$2,850,000

About this home

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 23 Melrose Street in East Greenwich, RI (the “Property”). The three-story building contains one (1) 2-Bedroom/2-Bathroom unit, three (3) 1-Bedroom/1 Bathroom units, and four (4) Studio units with 4,550 square feet of gross living area in 5,100 square feet of gross area. The Property is situated upon a 0.19-acre parcel and features two (2) off-street parking spaces, as well as laundry facilities for tenants' convenience. The Property has undergone a comprehensive gut renovation under current ownership, offering the opportunity to acquire a turnkey asset in an affluent coastal community. The renovation included all-new electrical wiring, plumbing, electric heating systems, laundry machines, stairs, flooring throughout the building, and additional improvements. Individual units benefit from these updated utility systems, as well as condo-quality finishes, including stainless steel appliances, quartz countertops, updated cabinetry, renovated bathrooms, and their own mini-split air conditioning unit. The extensive renovation significantly minimizes near-term CapEx requirements, improves utility efficiency and lowers operating costs, and positions prospective ownership to achieve top of the market rents and immediate cash flow.

Property facts

Property type

Multi Family

Year built

1930

Lot size (acres)

0.101

Total rooms

11

Garage spaces

0

Total parking

4

Annual taxes

$21,415

Tax year

2026

County

Kent

Features

Heating

Electric, Baseboard

Cooling

Central Air

Basement

Full, Interior and Exterior, Unfinished

Appliances

Electric Water Heater

Parking

No Garage

Construction

Wood

Sewer

Public

Water

Public

Lot

Local Historic District

Location