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Located in the heart of Providence's highly desirable East Side this legal 3-family offers the ideal opportunity for the savvy investor or owner occupant. This prime location offers walkability to the shops & restaurants in Wayland Square, and easy access to Universities, recreational activities, and Downtown Providence. Each of the 3 units contains 2 bedrooms and 1 full bathroom. All units have been thoughtfully upgraded, with newer kitchens & bathrooms, while retaining the historic charm and character of the 1930s era. The spacious first floor unit features an open floorplan, the sunroom opens directly into the living room and dining room, creating excellent flow. The kitchen is very large & well-appointed with wood cabinetry and newer appliances. The second-floor unit boasts a large family room and a quaint screened-in porch overlooking Cole Ave. Either of these first or second floor units would make an ideal owner-occupied dwelling. The top-level unit features a split-bedroom floorplan, an eat-in kitchen, and tons of natural light. Other notable perks: a two-car detached garage, a sizable back yard, replacement windows throughout, hardwired smoke & carbon dioxide detectors, and beautiful original hardwood floors in all 3 units. 117-119 Cole Ave presents a fantastic opportunity to acquire an immediate income producing asset with long-term appreciation potential.
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$995,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 860.625.5780
Brianna.Turgeon@raveis.com
NMLS Mortgage Loan Originator ID 2104486
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $796,000 | $796,000 | $796,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 6.125% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.117% | 6.235% | 6.058% |
| Monthly Tax Payment | $1,368 | $1,368 | $1,368 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $4,457 | $4,837 | $6,663 |
| Total Monthly Payment | $5,917 | $6,297 | $8,123 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.