301 Hope St

301 Hope St, Bristol, RI

IN CONTRACT

$650,000

Price

3,100 sqft

Building Size

1789

Year Built

Overview
Building Size
3,100 sqft
Year Built
1789
MlsNumber
1306436
Description

Pleased to present a mixed-use asset with a great blend of capital appreciation and strong income history. This is a rare high-yield investment opportunity and trophy property in the most walkable location in all of Bristol: The Downtown Parade Route. Total monthly income is $4,250/month with potential for $5,000+. Located in the heart of downtown Bristol right on the famous parade route. In addition to excellent visibility, this is in an area with high levels of foot traffic from local residents, college students and tourists, which drives significant business for the two side by side retail commercial units on the 1st floor: a cafe ($2,100/month, increasing to $2,300 in May 2023) with a full lower level and kitchen; and a gift shop ($950/month-to-month) 25-year tenant. The residential townhouse style unit located on the 2nd and 3rd floor generates $1200 via a month-to-month lease; however, market rent = $1,800/month. This unit features 3 bedrooms, a full bath and recently renovated kitchen. *Residential unit has lucrative Airbnb potential as it generates $8,000/month in the summer*. Property is within a 5-minute walk to the water. Do not miss out on the opportunity to add this valuable asset to your portfolio. Schedule an appointment today!

Highlights
  • Cooling: Central A/C
  • Heating Type: Forced Air
Documents
Title
Virtual Tour
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Listing ID: c9bd4bbf-4496-48d0-8dfc-a4307f9e09ec
Location
Gallery