51 Wood Ave, Woonsocket, RI 02895
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51 Wood Ave, Woonsocket, RI 02895
51 Wood Ave, Woonsocket, RI 02895
51 Wood Ave, Woonsocket, RI 02895
51 Wood Ave, Woonsocket, RI 02895
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Spectrum Real Estate Consultants

Spectrum Real Estate Consultants

+1(401) 334-3334
$ 1,185,000
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51 Wood Ave Woonsocket, RI 02895

6,300 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5-9 Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,300 sqft

Price per Sqft $188

MLS Listing ID 73508838

Year Built 1910

Annual Tax Amount $17,333

Tax Year 2025

Lot Size 8,712 Sqft

Acres 0.2

Property Sub-Type 5-9 Family

Property Description

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.

Location

State RI

County Providence

Zoning R4

Direction Take I-295 N to RI-146 N, exit for Woonsocket, follow to Wood Ave/51 Wood Ave.

Rooms

Basement Full, Interior Entry, Concrete, Unfinished

Exterior

Community Features Public Transportation, Shopping, Park, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T-Station, Sidewalks

Roof Type Asphalt/Composition Shingles

Total Parking Spaces 13

Garage No

Building

Lot Description Level, Sloped

Story 5

Foundation Concrete Perimeter, Stone, Irregular

Sewer Public Sewer

Water Public

Others

Senior Community false

Listed by BOND BROKERAGE

Nearby Locations

Spectrum Real Estate Consultants

Spectrum Real Estate Consultants

Admin

+1(401) 334-3334

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51 Wood Ave