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198 Cross Street

Central Falls, RI 02863
  • $800,000
  • STATUS: Active
  • ON SITE: 2 Days
  • MLS #: 1361277
New On Site 2 Days Ago
UPDATED: 133 min ago
$800,000
  • 0
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,293
    SQFT
  • $151
    $/SQFT
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

Exceptional Investment Opportunity in the Heart of the City! Six Units on a Single Lot a true gem for savvy investors and entrepreneurs. This property features five meticulously maintained residential spaces, each offering two spacious bedrooms, freshly painted interiors, refinished flooring, modern bathrooms, and state-of-the-art Navient heating systems. Each unit has its own circuit breaker, ensuring individuality and convenience. A newly installed, fully coded fire alarm system underscores the commitment to safety, promising an impressive cap rate of 8.5%. A Fully Operational Bar adds significant value, generating over $56K in net income. This turnkey establishment has all the necessary licenses, a comprehensive inventory, stylish furniture, a television, and a robust security system. It's an ideal opportunity for starting a restaurant, bar, or lounge, with all essential equipment and furniture included. Prime Location This property is an investment hotspot. It's located close to downtown and has effortless access to I-95 and the Pawtucket/Central Falls Station. It's also conveniently located near Providence and Boston, making it highly accessible. This mixed-use building perfectly blends residential elegance with commercial opportunity, making it an attractive proposition for discerning investors. Don't miss out on this remarkable investment treasure! Rents are just low market; there is room to grow

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[Rhode Island Statewide MLS] logo

© 2024 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than John Krekorian | RE/MAX Flagship are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or John Krekorian | RE/MAX Flagship. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2024-06-13T21:38:02.14.
www.krekorianteam.com/homes/151534064
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198 Cross Street Central Falls, RI 02863

  • Price: $800,000
  • Status: Active
  • On Site: 2 Days
  • Updated: 133 min ago
  • MLS #: 1361277
0
Beds
0
Baths
0
½ Baths
0.11
Acres
5,293
SQFT
$151
$/SQFT
1900
Built
Neighborhood:
Central Falls Train Station
County:
Providence
Area:
Central Falls
Property Description
Exceptional Investment Opportunity in the Heart of the City! Six Units on a Single Lot a true gem for savvy investors and entrepreneurs. This property features five meticulously maintained residential spaces, each offering two spacious bedrooms, freshly painted interiors, refinished flooring, modern bathrooms, and state-of-the-art Navient heating systems. Each unit has its own circuit breaker, ensuring individuality and convenience. A newly installed, fully coded fire alarm system underscores the commitment to safety, promising an impressive cap rate of 8.5%. A Fully Operational Bar adds significant value, generating over $56K in net income. This turnkey establishment has all the necessary licenses, a comprehensive inventory, stylish furniture, a television, and a robust security system. It's an ideal opportunity for starting a restaurant, bar, or lounge, with all essential equipment and furniture included. Prime Location This property is an investment hotspot. It's located close to downtown and has effortless access to I-95 and the Pawtucket/Central Falls Station. It's also conveniently located near Providence and Boston, making it highly accessible. This mixed-use building perfectly blends residential elegance with commercial opportunity, making it an attractive proposition for discerning investors. Don't miss out on this remarkable investment treasure! Rents are just low market; there is room to grow
Exterior Features

Construction Materials Frame Foundation Details Stone Frontage Length 50 Levels Three Or More Parking Total 0

Interior Features

Basement Full Basement YN Yes Furnished Unfurnished Heating Forced Air Gas Hot Water Heating YN Yes

Property Features

Business Type Bar Tavern Lounge Mixed Community Features Highway Access Near Hospital Near Schools Public Transportation Recreation Area Restaurant Shopping High Traffic Location Street Lights Sidewalks Human Modified YN Yes Land Lease YN No New Construction YN No Possible Use Multi Family Mixed Use Property Sub Type Commercial Road Surface Type Asphalt Concrete Paved Security Features Security System Owned Fire Alarm Smoke Detectors Building Security Security Service Sewer Connected Public Sewer Tax Annual Amount 5216 Tax Assessed Value 261500 Tax Lot 310 Tax Year 2022 Utilities Cable Available Electricity Available Natural Gas Available Natural Gas Connected Sewer Connected Water Source Connected Public Zoning M-1

[Rhode Island Statewide MLS] logo Listing information © 2024 State-Wide Multiple Listing Service.
Listing provided courtesy of Coldwell Banker Realty: .



[Rhode Island Statewide MLS] logo

© 2024 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than John Krekorian | RE/MAX Flagship are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or John Krekorian | RE/MAX Flagship. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2024-06-13T21:38:02.14.
 
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John Krekorian | RE/MAX Flagship
140 Point Judith Road #23
Narragansett RI, 02882