An exceptional opportunity to acquire a professionally managed, multifamily investment consisting of two buildings on one lot—a seven-unit apartment building and a detached single-family residence—totaling eight units in one of Northern Rhode Island’s most consistent cash-flow markets. The property offers a clear path to increased revenue through lease-up and rent optimization. Upon stabilization, the asset is projected to achieve approximately:$133,080 in Annual Gross Income. This offering presents a rare blend of in-place income and clear operational upside, making it well-suited for investors seeking both immediate yield and long-term value creation. The primary structure features six (6) two-bedroom, one-bath units and one (1) one-bedroom, one-bath unit, each approximately 800+ sf, offering efficient layouts and strong rental appeal. The secondary structure is a separate single-family residence comprising three (3) bedrooms and one (1) bathroom, totaling just under 1000 sf, providing additional income diversification within the asset. The property has been well maintained with continued capital investment, including: Updated roofing systems Improved driveway and parking areas Numerous mechanical upgrades throughout
For sale
$1,185,000
51 Wood Ave, Woonsocket, RI 02895
16beds
6,300sqft
Multi Family
Built in 1910
-- sqft lot
$1,137,500 Zestimate®
$188/sqft
$-- HOA
What's special
Efficient layoutsUpdated roofing systems
- 79 days |
- 374 |
- 23 |
Zillow last checked:
Listing updated:
Listed by:
Don Martone 401-954-0270,
Bond Brokerage
Source: StateWide MLS RI,MLS#: 1409850
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 16
- Bathrooms: 8
- Full bathrooms: 8
Heating
- Natural Gas, Gas Connected, Gas on Gas
Cooling
- None
Appliances
- Included: Electric Water Heater, Gas Water Heater
Features
- Plumbing (Mixed)
- Flooring: Ceramic Tile, Hardwood, Laminate, Other, Carpet
- Windows: Insulated Windows
- Basement: Full,Interior and Exterior,Partially Finished,Bath/Stubbed,Bedroom(s),Laundry,Utility
- Has fireplace: No
Interior area
- Total structure area: 9,820
- Total interior livable area: 6,300 sqft
Video & virtual tour
Property
Parking
- Total spaces: 13
- Parking features: No Garage
Features
- Stories: 2
- Patio & porch: Porch
Lot
- Size: 8,712 Square Feet
Details
- Additional structures: Guest House
- Foundation area: 1974
- Zoning: R4
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Vinyl Siding
- Foundation: Mixed
Condition
- New construction: No
- Year built: 1910
Utilities & green energy
- Electric: 150 Amp Service
- Utilities for property: Sewer Connected, Water Connected
Community & HOA
Community
- Features: Near Public Transport, Commuter Bus, Highway Access, Hospital, Interstate, Private School, Public School, Railroad, Recreational Facilities, Restaurants, Schools, Near Shopping
HOA
- Has HOA: No
Location
- Region: Woonsocket
Financial & listing details
- Price per square foot: $188/sqft
- Annual tax amount: $17,333
- Date on market: 4/13/2026
- Inclusions: 51 Wood Avenue Woonsocket, RI 02895 - This property is under a RUBS system, the tenants pay for all utilities (gas, electric, water, sewer, and trash). Property Management Company receives the bills and charges the residents using an allocation formula. The addendums are included in each lease.
- Total actual rent: 11090
- Tenant pays: Heat
Estimated market value
$1,137,500
$1.08M - $1.19M
$1,608/mo
Price history
| Date | Event | Price |
|---|---|---|
| 4/13/2026 | Listed for sale | $1,185,000$188/sqft |
Source:  StateWide MLS RI #1409850 Report a problem | ||
| 3/30/2025 | Listing removed | $2,250 |
Source: Zillow Rentals Report a problem | ||
| 2/19/2025 | Listed for rent | $2,250 |
Source: Zillow Rentals Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Climate risks
Neighborhood: East Woonsocket
Nearby schools
GreatSchools rating
- 3/10Pothier-Citizens Elementary CampusGrades: PK-5Distance: 0.5 mi
- 3/10Woonsocket Middle at HamletGrades: 6-8Distance: 0.2 mi
- 3/10Woonsocket High SchoolGrades: 9-12Distance: 0.6 mi
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