Discover the perfect blend of business and residential living at 1538 Elmwood Ave, an exceptional mixed-use property offering a commercial storefront unit alongside two residential apartments. Located in the heart of Cranston, this property includes the adjacent lot, boasting a total of over 10, 000 square feet in the C5 zoning district. The commercial storefront provides an ideal opportunity for entrepreneurs and business owners seeking a prime location with high visibility and ample foot traffic. With its own separate entrance and expansive windows, the storefront unit offers endless possibilities. Adjacent to the commercial space, two residential units await. Each unit features two bedrooms and one bathroom, providing comfortable living spaces. Perfect for owner-occupancy or as rental units. Outside, the spacious lot ensures plenty of parking for tenants and customers alike, enhancing convenience and accessibility. The expansive grounds also present opportunities for further development or expansion. Easy access to major transportation routes further enhances the appeal of this prime location. Whether you're looking to invest, operate your own business, or generate rental income, 1538 Elmwood Ave presents a rare opportunity to own a versatile property with unlimited potential. Don't miss out schedule your private tour today to explore all that this remarkable property has to offer! See attached uses for C5 Zoning.
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William Raveis Real Estate
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VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $440,000 | $440,000 | $440,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.375% | 6.125% | 4.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.512% | 6.273% | 5.248% |
Monthly Tax Payment | $609 | $609 | $609 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $2,745 | $2,673 | $3,477 |
Total Monthly Payment | $3,446 | $3,374 | $4,178 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.