Presenting an exceptional opportunity for astute investors, this dependable four-unit property stands as a testament to reliability and profitability. Boasting a track record of exceptional performance under its current owner, this building is a cornerstone of stability. Key to its success are the on time, paying tenants who occupy its units, alongside a prestigious anchor tenant on the coveted first floor. This ensures a hassle-free ownership experience, with minimal maintenance costs & unparalleled peace of mind. Featuring a sought-after configuration of two 3-bedroom units, and two 2-bedroom units, alongside an impressive nearly 7% cap rate, this property promises sustained occupancy and robust positive cash flow. Recent upgrades, including the replacement of all four hot water heaters, updated fire alarm panel, removal of visible knob and tube wiring, repainting of the main hallway and porches, underscore this property as a solid investment. While offering immediate returns, there also exists untapped potential for further enhancement, presenting savvy investors or owner occupants with opportunities to maximize value. Additionally, the presence of five rear parking spaces complemented by ample street parking ensures convenience and tenant retention for the long term. Check out the 360 tour and be sure to attend one of the three open houses this weekend!
Sold for $550,000 on 06/27/24
$550,000
198 4th Ave, Woonsocket, RI 02895
10beds
4,149sqft
Multi Family
Built in 1920
-- sqft lot
$582,200 Zestimate®
$133/sqft
$2,053 Estimated rent
Home value
$582,200
$512,000 - $658,000
$2,053/mo
Zestimate® history
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Owner options
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What's special
Zillow last checked: 8 hours ago
Listing updated: June 28, 2024 at 01:47pm
Listed by:
Stacy Corrigan 401-829-8323,
Peace Of Mind Prop. Mgmt & R.E
Bought with:
Stacy Corrigan, REB.0016898
Peace Of Mind Prop. Mgmt & R.E
Source: StateWide MLS RI,MLS#: 1358860
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 4
- Full bathrooms: 4
Bathroom
- Features: Bath w Tub & Shower
Heating
- Natural Gas, Forced Water
Cooling
- None
Appliances
- Included: Gas Water Heater, Oven/Range, Refrigerator
- Laundry: In Unit, Off Site
Features
- Wall (Cermaic), Wall (Dry Wall), Wall (Paneled), Wall (Plaster), Wall (Wood), Stairs, Plumbing (Copper), Plumbing (Mixed), Plumbing (PVC), Insulation (Unknown), Ceiling Fan(s)
- Flooring: Ceramic Tile, Hardwood, Vinyl
- Basement: Full,Interior and Exterior,Unfinished,Storage Space,Utility,Work Shop
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 6,562
- Total interior livable area: 4,149 sqft
Property
Parking
- Total spaces: 5
- Parking features: No Garage, Driveway
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: Flat Thresholds
Features
- Stories: 3
Lot
- Size: 5,662 sqft
Details
- Parcel number: WOONM6FL145U5
- Zoning: R4
- Special conditions: Conventional/Market Value
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Ceramic, Dry Wall, Paneled, Plaster, Wood Wall(s), Vinyl Siding
- Foundation: Stone
Condition
- New construction: No
- Year built: 1920
Utilities & green energy
- Electric: 100 Amp Service, 110 Volts, 220 Volts, Circuit Breakers, Common Meter, Individual Meter
- Sewer: Public Sewer
- Water: Municipal
- Utilities for property: Sewer Connected, Water Connected
Community & neighborhood
Community
- Community features: Near Public Transport, Commuter Bus, Golf, Highway Access, Hospital, Interstate, Private School, Public School, Railroad, Recreational Facilities, Restaurants, Schools, Near Shopping, Near Swimming, Tennis
Location
- Region: Woonsocket
- Subdivision: Fairmount
HOA & financial
Other financial information
- Total actual rent: 4560
Price history
| Date | Event | Price |
|---|---|---|
| 6/27/2024 | Sold | $550,000+4.8%$133/sqft |
Source:  StateWide MLS RI #1358860 | ||
| 5/21/2024 | Pending sale | $525,000$127/sqft |
Source: StateWide MLS RI #1358860 | ||
| 5/15/2024 | Listed for sale | $525,000+230.2%$127/sqft |
Source: StateWide MLS RI #1358860 | ||
| 4/5/2015 | Listing removed | $159,000$38/sqft |
Source: Green Island Realty, Inc. #1087517 | ||
| 3/10/2015 | Price change | $159,000-5.9%$38/sqft |
Source: Green Island Realty, Inc. #1087517 | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,910 | $337,700 |
| 2024 | $4,910 +4% | $337,700 |
| 2023 | $4,721 | $337,700 |
Find assessor info on the county website
Neighborhood: Fairmount
Nearby schools
GreatSchools rating
- 2/10Kevin K. Coleman SchoolGrades: K-5Distance: 0.2 mi
- 3/10Woonsocket Middle @ Villa NovaGrades: 6-8Distance: 1.4 mi
- NAWoonsocket Career An Tech CenterGrades: 9-12Distance: 2.2 mi
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Sell for more on Zillow
Get a free Zillow Showcase℠ listing and you could sell for .
$582,200
2% more+ $11,644
With Zillow Showcase(estimated)
$593,844