1350 Elmwood AveCranston, RI 02910

Property Details for 1350 Elmwood Ave

Year built

1894

Lot size

0.27 AC

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a well-maintained five-unit residential multifamily property situated at 1350 Elmwood Avenue in Cranston, Rhode Island. The property sits on a 0.27-acre lot and is offered at $729,900. The building boasts newer heating systems, ensuring efficient and cost-effective operation. A significant advantage is the six garages included, generating supplemental income streams for the owner. Ten off-street parking spaces provide ample parking for residents and visitors, a valuable amenity in a densely populated area. Each of the five units is currently occupied, with tenants responsible for their own utilities, minimizing the owner's operational responsibilities. This turnkey investment offers a strong potential for both immediate and long-term returns. The property's solid construction, desirable location, and income-generating features make it an attractive proposition for savvy investors seeking a stable and profitable addition to their portfolio. The combination of residential rental income and garage rental income provides a diversified revenue stream, mitigating risk and enhancing overall profitability. This is a rare opportunity to acquire a well-maintained, income-producing multifamily property in a thriving Rhode Island community. Serious inquiries are encouraged.

Location Insight

City

Cranston

County

Providence

State

Rhode Island

Latitude

41.7735

Longitude

-71.4223

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