$730,000
SOLD AUG 29, 2025

242 4th Ave Woonsocket, RI 02895

Fairmount Neighborhood
12 Beds
6 Baths
9,384 Sq Ft
5,663 Sq Ft Lot

Recently Sold

$78 Per Sq Ft

4% Above List Price

8 Days on Market

Highlights

  • Wood Flooring
  • Bathtub with Shower
  • Storage Room
  • Tennis Courts
  • Laundry Room
  • Public Transportation

About This Home

As of August 2025

A jewel for your portfolio! This turnkey 5-unit building offers immediate cash flow with major upside potential. The spacious layout includes one oversized 4-bed, 2-bath unit and four 2-bed, 1-bath units each with separate tenant-paid gas and electric. The full 4th floor, currently vacant, includes 4 rooms and common space that a savvy investor may convert into additional rental income. Exterior and common areas have been freshly painted. Off-street parking for all units, ample street parking, and money-making coin-op laundry add to the appeal. Current rents are well below market value, providing strong growth potential. All tenants are month-to-month except one, offering flexibility for future rent adjustments or renovations. A rare opportunity to secure a high-performing asset with untapped value in today's market! This is a Commercial Property 5+ unit. (FHA, VA, RI HOUSING OR ANY OTHER OWNER OCCUPIED FINANCING DOES NOT QUALIFY- CONTACT YOUR LENDER ABOUT COMMERCIAL FINANCING)

Last Agent to Sell the Property

The DiSpirito Team

Engel & Volkers Oceanside Listed on: 05/28/2025

Engel & Volkers Oceanside

Last Buyer's Agent

Camila Oliveira

Real Broker, LLC License #RES.0043818

Real Broker, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,152

Year Built

  • Built in 1930

Home Design

  • Stone Foundation
  • Shingle Siding
  • Vinyl Siding

Interior Spaces

  • 9,384 Sq Ft Home
  • 3-Story Property
  • Storage Room
  • Laundry Room
  • Utility Room

Kitchen

  • Oven
  • Range

Flooring

  • Wood
  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 6 Full Bathrooms
  • Bathtub with Shower

Unfinished Basement

  • Basement Fills Entire Space Under The House
  • Interior Basement Entry

Parking

  • 5 Parking Spaces
  • No Garage
  • Driveway

Utilities

  • No Cooling
  • Heating System Uses Gas
  • Hot Water Heating System
  • Heating System Uses Steam
  • 100 Amp Service
  • Gas Water Heater

Additional Features

  • 5,663 Sq Ft Lot
  • Property near a hospital

Listing and Financial Details

  • Legal Lot and Block 142 / 15
  • Assessor Parcel Number 2424THAVWOON

Community Details

Overview

  • 4 Units
  • Fairmount Subdivision

Amenities

  • Shops
  • Restaurant
  • Public Transportation

Recreation

  • Tennis Courts
  • Recreation Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,152

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.13
  • Subdivision Name: Fairmount
  • Above Grade Finished Sq Ft: 9384.0
  • Garage Yn: No
  • New Construction: No
  • Year Built: 1930
  • Special Features: VirtualTour

Interior Features

  • Number Of Buildings: 1
  • Appliances: Gas Water Heater, Oven, Range, Refrigerator
  • Has Basement: Full, Interior Entry, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 6
  • Total Bedrooms: 12
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Carpet, Hardwood, Vinyl
  • Interior Amenities: Interior Steps, Tub Shower
  • Dining Room Type: Laundry, Storage Room, Utility Room
  • Stories: 3

Exterior Features

  • Construction Type: Drywall, Shingle Siding, Vinyl Siding
  • Exterior Features: Paved Driveway
  • Foundation Details: Stone

Garage/Parking

  • Parking Features: No Garage
  • Total Parking Spaces: 5.0

Utilities

  • Laundry Features: Common Area
  • Cooling: None
  • Cooling Y N: No
  • Heating: Gas, Hot Water, Steam
  • Heating Yn: Yes
  • Electric: 100 Amp Service, SeparateMeters
  • Sewer: Connected
  • Utilities: Sewer Connected
  • Water Source: Connected

Condo/Co-op/Association

  • Community Features: Highway Access, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s)
  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 5663.0
  • Parcel #: 2424THAVWOON
  • Zoning: R4

Multi Family

  • Number Of Units Total: 4

Tax Info

  • Tax Annual Amount: 6152.0
  • Tax Block: 15
  • Tax Lot: 142
  • Tax Year: 2024

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/29/2025 08/29/25 Sold $730,000 +4.3% $78 / Sq Ft
06/05/2025 06/05/25 Pending -- -- --
05/28/2025 05/28/25 For Sale $699,900 -- $75 / Sq Ft
Source: State-Wide MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • The DiSpirito Team

    Seller's Agent in 2025

    The DiSpirito Team

    Engel & Volkers Oceanside

    (401) 244-8355

    3 in this area

    476 Total Sales

    The DiSpirito Team
    Section Image
  • Camila Oliveira

    Buyer's Agent in 2025

    Camila Oliveira

    Real Broker, LLC

    (617) 869-0942

    1 in this area

    36 Total Sales

    Camila Oliveira
    Section Image
See All Agents

Map

Source: State-Wide MLS

MLS Number: 1385858

State-Wide MLS
Rhode Island Providence County Woonsocket 02895 Fairmount

242 4th Ave, Woonsocket, RI

Sold

MultiFamily

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