot | 104 |
| Tax Year | 2025 |
Area Information
| State | RI |
|---|---|
| County | Providence |
| City | Woonsocket |
| Zip Code | 02895 |
| Area | Providence |
| Listing VS Median (in 02895) | |
Price: $725,000 low | high Med: $399,900 On site: 77 low | high Med: 37 | |
Market Activity 02895
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Learn More About This Property
| State | RI |
|---|---|
| County | Providence |
| City | Woonsocket |
| Zip Code | 02895 |
| Area | Providence |
| Listing VS Median (in 02895) | |
Price: $725,000 low | high Med: $399,900 On site: 77 low | high Med: 37 | |
