About 1373 Smith St
The subject is a 4,559 SF recovery house containing 11 bedrooms, 4 full bathrooms (1 is ADA accessible), a full kitchen, 2 common/dining areas, an office, and sunroom, with a service capacity of 24 beds. A $290,800 renovation was completed in 2024. Because of its location on a major route near Providence, the subject has central access to major linkages, interstate highways, public transportation, retail stores, services, and municipal facilities. The property is encumbered with a 20-year lease that began in August 2023, with a current payment of $145,800, as an expense to the operation, with a 9.00% cash on cash return to a potential buyer, which is significant in today's market and perfect for a 1031 buyer.
