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Opportunity meets scale at this fully occupied six unit brick apartment building in North Woonsocket, near the Massachusetts line and within reach of Providence and Greater Boston. Built in 1963, the property offers six spacious two bedroom, one bath residences across three levels, creating an attractive foundation for investors seeking immediate income with long term upside. Three units offer approximately 954 square feet each, while three larger units offer approximately 1, 079 square feet each. The building includes a common laundry room with washer and dryer, plus in unit laundry in three apartments. Tenants pay their own electric through seven individual meters. Lower level units feature radiant heat. Public water, public sewer, an updated fire alarm system, 11 parking spaces, and a 0. 29 acre lot add convenience and tenant appeal. With all six units occupied and current rents offering potential for future growth, this property presents an opportunity to improve income over time while maintaining an established tenant base. Nearby destinations include Landmark Medical Center, the Stadium Theatre, the Museum of Work and Culture, Chan's, riverfront dining, shopping, and major commuter routes. Providence is approximately 13 miles away, Boston approximately 40 miles away, and the Massachusetts border is just minutes away. A compelling six door investment for buyers seeking density, accessibility, and value.
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$950,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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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 | $760,000 | $760,000 | $760,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.000% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.086% | 6.183% |
| Monthly Tax Payment | $578 | $578 | $578 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $4,315 | $4,557 | $6,413 |
| Total Monthly Payment | $4,985 | $5,227 | $7,083 |
* 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.