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
$1,115,000 Zestimate®
$188/sqft
$-- HOA
What's special
Efficient layoutsUpdated roofing systems
- 129 days |
- 242 |
- 10 |
Zillow last checked:
Listing updated:
Listed by:
Don Martone 401-954-0270,
Bond Brokerage
Source: StateWide MLS RI,MLS#: 1409850
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
$1,115,000
$1.06M - $1.17M
$1,421/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
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.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
- $--2 bd1 ba1k sqft51 Wood Ave #1R, Woonsocket, RI 02895Off Market
- $--2 bd1 ba-- sqft51 Wood Ave APT 3L, Woonsocket, RI 02895Off Market
- $--1 bd1 ba-- sqft51 Wood Ave #B, Woonsocket, RI 02895Off Market
- $--2 bd1 ba1k sqft51 Wood Ave APT 2R, Woonsocket, RI 02895Off Market
- $--2 bd1 ba1k sqft51 Wood Ave APT 3R, Woonsocket, RI 02895Off Market
- $450,9005 bd2 ba1.8k sqft39 Wood Ave, Woonsocket, RI 02895Off Market
- $--2 bd1 ba1k sqft39 Wood Ave FLOOR 2, Woonsocket, RI 02895Off Market
- $--3 bd1 ba1k sqft39 Wood Ave FLOOR 1, Woonsocket, RI 02895Off Market
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
Similar homes
- $1,100,00014 bd4 ba4.5k sqft49 Steuben St, Providence, RI 02909For Sale
MLS ID #1419470, Lauren Fortini, Century 21 Envoy. StateWide MLS RI - $875,00015 bd4 ba3.4k sqft110 Knight Ave, Attleboro, MA 02703For Sale
MLS ID #73562219, Roland Copeland, eXp Realty LLC. MLS PIN - $975,00013 bd7 ba5.1k sqft156-160 Bridgham St, Providence, RI 02909For Sale
MLS ID #1416382, Kyle Seyboth, Century 21 Limitless. StateWide MLS RI - $1,750,00016 bd9 ba8.5k sqft9 Melton Street, Pawtucket, RI 02860For Sale
MLS ID #1416377, John Slyman, New England Apartment Group. StateWide MLS RI - $749,90014 bd5 ba4.5k sqft5 Nickerson St, Pawtucket, RI 02860For SaleMLS ID #1416380, Raisa Gonzalez, Century 21 AllPoints Realty. StateWide MLS RI
- $780,00013 bd4 ba4k sqft156 Lincoln Ave, Central Falls, RI 02863For SaleMLS ID #1410078, Franshelly Tejeda, Cameron Prestige, LLC. StateWide MLS RI
