17 Summer ST Westerly, RI 02891
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 3,245 sqft
Price per Sqft $215
MLS Listing ID 1394316
Bedrooms 8
Full Baths 3
HOA Y/N No
Abv Grd Liv Area 3,245
Year Built 1900
Annual Tax Amount $3,993
Tax Year 2024
Property Sub-Type Multi Family
Property Description
A key attraction of a triplex is the ability to use "house hacking," a strategy where you live in one unit while renting out the other two. This approach offers several financial benefits, including qualifying for more favorable residential financing, such as a loan with a lower down payment. The rental income from your tenants can significantly reduce or even eliminate your own housing costs, allowing you to build equity + wealth much faster than you could otherwise.
A triplex offers compelling economies of scale. You are managing three units in one location, which is far more efficient than managing three separate single-family homes scattered across Westerly. This centralization reduces operational costs for maintenance, repairs, + property management. Shared expenses for the roof, landscaping, or exterior repairs are spread across three units. This is a powerful way to scale your portfolio quickly + effectively without the complexity of juggling multiple transactions for individual properties.
Location
State RI
County Washington
Zoning R6
Rooms
Basement Full, Unfinished
Interior
Interior Features Interior Steps, Tub Shower
Heating Baseboard, Central, Electric, Gas
Cooling None
Flooring Carpet, Ceramic Tile, Hardwood
Fireplace No
Appliance Dishwasher, Disposal, Oven, Range, Refrigerator, Water Heater
Laundry In Unit
Exterior
Exterior Feature Porch, Paved Driveway
Parking Features Detached
Garage Spaces 2.0
Community Features Marina, Near Schools, Public Transportation, Recreation Area, Shopping, Sidewalks
Utilities Available Sewer Connected
Waterfront Description Walk to Water
Porch Porch
Total Parking Spaces 5
Garage Yes
Building
Foundation Concrete Perimeter, Stone
Sewer Connected, Public Sewer
Water Connected, Public
Structure Type Drywall,Plaster,Aluminum Siding
New Construction No
Others
Senior Community No
Tax ID 17SUMMERSTWEST
Acceptable Financing Owner May Carry Second, Special Funding
Listing Terms Owner May Carry Second, Special Funding
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Executive Real Estate Specialist - Team Leader | License ID: res.0042126
+1(508) 838-6956 | tricia@triciacoury.com
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