Emily Christenbury
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Commercial at 237 Cowden Street, Central Falls
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37 photos

$1,100,000

237 Cowden Street
Central Falls, RI 02863
Listed by Tomas Pelaez
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
1900

About this home

Turnkey 5-Unit Multifamily Investment Fully renovated 5-unit apartment building with all major capital improvements completed, including new plumbing, electrical, HVAC, insulation, kitchens, and bathrooms. Investors can benefit from minimal deferred maintenance and reduced capital expenditure risk for years to come. Located in a high-demand rental market near schools, parks, restaurants, shopping, public transportation, and major employment centers, supporting strong occupancy and tenant retention. Investment Highlights: 5 residential units 4 2 bedroom 1 bath 1 4 bedroom 2 bath 100% renovated building New major systems throughout Low-maintenance asset Strong rental demand location Ideal for cash flow and long-term appreciation A rare opportunity to acquire a stabilized, turnkey multifamily property. Perfect for investors seeking reliable income with limited near-term capital requirements.

Property details

MLS #
1414946
Property type
Commercial
Subdivision
N/A
Status
Active
Days on market
96
On market date
June 9, 2026
Stories
N/A
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
5
Lot size
4,356 sqft

Location

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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).

Elementary
Veterans Memorial Elementary
0.11 mi away · Grades 0-4
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
366
Student:teacher ratio
11.8:1
District
Central Falls
Middle
Calcutt Middle School
0.11 mi away · Grades 5-8
Nearest school -- attendance-zone data not available here
3.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
729
Student:teacher ratio
17.0:1
District
Central Falls
High
Central Falls Sr High
0.25 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
3.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
804
Student:teacher ratio
17.1:1
District
Central Falls

Walkability

Blended score for Central Falls's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

85
Highly walkable
out of 100
EPA National Walkability Index
14.8 / 20 -- Above average walkable
Google Places amenity density
100 / 100
Restaurants & cafes20
Grocery stores12
Parks19
Schools16
Transit stops20
Pharmacies3

Mortgage calculator

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Est. monthly payment
$6,774/mo
$220,000 down
$880,000 loan
Principal & interest$5,708
Property tax (est.)$917
Home insurance (est.)$150

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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated 18 days ago.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.