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$950,000
Est. payment /mo
4,984 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1392409
HOA Y/N No
Year Built 1912
Annual Tax Amount $14,437
Tax Year 2024
Lot Size 4,984 Sqft
Property Sub-Type Commercial
Property Description
Discover the potential of this well-maintained 5-unit property offering over 4,800 sq. ft. of living space in the heart of Pawtucket on Lonsdale Avenue. The building is in great condition with many updates, including a newer roof (7 years old), updated PVC plumbing, and newer utilities all seperate for each unit. Currently generating $6,350/month with long-term, reliable month-to-month tenants (some in place 5 20 years), this property offers immediate cash flow with substantial upside. With below-market rents, there is an excellent opportunity to raise rents and significantly increase income. Operating expenses average around $20,000 per year total, and the property is currently covered under an umbrella insurance policy (which could be reduced with standard coverage). Conveniently located near shopping, dining, schools, and easy highway access, this property is positioned in a high-demand rental area. Whether you're an experienced investor or looking to expand your portfolio, this 5-unit presents strong current income with even stronger future potential. Unit Mix: Two (1-Bedroom 1 Bath) One (2-Bedroom 1 Bath) One (3-Bedroom, 1.5 Bath) One (4-Bedroom, 1 Bath)
Location
State RI
County Providence
Interior
Laundry Common Area
Exterior
Community Features Golf, Highway Access, Marina, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s), Sidewalks
Utilities Available Sewer Connected
Street Surface Asphalt
Total Parking Spaces 3
Building
Foundation Concrete Perimeter
Sewer Connected
Water Connected
Structure Type Frame
New Construction No
Others
Tax ID 274LONSDALEAVPAWT
Virtual Tour https://tour.RiLiving.com/274-Lonsdale-Avenue-Pawtucket-RI-02860
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