Multi Family North Kingstown RI Home for Sale on 5 acres
81 Pendar Road – 2 Buildings – 4 apartments -Legal 3 Family Unit
This new to market 3 family North Kingstown RI home for sale at 81 Pendar Road with 4.78 acres that is waterfront on Silver Spring Lake is waiting on the right buyer. There are two buildings for sale with apartments: 1 cottage with 1 apartment and a main building with 3 apartments but a legal 3 family property per the town. Located down a long private driveway these apartment homes are well maintained by the owner. All 4 apartments are rented out now ( 1 has a lease and 3 are on a month to month leases). The 4.78 acreage itself is stunning, treed, serene and private in a wonderful neighborhood near Quail Hollow and Saunderstown neighborhoods.
The location in Saunderstown just 2 minutes from Route 1 is so convenient for traveling, shopping and work. Walk on down the huge backyard on a wide path all the way down to the Silver Spring Lake. Fresh waterfront is a walk away. Huge trees populate the borders of this North Kingstown RI real estate multi family property in this quiet setting for the tenants and all who visit.
Main Building – 3 Apartments 81 Pendar Rd N. Kingstown
The main building has a number of building additions that added to the 1720 small structure of the original house. Way before the owners time. The present owner has renovated in the last 15 years from the roof, inside apartments with wiring re-done by licensed contractors, new 2-100 amp circuit breaker panels, oil tank, side shingles, porch, storm doors replaced, replastered, all windows are insulated and newer, floors, kitchens, appliances, bathrooms upgraded. Besides adding new gutters. Older oil boiler heating system and town water in this building.
With apartment #1 having an East facing sunrise screened in porch it helps make a great morning. Along with 2 bedrooms, kitchen, large living room, full bath. Apartment #2 is on the upper level with a deck & stairs and is very sweet with 3 skylights to add to the charm of this 1 bedroom, kitchen, dining area, living & bedroom place to live. Apartment #3 is the northerly apartment and is the only one with a propane gas stove (the other apartments have an electric stove). It has a kitchen, living room, bedroom and full bath with access to outside from front and back of the building. All apartments have lots of windows which let in the natural light of this serene Saunderstown location. Oil baseboard heat with a new Burnham oil burner & hot water holding tank supply the buildings heat. Two septic systems supply this main building.
Cottage Building – 1 Apartment 81 Pendar Rd N. Kingstown
The ‘cottage’ building built in about 1900 and, as it is known, is about 50 feet from the main 81 Pendar building and is a smaller living space of 540 square feet on one floor. With a new custom storm door entry way into a small room for a storage food pantry, boots and jackets and then you walk right into the kitchen (refrigerator, stove/oven as appliances), living room and 1 bedroom. Another door takes you into the kitchen, living room, 1 bedroom and a full tiled bath with shower/tub too completes this North Kingstown apartment. There is another entrance to the downstairs that has heat and electric and is used as a work staging area for the land owner. The 8000 watt generator is located externally here and supplies power to both building to supply heat & run the refrigerators if a power outage occurs. Both buildings have the generator plugs installed into the electric systems. The new generator stays with the sale of this multi family property and transfers to the new owner.
Two Car Garage
The two car garage with storage shed is shared by tenants.
Just 10 minutes to Wickford Village, shopping, North Kingstown library and the Town Beach, you have country at home and village minutes away. Whether traveling North or South, ease of access to all highways and bridges is available. Heading to the South County beaches is just two minutes to Route 1! North Kingstown is known for its fine real estate, suburban living and good schools. The fine quality of life here is understated by many since keeping that ‘hush’ don’t tell anyone a part of the dream of maintaining the pastoral nature of this southern RI community.
This 3-4 family apartment unit is one of a kind in its maintenance and location in a most magnificent setting. The owner pays for town water usage, electric for 2 units in the main building and heat for the 3 units in the main building. The town shows that it is a 3 unit legal apartment buildings with the fourth being added sometime in the 1970’s.
Only buyers with lender pre-approvals or proof of funds in hand will be shown the property. It is important to understand that unless you are going to be an owner occupied owner of this property (any you own another property), the lenders will require 25% down to buy an investment property. If you do not own another property or will be an owner occupied landlord a FHA or VA loan will allow 3.5% down. The property is sold ‘as is’ (meaning the seller will not be doing updates for the buyer). The sales price for this 81 Pendar Road North Kingstown multi family is $340,000.
4 Apartment Multi Family North Kingstown RI Home for Sale | Acreage
When you are in need of a top selling North Kingstown real estate professional and specialist for your buying, selling or relocating home needs. Whether it is single family, multi family, land or estate, my goal is to realize the dream of my clients. An internet savvy Rhode Island real estate agent & marketer who sells RI houses in this real estate market call Ginny at 401.529.7849 or email me at ginny@RiHouseHunt.com.