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347 Grove Street, Woonsocket, RI 02895
$770,000
347 Grove Street, Woonsocket, RI 02895View this property at 347 Grove Street, Woonsocket, RI 02895
347 Grove StreetWoonsocketRI02895
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Property Description
Price just reduced to $849k! Don't miss this incredible investment opportunity in a very large, 7-unit residential building. Each unit features a spacious 3-bedroom layout, boasting approximately 1,100 sq ft of living space. Currently, the building generates a monthly income of $9,100, with a cap rate of over 8.25%. Long-term tenants provide stable rental income, and there is significant potential to further increase rents. The property offers a convenient coin-operated laundry room and ample off-street parking. Tenants pay their own utilities, maximizing returns. With updated electrical, plumbing, and heating systems, the building offers some modern functionality and efficiency. The fire alarm system is up to date and regularly tested. With a total of 7,913 sqft, these generously sized apartments present great rental potential. Take advantage of below market rents.
Full Property Details
Full Property Details for 347 Grove St
General
- Sold For: $770,000
- Taxes: $12,669 (2022)
- Status: Closed
- Type: Commercial Residential Facility
- MLS ID: 1338924
- Added to Site: 315 day(s) ago
Interior
- Furnishings: Unfurnished
Rooms
Other Rooms
- Laundry: Common Area, Laundry Room
Additional Information
- Security/Safety: Fire Alarm, Security Lights
Parking
- Total Spaces: 7
Location
- County: Providence
- Subdivision: BERNON
Community
- Units Assoc/Comm: 7
Heating & Cooling
- Cooling Type: None
- Heating Type: Forced Air, Hot Water, Space Heater
Utilities
- Sewer: Connected, Public Sewer
- Water: Connected, Public
- Cable Available: Yes
- Utility Description: Cable Available, Electricity Available, Natural Gas Available, Natural Gas Connected, Sewer Connected
Structural Information
- # Buildings: 1
- Structure Type: Apartment
- Detached/Attached: Attached
- Construction: Frame
- Basement: Yes
- Basement Desc.: Full
- Stories/Levels: 3
- Building Size: 7913
- Finished Total: 7,913 Sq. Ft.
- Finished Above Grnd: 7,913 Sq. Ft.
- Year Built: 1900
Unit Information
- Vacancy %: 3
Lot Features
- Lot Size (Sq. Ft.): 7,405
- Lot Size: 7405
- Frontage: City Street
Financial Considerations
- Tax Amount: $12,669
- Tax Year: 2022
- Owner Pays: Exterior Maintenance, Insurance, Janitorial Service, Repairs, Sewer, Taxes, Trash Collection, Water
- Tenant Pays: Electricity, Heat, Hot Water, Telephone
Disclosures and Reports
- Compensation Comments: COMMISSION BASED ON SELLING PRICE LESS ANY SELLER CREDITS
- Property ID: 347GROVESTWOON
- Lot Number: 247
Listed by American Homes & Commercial RE
Sold by Re/Max Advantage Group
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Schools
Schools serving 347 Grove St
School District:Woonsocket Schools
Rating | Name | Grades | Distance |
---|---|---|---|
777 Cass Ave, Woonsocket, RI 02895 | 9-12 | 1.3 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 347 Grove St
Date
Details
Price
Change
Source
11/21/2023
Sold
$770,000
-9.4%
MLS
8/29/2023
Price Reduced
$849,900
-5.56%
MLS
7/22/2023
Price Reduced
$899,900
-5.27%
MLS
7/06/2023
Listed
$950,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
347 Grove Street, Woonsocket, RI 02895 (MLS# 1338924) is a Commercial Residential Facility property that was sold at $770,000 on November 21, 2023. Want to learn more about 347 Grove Street? Do you have questions about finding other Commercial Residential Facility real estate for sale in Woonsocket? You can browse all Woonsocket real estate or contact a Coldwell Banker agent to request more information.