341 Burnside Avenue Woonsocket, Rhode Island
Listed By Smith And Oak Real Estate Co.
The Multi Family Home for Sale located at Woonsocket, Rhode Island is currently for sale. Woonsocket, Rhode Island is listed for $1,399,900. This property has 18 bedrooms, 6 bathrooms, Total Parking, Detached Garage features. If the property located at Woonsocket, Rhode Island isn't what you're looking for, visit https://www.rilivingglobal.com to see other Multi Family Homes for Sale in Woonsocket .
Date Updated : Mar 15, 2025
MLS#: 1379537
$1,399,900 USD
- TypeMulti Family Home
- Bedrooms18
- Bathrooms6
Property features
Key features
- Total Parking
- Detached Garage
Construction details
- Year built: 1900
Other features
- Property features: Garage
- Appliances: Gas Water Heater Oven / Range Washer Refrigerator Dryer Dishwasher
- Heating system: Baseboard Natural Gas Space Heater Gas
- Garages: 6
Area
- Land/Lot size: 11,531ft²
- Bedrooms: 18
- Bathrooms: 6
- Total rooms: 24
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 $300K worth of inventory, and 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 if not owner-operated. PROFORMA CAP RATE only using potential rental income + accounting for selling $300K worth of inventory: 9.25%-11.74%. Showings by appointment only.
Location
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