About 51 Wood Ave
Exceptional opportunity to acquire a professionally managed 8-unit multifamily compound featuring two buildings on one lot: a 7-unit apartment building plus a detached single-family residence. Located in a strong Northern Rhode Island rental market, this asset offers immediate in-place cash flow with clear upside through lease-up and rent optimization. Stabilized gross annual income is projected at approximately $133,080. The main building includes six 2-bed/1-bath units and one 1-bed/1-bath unit, each offering efficient, rental-friendly layouts. The detached single-family home features 3 bedrooms and 1 bath, adding valuable income diversification. Significant capital improvements include updated roofs, improved parking and driveways, and numerous mechanical upgrades, making this a compelling value-add investment with strong long-term appreciation potential.
Features of 51 Wood Ave
| MLS® # | 73508838 |
|---|---|
| Price | $1,185,000 |
| Square Footage | 6,300 |
| Acres | 0.20 |
| Year Built | 1910 |
| Type | Residential Income |
| Sub-Type | 5-9 Family |
| Status | Active |
Community Information
| Address | 51 Wood Ave |
|---|---|
| City | Woonsocket |
| County | Providence |
| State | RI |
| Zip Code | 02895 |
Amenities
| Parking Spaces | 13 |
|---|---|
| Parking | Paved Drive, Off Street, Tandem, Common, Paved |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Fireplace | No |
|---|---|
| # of Stories | 5 |
| Stories | 5 |
Exterior
| Lot Description | Level, Sloped |
|---|---|
| Roof | Asphalt/Composition Shingles |
| Construction | Frame |
| Foundation | Concrete Perimeter, Stone, Irregular |
Additional Information
| Zoning | R4 |
|---|
Listing Details
| Agent | Donald Martone |
|---|---|
| Office | BOND BROKERAGE |