$970,000
$1,249,900
22.4%For more information regarding the value of a property, please contact us for a free consultation.
18 Beds
6 Baths
7,740 SqFt
SOLD DATE : 09/02/2025
Key Details
Sold Price $970,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,740 sqft
Price per Sqft $125
Subdivision Blackstone, Ma/Ri Line
MLS Listing ID 1379537
Bedrooms 18
Full Baths 6
Year Built 1900
Annual Tax Amount $11,140
Tax Year 2023
Lot Size 0.265 Acres
Property Sub-Type Multi Family
Property Description
This is a chance to own (6) 3-bedroom residential units and (1) stand-alone commercial building [1,056 sq. ft.] with a successful family-owned business that has thrived for decades. Multiple financing options available. Pete's Bait Shop is being sold with a history of success within the fishing community. Inquire for more information on business financials. The (6) residential units each span 1,110 +/- sq. ft, and are currently all rented. Current rents are below market. Proforma rent per unit is conservatively $1,400-1,700 per unit ($100,800-$122,400 annually) with minimal updating needed to obtain these proforma numbers. Not included in our valuation is the 4-bay garage that is large enough for 6 cars, nor does it include income from the existing business. Market rent for the commercial unit is between $2,000-$3,000 per month.
Location
State RI
County Providence
Community Blackstone, Ma/Ri Line
Zoning R4
Interior
Heating Baseboard, Gas, Space Heater
Cooling None
Flooring Carpet, Hardwood, Laminate
Fireplaces Type None
Laundry Common Area
Exterior
Parking Features Detached
Garage Spaces 6.0
Community Features Highway Access, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping
Utilities Available Sewer Connected
Building
Foundation Stone
Sewer Connected, Public Sewer
Water Connected, Public
Structure Type Plaster,Aluminum Siding,Vinyl Siding
New Construction No
Others
Acceptable Financing Lease Back
Listing Terms Lease Back
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