Seller's Agent in 2021
Lisa Chaloux
Coldwell Banker Realty
(860) 997-7767
3 in this area
73 Total Sales
8 Spring St Westerly, RI 02891
6
Beds
4
Baths
4,462
Sq Ft
0.39
Acres
Highlights
- Wood Flooring
- Bathtub with Shower
- Public Transportation
- 8 Car Attached Garage
- Security System Owned
- Forced Air Heating System
About This Home
As of July 2021Investment Property! Front Building is four units and the back building is 2 units with garage style bays. Fully occupied with month to month tenants. Turn of the Century Building A has two 1 bedroom apartments on the 1st floor (1st floor right has Stackable washer/dryer), the second floor apartment is spacious with two bedrooms, formal dining room, kitchen, pantry with washer/dryer hookup, living room and den. The third floor has two bedrooms, living room, den and kitchen. The back building 1st floor is a two room apartment with great covered front porch open living area, kitchen and full bath. The second floor of the back building has two bedrooms, living room, kitchen, washer/dryer hookup. Property generates over $40k in yearly income. Rents are currently below market. With some TLC and updates you could get much higher rental amounts. Front building has 4 Family Fire Detection System connected to the fire department and is inspected yearly per code. All tenants pay their own heat and electric. The utilities are a combination of natural gas and electric. 6 unit buildings will require commercial loans and most likely 25% down. Front building has windows, roofing and siding replaced approx. 14 years ago. The rear building roofing was replaced in 2020. Convenient location walk to downtown, schools and shopping.
Last Agent to Sell the Property
Coldwell Banker Realty License #RES.0034495 Listed on: 06/04/2021
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,869
Year Built
- Built in 1900
Lot Details
- 0.39 Acre Lot
Parking
- 8 Car Attached Garage
Home Design
- 4,462 Sq Ft Home
- Brick Foundation
- Stone Foundation
- Vinyl Siding
- Concrete Perimeter Foundation
- Plaster
Kitchen
- Oven
- Range
Flooring
- Wood
- Carpet
- Laminate
- Ceramic Tile
- Vinyl
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Full Bathrooms
- Bathtub with Shower
Laundry
- Laundry in unit
- Dryer
- Washer
Unfinished Basement
- Basement Fills Entire Space Under The House
- Interior Basement Entry
Utilities
- No Cooling
- Forced Air Heating System
- Heating System Uses Gas
- Baseboard Heating
- Heating System Uses Steam
- 100 Amp Service
- Gas Water Heater
Listing and Financial Details
- Tenant pays for hot water
- Legal Lot and Block 42 / 42
- Assessor Parcel Number 8SPRINGSTWEST
Community Details
Overview
- 2 Buildings
- 4 Units
Additional Features
- Public Transportation
- Operating Expense $14,054
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/19/2021 07/19/21 | Sold | $490,000 | +2.1% | $110 / Sq Ft |
| 06/19/2021 06/19/21 | Pending | -- | -- | -- |
| 06/04/2021 06/04/21 | For Sale | $479,900 | -- | $108 / Sq Ft |
Source: State-Wide MLS
Tax History Compared to Growth
Agents Affiliated with this Home
-
Lisa Chaloux
-
Robert Andersen
Buyer's Agent in 2021
Robert Andersen
RE/MAX South County
(401) 212-7307
6 in this area
16 Total Sales
Map
Source: State-Wide MLS
MLS Number: 1284625
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