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503 Manville Rd
Woonsocket, RI 02895
Multifamily Property For Sale
·
5 Units
Investment Highlights
- Great Location, Borderline Lincoln, RI
- Coin-Op Laundry in Basement
- Young Roof - 5 Years Old
Executive Summary
Fantastic FIVE UNIT Investment or Owner-Occupant Opportunity located in a prime area bordering Lincoln line! Proudly owned by the same owner for 40 years. Don’t miss this well-maintained 5-unit multifamily. YES, FIVE UNITS!! This property offers immediate cash flow with total of 7 bedrooms and 5 bathrooms. 4 units currently leased and 1 vacant, perfect for an owner-occupant or investor looking to add value. Highlights include: Firecoded & Lead Certificate in place. Two 2-bedroom units and three 1-bedroom units. Separate utilities and ample parking for all tenants. Young roof (approximately 5 years old). Exterior in excellent condition. Basement storage and on-site laundry for tenant convenience. This property combines stability with upside potential. Current rents are well below market, offering strong future growth. All tenants are month-to-month, with long-term rental history ranging from 5 to 25 years. A solid investment with room to grow!
Property Facts Under Contract
| Price Per Unit | $105,800 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 10.14% | Building Size | 6,883 SF |
| No. Units | 5 | Average Occupancy | 80% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1921 |
| Apartment Style | Low-Rise | Parking Ratio | 0.44/1,000 SF |
| Zoning | C - Commercial | ||
| Price Per Unit | $105,800 |
| Sale Type | Investment |
| Cap Rate | 10.14% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 6,883 SF |
| Average Occupancy | 80% |
| No. Stories | 3 |
| Year Built | 1921 |
| Parking Ratio | 0.44/1,000 SF |
| Zoning | C - Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Skylights
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1 | 2 | - | - |
Property Taxes
| Parcel Number | WOON-000029H-000222-000007 | Improvements Assessment | $366,000 |
| Land Assessment | $91,400 | Total Assessment | $457,400 |
Property Taxes
Parcel Number
WOON-000029H-000222-000007
Land Assessment
$91,400
Improvements Assessment
$366,000
Total Assessment
$457,400
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