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Commercial at 48 School Street UNIT 44, Central Falls
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$900,000

48 School Street UNIT 44
Central Falls, RI 02863
Listed by Yvonne Sousa
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
1900

About this home

Attractive 6-unit multi-family investment opportunity in the heart of Central Falls. This property offers a strong, versatile unit mix of three 2-bedroom units, two 1-bedroom units, and one 3-bedroom unit, appealing to a broad range of renters and supporting steady demand. Additional income comes from the on-site coin-operated washer and dryer, a convenient tenant amenity that generates ongoing revenue. Off-street parking is a valuable feature in this dense, walkable neighborhood and helps keep units in demand. Central Falls offers convenient access to Pawtucket, Providence, and major commuter routes, with shops, restaurants, parks, and public transportation close by. Whether you're an experienced investor looking to expand your portfolio or a newer buyer seeking a multi-unit with built-in cash flow, this property is an excellent opportunity to add value and build long-term equity. Buyer to verify all information, including rents, expenses, and unit details. Schedule your showing today!

Property details

MLS #
1424530
Property type
Commercial
Subdivision
N/A
Status
Active
Days on market
N/A
On market date
October 7, 2026
Stories
N/A
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
4
Lot size
0.11 acres

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
0.19 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
MiddleCharter
Segue Inst for Learning
0.23 mi away · Grades 3-8
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
275
Student:teacher ratio
14.5:1
District
Segue Institute for Learning
High
Central Falls Sr High
0.43 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

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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% / yr
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/mo
Est. monthly payment
$5,570/mo
$180,000 down
$720,000 loan
Principal & interest$4,670
Property tax (est.)$750
Home insurance (est.)$150

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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated 23 hr 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.