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$1,200,000

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
10
On market date
N/A
Stories
N/A
Garage spaces
N/A
Lot size
4,356 sqft
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Nearby schools

Within 10 miles · public school directory data (NCES)

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

Mortgage calculator

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Est. monthly payment
$7,377/mo
$240,000 down
$960,000 loan
Principal & interest$6,227
Property tax (est.)$1,000
Home insurance (est.)$150

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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated June 20, 2026.

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.