$630,000
SOLD OCT 22, 2022

33 Ocean Ave Unit 2 New Shoreham, RI 02807

-- Bed
1 Bath
1,100 Sq Ft
$650/mo HOA Fee

Recently Sold

$573 Per Sq Ft

20% Below List Price

63 Days on Market

Highlights

  • Marina
  • Walking Distance to Water
  • Restaurant
  • Water Views
  • Bathtub with Shower
  • Heating System Uses Steam

About This Home

As of October 2022

The Albion Unit #2, permitted to be used as either Commercial or residential. Currently the home of The Cracked Mug cafe, this 1,100 sq. Ft. condominium may also be converted into a residential unit! Run your business in a fabulous downtown location or enjoy this space as a private home. Large, private deck for watching the activities on the street below or long summer sunsets. Includes 2 designated parking spaces. Current lessee will vacate with 30 day notice. Shown by appointment.

Last Agent to Sell the Property

Robin Vila

Ballard Hall Sales Group License #REB.0018194 Listed on: 07/14/2022

Last Buyer's Agent

Rosemary Tobin

Lila Delman Compass License #RES.0028817

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $2,748

Year Built

  • Built in 1954

HOA Fees

  • $650 Monthly HOA Fees

Home Design

  • Slab Foundation
  • Shingle Siding

Interior Spaces

  • 1,100 Sq Ft Home
  • 3-Story Property
  • Water Views

Flooring

  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • 1 Full Bathroom
  • Bathtub with Shower

Parking

  • 2 Parking Spaces
  • No Garage
  • Assigned Parking

Outdoor Features

  • Walking Distance to Water

Utilities

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

Listing and Financial Details

  • Tax Lot 3-2
  • Assessor Parcel Number 33OCEANAV2NSHM

Community Details

Overview

  • Association fees include ground maintenance, parking, snow removal
  • 5 Units
  • Old Harbor Subdivision

Amenities

  • Restaurant

Recreation

  • Marina

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$2,748

Year Built

Built in 1954

Lot Details

0

HOA Fees

$650 per month

Listing Details

  • Property Sub Type: Condominium
  • Prop. Type: Residential
  • Subdivision Name: Old Harbor
  • Above Grade Finished Sq Ft: 1100.0
  • Building Name: Albion Condo
  • Entry Level: 2
  • Garage Yn: No
  • Unit Levels: One, Three Or More
  • New Construction: No
  • Building Stories: 3
  • Year Built: 1954
  • Property Sub Type Additional: Condominium
  • Special Features: VirtualTour
  • Stories: 3

Interior Features

  • Appliances: Gas Water Heater
  • Has Basement: None
  • Basement YN: No
  • Full Bathrooms: 1
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Laminate, Vinyl
  • Interior Amenities: Tub Shower
  • Living Area: 1100.0
  • Stories: 3
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • View: Saltwater, Water
  • View: Yes
  • Waterfront Features: Walk to Water
  • Construction Type: Drywall, Shingle Siding
  • Foundation Details: Slab

Garage/Parking

  • Parking Features: Assigned, No Garage
  • Total Parking Spaces: 2.0

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: Hot Water, Propane
  • Heating Yn: Yes
  • Electric: 100 Amp Service
  • Sewer: Public Sewer
  • Water Source: Multiple Meters

Condo/Co-op/Association

  • Community Features: Marina, Restaurant
  • Senior Community: No
  • Amenities: Restaurant
  • Association Fee: 650.0
  • Association Fee Frequency: Monthly
  • Pets Allowed: No Pet Restrictions, Yes
  • Common Interest: Condominium

Fee Information

  • Association Fee Includes: Maintenance Grounds, Parking, Snow Removal

Lot Info

  • Parcel #: 33OCEANAV2NSHM
  • Zoning: SC
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Number Of Units In Community: 5

Tax Info

  • Tax Annual Amount: 2748.0
  • Tax Lot: 3-2
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 14, 2022
Closed on
Oct 20, 2022
Sold by
33 2 Ocean Ave Llc
Bought by
33 Ocean Ave Llc
Seller's Agent
Robin Vila
Ballard Hall Sales Group
Buyer's Agent
Rosemary Tobin
Lila Delman Compass
List Price
$785,000
Sold Price
$630,000
Premium/Discount to List
-$155,000
-19.75%
Views
19

Purchase Details

Listed on
Jan 13, 2017
Closed on
Feb 10, 2020
Sold by
Gaffett Lewis H Est and Gaffett
Bought by
33-2 Ocean Ave Llc
Seller's Agent
Jennifer Phillips
Phillips Real Estate
Buyer's Agent
Robin Vila
Ballard Hall Sales Group
List Price
$679,000
Sold Price
$302,500
Premium/Discount to List
-$376,500
-55.45%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
31.22%
Original Mortgage
$242,000
Interest Rate
3.74%
Mortgage Type
Commercial
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $630,000 None Available
Executors Deed $302,500 None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $242,000 Commercial
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/22/2022 10/22/22 Sold $630,000 -19.7% $573 / Sq Ft
09/15/2022 09/15/22 Pending -- -- --
07/14/2022 07/14/22 For Sale $785,000 +159.5% $714 / Sq Ft
02/11/2020 02/11/20 Sold $302,500 -55.4% $275 / Sq Ft
01/12/2020 01/12/20 Pending -- -- --
01/13/2017 01/13/17 For Sale $679,000 -- $617 / Sq Ft
Source: State-Wide MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $3,165 $573,300 $0 $573,300
2023 $3,451 $573,300 $0 $573,300
2022 $2,904 $410,160 $0 $410,160
2021 $2,748 $410,160 $0 $410,160
2020 $2,609 $410,160 $0 $410,160
2019 $2,527 $410,160 $0 $410,160
2018 $2,384 $400,720 $0 $400,720
2017 $2,348 $400,720 $0 $400,720
2016 $2,292 $400,720 $0 $400,720
2015 $2,368 $429,700 $0 $429,700
2014 $2,295 $429,700 $0 $429,700
2013 $2,239 $429,700 $0 $429,700
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2022

    Robin Vila

    Ballard Hall Sales Group

    (401) 465-7986

    24 Total Sales

    Robin Vila
    Section Image
  • Rosemary Tobin

    Buyer's Agent in 2022

    Rosemary Tobin

    Lila Delman Compass

    (401) 741-1825

    60 Total Sales

    Rosemary Tobin
    Section Image
  • Jennifer Phillips

    Seller's Agent in 2020

    Jennifer Phillips

    Phillips Real Estate

    (401) 466-8806

    32 Total Sales

    Jennifer Phillips
    Section Image

  • K

    Seller Co-Listing Agent in 2020

    Kerri Gaffett

    Ballard Hall Sales Group

See All Agents

Map

Source: State-Wide MLS

MLS Number: 1315441

State-Wide MLS

APN: BLOC-000006-000000-000003-000002-2

Rhode Island Washington County New Shoreham 02807

33 Ocean Ave Unit 2, New Shoreham, RI

This home is located at 33 Ocean Ave Unit 2, New Shoreham, RI 02807 and is currently priced at $630,000, approximately $572 per square foot. This property was built in 1954. 33 Ocean Ave Unit 2 is a home located in Washington County with nearby schools including Block Island School.

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