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189 193 Ontario Street, Providence, RI, 02907 | $749,500
This unique property situated on a historic street comprises 5 individual residential apartments; all units boasting modern appliances which further exemplifies the eclectic aesthetic of them by combining comfort, style, and functionality. Sides units has a one level town-house style feel' to it; with identical floor plan just used for different functionalities. Units have been owner occupied for over 5 years. 1st. unit (L) has 3 beds + day bedroom + all year season porch. 2nd. side unit (R) has 3 bedrooms + plus a walk In closet + Garden Patio Area and has a detached garage + storage on its side bringing extra income. All units have eat- in-Kitchens. In addition' sides units have separate electrical meters - parking is side by side with 2 drive ways. The 3rd floor level has loft style feel to it, as it occupies the entire floor with 2 good size bedrooms. The main 2 condo feel units have a very spacious bedrooms with hardwood floors throughout. This Investment Property, is entirely hard wired @100% Occupancy Rate with Month to Month leases at $16. 97 per sqft. This Four Basis Return comprises of an income stream of gross rents more than $99, 000 (YOY) =NOI is $66, 700. 00 with estimated cap rate at 8% . See(APOD). Conveniently located near the RIPTA/BUS Line, which is easy connection to MBTA commuter train station. And with Downtown Providence, Federal Hill, and the River Greenway Bike Path, near by, you have easy access 95/RT6 & to all amazing dining, entertainment & shopping.
Features
- Property Type: Commercial
- Permitted Use: Commercial,Investment,Multi-Family,Other,Residential
- Utilities: Cable Available,Electricity Available,Natural Gas Available,Natural Gas Connected,Municipal Utilities,Water Connected,Sewer Connected,Water Available
- Parking: 6-car
- Heating: Central,Common,Gas,Steam,Zoned
- Cooling: Attic Fan,None,1 Unit,Window Unit(s)
- Amenities: Golf,Highway Access,Near Hospital,Near Schools,Public Transportation,Recreation Area,Restaurant,Shopping,Sidewalks
- Zoning: R-2
- Laundry: Common Area
- Year Built: 1930
- Est. Taxes: $10,402
- Lot Desc: Historic District
- MLS#: 1366242
- Website: https://www.raveis.com
/prop/1366242/189193ontariostreet_providence_ri?source=qrflyer
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William Raveis Family of Services
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Customer Service
888.699.8876
Contact@raveis.com
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To learn more about our credentials, visit raveis.com today.
Whitney RuggVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 7654
401.474.4879
Whitney.Rugg@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Allen GellermanInsurance Sales Director, William Raveis Insurance
617.686.2668
Allen.Gellerman@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
189 193 Ontario Street, Providence, RI, 02907
$749,500
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Whitney Rugg
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 | $599,600 | $599,600 | $599,600 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 7.250% | 6.990% | 6.125% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.655% | 7.146% | 6.412% |
| Monthly Tax Payment | $867 | $867 | $867 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $4,090 | $3,985 | $5,100 |
| Total Monthly Payment | $5,049 | $4,944 | $6,059 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
RI Mortgage Lender & Mortgage Broker #20051918LL & #20051919LB