41 Washington AVE Cranston, RI 02920

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Tricia Coury

Executive Real Estate Specialist - Team Leader | License ID: res.0042126

+1(508) 838-6956

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Key Details

Sold Price $605,000

Property Type Multi-Family

Sub Type Multi Family

Listing Status Sold

Purchase Type For Sale

Square Footage 5,025 sqft

Price per Sqft $120

Subdivision Arlington

MLS Listing ID 1412357

Style Stacked

Bedrooms 8

Full Baths 4

Year Built 1920

Annual Tax Amount $5,442

Tax Year 2026

Lot Size 5,501 Sqft

Property Sub-Type Multi Family

Property Description

4-family in Cranston offering a strong value-add opportunity for investors or experienced buyers. The property features a desirable unit mix with two 1-bedroom units on the first floor, a spacious 3-bedroom unit on the second floor, and a 2-bedroom unit on the third floor.
Recent improvements include remodeled kitchens in Units 1R and 2F, newer vinyl siding, replacement windows, and upgraded mechanicals. Interior conditions vary, with select units recently updated while others offer additional upside through cosmetic improvements and rent optimization.
Ideal opportunity for investors seeking cash flow, forced appreciation, or long-term portfolio growth in a strong Cranston rental market. Property offers multiple income streams with clear value-add potential.
Property is being sold as-is. Seller will not perform repairs or upgrades beyond any basic safety items deemed necessary for closing.
Sale is subject to seller obtaining suitable housing. Seller may also consider a short-term rent-back period after closing if mutually agreeable.

Conservative Estimates for Market Rents: 1F Rear Studio $1,550 | 1F Front 1BR $1,750 | 2F 3BR $2,150 | 3F 3BR $2,050
Estimated Gross Annual Income Potential: $90,000.00