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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.

More Info

Basic Information

  • Gross Income $133,080
  • Lot Features Level, Sloped
  • Mls StatusActive
  • Road Frontage DescriptionPaved

Tax Information

  • Tax Assessed Value $813,800
  • Tax Year 2025
  • Taxes$17,333

Parking

  • Open Parking YN Yes
  • Parking Features Paved Drive, Off Street, Tandem, Common, Paved
  • Parking Spaces13

Basic Information

  • List Price$1,185,000
  • MLS Number73508838
  • Modification Date05/02/2026
  • Property SubType5-9 Family

Location

  • Address51 Wood Avenue
  • Building Number51
  • CountyProvidence
  • StateRI
  • StreetWood Avenue
  • TownWoonsocket
  • Zip02895

Building

  • BasementFull, Interior Entry, Concrete, Unfinished
  • Building Area Units Square Feet
  • Construction Materials Frame
  • FoundationConcrete Perimeter, Stone, Irregular
  • Foundation Area 1974
  • Levels 5
  • Patio And Porch Features Porch, Enclosed
  • Rooms33
  • Stories5
  • Units8
  • Year Built1910
  • Year Built Details Approximate
  • Year Built Source Public Records

Property

  • Acreage0.2
  • Frontage Length 86

Exterior

  • RoofAsphalt/Composition Shingles

Utilities

  • Electric Circuit Breakers,150 Amp Service, Individually Metered
  • Sewer Public Sewer
  • Water Source Public

Property Information

  • Building Area Source Public Records
  • Living Area 6,300
  • Lot Size Square Feet 8,712
  • Lot Size Units Acres
  • Road Responsibility Public Maintained Road
  • Square Feet6,300

Amenities

  • Amenities
    • Highway Access
    • House of Worship
    • Laundromat
    • Medical Facility
    • Park
    • Private School
    • Public School
    • Public Transportation
    • Shopping
    • Sidewalks
    • T-Station
  • Other AmenitiesBasement

Legal

  • ZoningR4

Other

  • Date Listed04/29/2026
  • Farm Land Area Units Square Feet
  • View Count1

Map Location

Driving Directions

Listed by Donald Martone of BOND BROKERAGE

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