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Fantastic rare true value-add opportunity in an ideal location next to downtown, the stadium theatre, breweries and loads of other downtown amenities. Total of 9 units (6 residential, 3 commercial) spread across 4 buildings on one lot. Property gross rents after renovations estimated at $100,800 per year (see attached profit and loss). 69 N Main has one storefront (vacant) most recently leased as cell phone retailer, cleaned and ready for renovation. 69 also has 2 residential units currently occupied. 53 N Main is 4 total units (1 commercial and 3 residential). The 1st floor commercial space is a former restaurant/bar currently rented for kitchen use only (no inside dining). 2 of the 3 residential units in this building are currently occupied. Vacant unit in this building is a townhouse style 2 bed with the 2 beds on third floor, living space on 2nd floor. This unit is mostly prepped (gutted), ready for rehab. Finally a standalone cottage residential unit in rear of lot is a 3 bed, 1 bath which will be cleaned out prior to sale and ready for you to rehab. This property boasts off-street parking for at least 5 cars plus free parking access at the adjacent municipal lot which abutts this property. Landlord pays heat and electric for all units except the barber shop. Newer roofs on all 4 buildings. This is a 6-figure estimated rehab so serious buyers only. Seller financing is NOT available. Money from HUD rehab grant programs (attached to listing) may help.

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Listed by Premier Prop RI - Marc & Sarah Santos of Keller Williams Realty NRI

 

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