470 Academy Avenue Providence, RI 02908

For sale for $390,000 - MLS # 1331438

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470 Academy Avenue
Providence, Rhode Island RI 02908
Price: $390,000
Listing ID 1331438 Status Pending 8 Bedrooms 3 Full Baths 4,504 SqFt 0.115 Acres Subdivision: Elmhurst / Prov. College / LaSalle

Property Description:

A terrific opportunity to own a 3-family home in the sought-after Elmhurst neighborhood of Providence! Close to Providence College, LaSalle Academy, and RI College, this historic charmer is big and bright, and features off-street parking for 6 cars in the double-wide driveway and for 2 more in the detached garage. The 1st and 2nd floor units feature similar layouts, each with 3 bedrooms, 1 full bathroom, a kitchen, a dining room and a living room. The 3rd floor unit has 2 bedrooms, 1 full bathroom, a kitchen and a living room. The 1st floor unit has a private front entrance, while the 2nd and 3rd floor units are each accessed by both front & back shared stairwells. Features of the house incl. inviting front porches on the 1st and 2nd levels, charming hardwood floors, high ceilings, replacement windows, aluminum storm doors (2019), a 1-layer roof (2019), a new copper main water line from the street to the house (2019), 3 new hot water tanks (2022), a code-compliant interconnected wireless smoke/co detection system (2023), separate utilities, & on-site laundry & ample storage in the basement. Great for a flip or as an owner-occupied opportunity, w/ rental income paying the mortgage and a homestead exemption to reduce the property taxes by 45%. Current rents are approx. 50% of actual market rate, with all tenants on month-to-months leases. The house does need TLC / updating and will not pass FHA. Selling "as is," below assessment, for cash or via conventional or rehab loan only.

Primary Features

County: Providence
Property Sub Type: Multi Family
Property Type: Residential Income
Subdivision: Elmhurst / Prov. College / LaSalle
Year Built: 1920
Zoning: R-2


Appliances: Gas Water Heater, Oven, Range, Refrigerator, Water Heater
Basement: Exterior Entry, Full, Interior Entry, Unfinished
Cooling: 1 Unit
Electric: 100 Amp Service
Fireplace Features: None
Flooring: Carpet, Hardwood, Laminate, Vinyl
Heating: Gas, Hot Water, Other
Interior Features: Tub Shower
Laundry Features: Common Area
Living Area Source: Public Records
Utilities: Sewer Connected
Rooms Total: 16
Stories Total: 3


Construction Materials: Plaster, Vinyl Siding
Covered Spaces: 2
Exterior Features: Paved Driveway
Foundation Details: Brick/Mortar, Combination, Concrete Perimeter
Garage Spaces: 2
Number Of Buildings: 1
Number Of Units Total: 3
Parking Features: Detached, Garage, Garage Door Opener
Parking Total: 6
Water Source: Connected, Public


Community Features: Golf, Highway Access, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s), Sidewalks
Lot Size Square Feet: 5000


Documents Count: 3
Mls Status: Pending
Permission: IDX
Possession: Negotiable
Sewer: Connected, Public Sewer
Source System ID: TRESTLE
Source System Key: 1034180797


Operating Expense: 7424
Tax Annual Amount: 7424
Tax Assessed Value: 417100
Tax Lot: 68
Tax Year: 2022
Tenant Pays: Hot Water

Zoning Info

Area Info

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed. © 2023 RI State-Wide MLS (RIS). All rights reserved. Listed by Lila Delman Compass. Data last updated: Saturday, April 1st, 2023 at 06:03:05 AM.

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