242 4th Avenue, Woonsocket, RI 02895 - Photo 1

1/1

$730,000

Sold
Closed
Commercial

1/1

Property Description

A jewel for your portfolio! This turnkey 5-unit building offers immediate cash flow with major upside potential. The spacious layout includes one oversized 4-bed, 2-bath unit and four 2-bed, 1-bath units each with separate tenant-paid gas and electric. The full 4th floor, currently vacant, includes 4 rooms and common space that a savvy investor may convert into additional rental income. Exterior and common areas have been freshly painted. Off-street parking for all units, ample street parking, and money-making coin-op laundry add to the appeal. Current rents are well below market value, providing strong growth potential. All tenants are month-to-month except one, offering flexibility for future rent adjustments or renovations. A rare opportunity to secure a high-performing asset with untapped value in today's market!

Full Property Details

Full Property Details for 242 4th Ave

General

Sold For: $730,000
Taxes: $11,415 (2024)
Status: Closed
Type: Commercial
Source: STWMLS
MLS ID: 1385859
Added to Site: 233 day(s) ago

Rooms

Other Rooms

Laundry: Common Area

Additional Information

Tennis: Yes
Security/Safety: Carbon Monoxide Detector(s), Fire Alarm, Smoke Detector(s)

Parking

Total Spaces: 5

Location

County: Providence
Subdivision: Fairmount
Near Highway: Yes

Community

Units Assoc/Comm: 5

Heating & Cooling

Cooling Type: None
Heating Type: Gas, Steam

Utilities

Sewer: Connected, Public Sewer
Water: Connected, Public
Utility Description: Electricity Available, Natural Gas Connected, Municipal Utilities, Water Connected, Sewer Connected

Structural Information

# Buildings: 1
Detached/Attached: Attached
Basement: Yes
Basement Desc.: Full
Stories/Levels: 3
Year Built: 1930

Lot Features

Lot Size (Sq. Ft.): 5,663
Lot Size: 5663
Frontage: City Street, Paved
Potential Use: Residential

Financial Considerations

Operating Expenses: $22,530
Tax Amount: $11,415
Tax Year: 2024
Owner Pays: Grounds Care, Repairs, Water
Tenant Pays: Electricity, Heat

Disclosures and Reports

Property ID: 2424THAVWOON
Block: 15
Lot Number: 142

Listed by Engel & Volkers
Sold by Real Broker, LLC

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— 242 4th Ave —

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Schools

Schools serving 242 4th Ave

School District:Woonsocket School District

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 242 4th Ave

Date

Details

Price

Change

Source

8/27/2025

Sold

$730,000

4.3%

MLS

5/28/2025

Listed

$699,900

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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242 4th Ave, Woonsocket, RI 02895 - Photo 1

Sold

$730,000