106 Main Street, Woonsocket, Residential Income

Description

106-114 Main Street (Honan’s Block) in downtown Woonsocket was built in 1879. Listed on the National Historic Register, the two inter-connected buildings are a legal 5-unit mixed-used property consisting of 2 commercial storefronts and 3 residential apartments. One is a retail store currently leased for $1050/month, and the other is a café/restaurant currently leased for $1100/month.  The residential units are as follows: 1A, a 2000 sqft unit 3 bed and 2 bath unit currently leased for $2295/month; 2B, an 1100 sqft 2 bed 1 bath unit currently leased for $1200/month; and 3C, an 1100 sqft 2 bed 1 bath unit currently leased for $1295/month.  Each unit has been uniquely updated, highlighting the historic features of the property, especially the two-floor owners’ townhouse with tin ceilings, brick walls and expansive windows.  The residential units feature loft-like floor plans, hardwood floors and high ceilings with plenty of natural light. Honan’s Block is not just the coolest building you could find anywhere in the state, but it’s also in great shape—from updated windows to modern wiring to plumbing to much much more.  This listing is a unique opportunity for owner-occupants and investors alike.