Sq.Ft. Lot10,019
Year1930
Status:
Sold
Property Type:Commercial/Business
MLS #:1311259
Date Sold:1/30/2023
Lot Size:10,019 Sq. Ft.
County:Providence
Well maintained DOUBLE LOT legal 5-unit in EXCEPTIONAL CONDITION! FIVE FULLY RENOVATED SUITES. That's right each 2 bed 1 bath unit has been kept fresh and up to date, redone from top to bottom, what's more the purchaser will enjoy an oversized lux 3 bed 2 bath "owners unit" on the top floor! This free standing professionally managed property is COMPLETE with a NEW ROOF (installed in 2020) vinyl siding and 10+ car parking (See attachments section for aerial lot detail). PLENTY OF UPSIDE potential here as well. Market rent for 2/1 in the area are around $1,395. Utilize the extra lot for parking, gardening, garage space or possible development? Full unfinished basement has potential for Value-add ons as well, storage and/or coin op machines for the laundry (already setup for gas/electric washers and dryers). Call today for your showing!
Detailed Maps
Price Change History
| Date | Old Price | New Price | Percent Change |
| 6/23/2022 | $699,000 | $649,000 | -7.2% |
| 1/31/2023 | $649,000 | $600,000 | -7.6% |
Community Information
Address:888 Branch Ave, Providence, RI 02904
County:Providence
City:Providence
Neighborhoods:Wanskuck, Wanskuck Park
Zip Code:02904
Property Features
Lot Size:
0.23 Acres / 10,019 Sq. Ft.
Lot Features: Wooded
Frontage Length: 30
Utilities: Electricity Available, Natural Gas Available, Natural Gas Connected, Municipal Utilities, Phone Available, Sewer Connected, Water Connected
Sewer: Connected, Public Sewer, StormSewer
Water: Connected, Public
Electric: 100 Amp Service
Road Frontage: City Street
Road Surface: Asphalt, Paved
Zoning:R3
Tax and Financial Info
Tax Year: 2021
Tax Annual Amount: $7,009
Buyer Financing: Private
Cap Rate: 8.0
Gross Income: $80,220
Net Operating Income: $57,167
Insurance Expense: $2,500
Maintenance Expense: $5,000
New Taxes Expense: $7,009
Tenant Pays: CableTV, Electricity, Gas, Heat
Ownership: Sole Proprietor
Association Amenities: Maintenance, Playground, Restaurant, Recreation Room
Schools
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Listing Information Last Updated 3/30/2023
Listing provided courtesy of Century 21 North East Group.
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© 2023 State-Wide Multiple Listing Service. All rights reserved.