$302,500
SOLD FEB 11, 2020

33 Ocean Ave Unit 2 New Shoreham, RI 02807

-- Bed
1 Bath
1,100 Sq Ft
$577/mo HOA Fee

Recently Sold

$275 Per Sq Ft

55% Below List Price

1,093 Days on Market

About This Home

As of October 2022

Now is the time to take advantage of this rare opportunity to own a desirably located condominium with the luxury of being approved for either commercial or residential use. What was once a successful café run for years, this is a perfect opening for an inspiring entrepreneur. Currently a clean slate asking for your creative energy to bring the 1,100 sq. ft. space to life. Highly trafficked Ocean Avenue brings great exposure to a potential flower shop, toy store, studio space, etc… the possibilities are endless! One of 6 condos in the Albion Building, this second floor unit offers ocean views and a sense of privacy from the street, all while overlooking the lively conveniences of town. Renovate the area for your own private getaway, or consider the fantastic rental income potential. Savor peaceful mornings from the wrap around deck while you watch the town wake up. An easy walk to the ferry, beaches, shops and restaurants make this a perfect spot for vacationers and year-round residents alike!

Last Agent to Sell the Property

Jennifer Phillips

Phillips Real Estate License #REB.0015012 Listed on: 01/13/2017

Co-Listed By

Kerri Gaffett

Ballard Hall Sales Group License #RES.0042277

Last Buyer's Agent

Robin Vila

Ballard Hall Sales Group License #REB.0018194

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $2,348

Year Built

  • Built in 2007

HOA Fees

  • $577 Monthly HOA Fees

Home Design

  • Slab Foundation
  • Shingle Siding

Interior Spaces

  • 1 Full Bathroom
  • 1,100 Sq Ft Home
  • 1-Story Property

Flooring

  • Wood
  • Vinyl

Parking

  • 3 Parking Spaces
  • No Garage
  • Assigned Parking

Utilities

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

Listing and Financial Details

  • Legal Lot and Block 3 / 2-2
  • Assessor Parcel Number 33OCEANAV2NSHM

Community Details

Overview

  • 6 Units
  • Town Subdivision

Pet Policy

  • No Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$2,348

Year Built

Built in 2007

Lot Details

0

HOA Fees

$577 per month

Listing Details

  • Property Sub Type: Condominium
  • Prop. Type: Residential
  • Co List Office Mls Id: OFFS
  • Co List Office Phone: 401-466-5446
  • Subdivision Name: TOWN
  • Above Grade Finished Sq Ft: 1100.0
  • Building Name: Albion Building
  • Entry Level: 2
  • Garage Yn: No
  • Unit Levels: One
  • New Construction: No
  • Building Stories: 1
  • Year Built: 2007
  • Property Sub Type Additional: Condominium
  • Special Features: None
  • Stories: 1

Interior Features

  • Appliances: Gas Water Heater
  • Has Basement: None
  • Basement YN: No
  • Full Bathrooms: 1
  • Entry Location: Second Floor Access
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Hardwood, Vinyl
  • Living Area: 1100.0
  • Stories: 1
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Construction Type: Drywall, Shingle Siding
  • Foundation Details: Slab

Garage/Parking

  • Parking Features: Assigned, No Garage
  • Total Parking Spaces: 3.0

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: Gas, Hot Water
  • Heating Yn: Yes
  • Electric: 100 Amp Service
  • Sewer: Connected
  • Utilities: Sewer Connected
  • Water Source: Connected

Condo/Co-op/Association

  • Senior Community: No
  • Association Fee: 577.0
  • Association Fee Frequency: Monthly
  • Pets Allowed: No
  • Common Interest: Condominium

Lot Info

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

Multi Family

  • Number Of Units In Community: 6

Tax Info

  • Tax Annual Amount: 2348.0
  • Tax Block: 2-2
  • Tax Lot: 3
  • Tax Year: 2017

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

Range of Values:

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Average Value
Not Available
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

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: 1144369

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 $302,500, approximately $275 per square foot. This property was built in 2007. 33 Ocean Ave Unit 2 is a home located in Washington County with nearby schools including Block Island School.

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