MLS® ID: 1230752
20 Shady Lea Road
North Kingstown, Rhode Island, 02852 $579,000
Exceptional 4-Unit Multifamily residential building in a great NK location on Shady Lea Rd. All four units are oversize with upstairs units featuring extra rooms on third floor for bedrooms, home office, or art/yoga studio space. Huge yard and outdoor garden.
Great for potential owner occupant, investor, condo conversion... NOTE: Conventional financing only-property will not qualify for FHA/VA mortgage without 203k. Owner possibly willing to Finance for well qualified buyer.
Historic Rodman Mansion (ca. 1850), Apartments include:
- Huge windows (double pane double hung energy efficient)
- Wide plank hardwoods
- New bamboo flooring throughout the third floor
- Marble tiled bathrooms
- Claw foot tubs
- 9 foot ceilings
- Custom moldings
Three of the units are currently occupied and forth unit is vacant and ready for rental or owner occupancy. This property is a great investment opportunity for immediate cash flow for an investor or owner occupied. ($55,440 annual rental income). Additional income from coin-op laundry. Yearly income could easily be increased by $14,400 to align with current under market rents. These beautiful units are a very rare find in North Kingstown. Some tenants are on month-to-month leases.