Betsy Doolan - HK Realty Logo
$1,185,000
 $6,361 est/mo Sourced by Back At You

51 Wood Ave,Woonsocket, RI 02895

Woonsocket, RI 02895

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Description

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.

Details

MLS #73508838
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusPending
Year1910
Days On Site197
Listing Provided ByBOND BROKERAGE | Donald Martone

Features

SQ Feet6,300
BasementY
Story(s)5
Units8
ZoningR4
Acreage0.20

Interior

Rooms Total33
Fireplaces Total0
Fireplace Yes / NoNo

Exterior

RoofAsphalt/Composition Shingles
Construction MaterialsFrame
Foundation DetailsConcrete Perimeter, Stone, Irregular
Lot FeaturesLevel, Sloped

Parking

Garage Yes / NoNo
Parking FeaturesPaved Drive, Off Street, Tandem, Common, Paved
Open Parking Yes / NoYes

Utilities

SewerPublic Sewer
ElectricCircuit Breakers, 150 Amp Service, Individually Metered

Taxes

Tax Annual Amount17333
Tax Assessed Value813800
Tax Lot167
Tax Year2025
Tax Map Number37

Location

Community FeaturesPublic Transportation, Shopping, Park, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T-Station, Sidewalks
Senior Community Yes / NoNo

Area Information

StateRI
CountyProvidence
CityWoonsocket
Zip Code02895
AreaProvidence
Listing VS Median (in 02895)
Price:
$1,185,000
low | high
Med:
$534,900
100% of Average
sqft:
6,300
low | high
Med:
3,860
88.730158730159% of Average
$ / sqft:
$188
low | high
Med:
$189
49.43936911801% of Average
On site:
197
low | high
Med:
28
100% of Average
Sourced by Back At You

Market Activity 02895

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Learn More About This Property

Betsy Doolan

Betsy Doolan

HK Realty

009993 (603) 234-8264betsy.doolan@h-krealty.com
StateRI
CountyProvidence
CityWoonsocket
Zip Code02895
AreaProvidence
Listing VS Median (in 02895)
Price:
$1,185,000
low | high
Med:
$534,900
100% of Average
sqft:
6,300
low | high
Med:
3,860
88.730158730159% of Average
$ / sqft:
$188
low | high
Med:
$189
49.43936911801% of Average
On site:
197
low | high
Med:
28
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $888K - $1.481M
sqft: 4,500 - 7,500
Nearby Listings Property ImageNearby Listings Details
214 Burnside Property Photo 1
$995,000
214 Burnside
Woonsocket, RI 02895
Listing Updated: November 5, 2026 at 5:45:57 PM PST

Betsy Doolan - HK Realty