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198 4th Avenue, Woonsocket, RI 02895
$525,000 Sale Pending
198 4th Avenue, Woonsocket, RI 02895View this property at 198 4th Avenue, Woonsocket, RI 02895
198 4th AvenueWoonsocketRI02895
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Property Description
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!
Full Property Details
Full Property Details for 198 4th Ave
General
- Price: $525,000
- Taxes: $8,760 (2024)
- Status: Pending
- Type: Apartment
- MLS ID: 1358860
- Updated: 5/21/2024
- Added to Site: 19 day(s) ago
Interior
- Number of Rooms: 19
- Interior Features: Tub Shower
- Fireplace(s): None
- Appliances: Gas Water Heater, Oven, Range, Refrigerator, Water Heater
- Flooring: Ceramic Tile, Hardwood, Vinyl
Rooms
Bathrooms
- Total Bathrooms: 4
- Full Bathrooms: 4
Bedrooms
- Total Bedrooms: 10
Other Rooms
- Laundry: In Unit
Additional Information
- Tennis: Yes
Exterior
- Exterior Features: Paved Driveway
Parking
- Total Spaces: 5
- Parking Features: No Garage
Location
- County: Providence
- Subdivision: Fairmount
- Near Highway: Yes
Heating & Cooling
- Cooling Type: None
- Heating Type: Gas, Hot Water
Utilities
- Sewer: Connected, Public Sewer
- Water: Connected, Public
- Utility Description: Sewer Connected
Structural Information
- # Buildings: 1
- Structure Type: Apartment
- Detached/Attached: Detached
- Construction: Drywall, Plaster, Wood Siding, Vinyl Siding
- Basement: Yes
- Basement Desc.: Exterior Entry, Full, Interior Entry, Unfinished
- Stories/Levels: 3
- Building Size: 6562
- Finished Total: 6,562 Sq. Ft.
- Finished Above Grnd: 6,562 Sq. Ft.
- Year Built: 1920
Lot Features
- Lot Size (Acres): 0.13
- Lot Size (Sq. Ft.): 5,663
- Lot Size: 5663
Financial Considerations
- Operating Expenses: $18,712
- Tax Amount: $8,760
- Tax Year: 2024
- Tenant Pays: Hot Water
Disclosures and Reports
- Compensation Comments: Net of closing cost concessions and repair credits
- Inclusions: Washers and Dryers and AC units belong to tenants Seller performing a 1031 exchange and is currently under contract for the replacement property with a closing date of June 20th. A June closing would be ideal if possible.
- Property ID: 1984THAVWOON
- Block: F
- Lot Number: 145
Listed by Peace of Mind Prop. Mgmt & R.E
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Schools
Schools serving 198 4th Ave
School District:Woonsocket Schools
Rating | Name | Grades | Distance |
---|---|---|---|
777 Cass Ave, Woonsocket, RI 02895 | 9-12 | 2.2 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 198 4th Ave
Date
Details
Price
Change
Source
5/15/2024
Listed
$525,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 198 4th Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$4,721
—
$337,700
—
2022
$4,721
21%
$337,700
105%
2021
$3,905
-1%
$164,400
—
2020
$3,946
—
$164,400
—
2018
$3,959
6%
$164,400
32%
2017
$3,738
-5%
$124,200
—
2016
$3,955
-13%
$124,200
—
2015
$4,543
-5%
$124,200
-7%
2014
$4,794
4%
$133,400
—
2013
$4,610
—
$133,400
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 198 4th Ave
198 4th Avenue, Woonsocket, RI 02895 (MLS# 1358860) is a Apartment property with 10 bedrooms and 4 full bathrooms. 198 4th Avenue is currently listed for $525,000 and was received on May 15, 2024. Want to learn more about 198 4th Avenue? Do you have questions about finding other Apartment real estate for sale in Woonsocket? You can browse all Woonsocket real estate or contact a Coldwell Banker agent to request more information.