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What You Can Buy in RI for About $800,000
Saturday, April 08, 2023The folks at Mott & Chace Sotheby’s International offer three diverse properties, from a remarkable mill building to two East Side homes.
At a time when the inventory of properties is at a record low level, the three properties offer to buyers a range of options for living or investing.
And, if you need to know the price of your home, CLICK HERE.
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61 Railroad Street | Woonsocket | $774,900
Listed by Joshua Deaner
Welcome to the Harris Warehouse. This exceptional 12,000-square-foot stand-alone stone building was built in 1855 by Edward Harris, a leading Woonsocket industrialist. It is listed on the National Register of Historic Places. The 3 1/2-story structure features rubble stone construction and a curved facade designed to match the layout of the railroad spur on which it was located. Currently, the owners occupy the entire fully renovated 2nd floor and have a workshop on the first floor. The owner’s loft is 3,000+ sq. ft. and features 12-foot wood ceilings, 2 bedrooms, 2 full baths, and in-unit laundry. The large renovated kitchen has an island w/ soapstone countertops & stainless appliances. The ground floor shop has 15’ ceilings w/ separate heat and garage door access. The 3rd floor, 4th floor loft, and lower level are an unfinished blank canvas which could make a great apartments/condo conversion or the ultimate live/workspace. The building sits on .67 acre of land w/ a side yard and ample parking spaces. The building sits in the Downtown Overlay District, nestled between Main Street and the historic North End. It is within walking distance of the downtown shops and restaurants, the Stadium Theater, Beacon Charter School, and the Blackstone River Bikeway. Current zoning allows 5 mixed-use units. Buyers are to perform all due diligence. This is a must-see for anyone looking for a unique live/work space, looking to open a commercial business, or property conversion.
466-468 Hope Street | Providence | $795,000
Listed by Ben Scungio
Welcome to 466 – 468 Hope Street a sprawling Victorian-style home with roomy units located in desirable Hope Village. One mile from Thayer Street and a short walk to Hope Village shops and restaurants. Directly across from Brown’s Ladd Observatory. Legal 2 unit with an additional studio and separate entrances to all units. Currently used as a STR with 10% cap rate. Taxes reflect investor rate.
155 Ivy Street | Providence | $829,000
Listed by The Blackstone Team
Welcome to 155-157 Ivy St. in the heart of Providence’s East Side. This stunning two-family property (currently operating as a three-family) has been fully renovated from the studs in. Inside, you’ll find each unit has been thoughtfully designed with new appliances, finishes, in-unit laundry, and modern amenities, making this beautiful turn-key multifamily perfect for an investor or owner-occupied situation. Parking for six cars, a cobblestone grill and patio area, and ample yard space make this an attractive option for local tenants. Located in a prime area, you’ll be a stone’s throw from Hope Village and Miriam Hospital. You’ll also be just a short distance from prestigious institutions like Brown University and RISD, as well as downtown Providence, providing easy access to all the city has to offer. The third floor remains unfinished, providing the potential to create a multi-floor townhouse by combining the 2nd and 3rd floors. This would greatly add to the future income potential of the home and/or would create a wonderful townhouse perfect for an owner-occupied resident. This gem of a property offers excellent income potential with a 7.9% cap rate and attractive NOI, making it an attractive option for savvy investors. Don’t miss your chance to own this stunning multi-family property in one of the most desirable locations in Providence.
This content is part of a paid sponsorship with Mott & Chace Sotheby’s International.
