502 Old Town Road

Block Island, RI 02807

$1,725,000
Last Sold Price
6
Beds
3
Baths
4,194 Sq. Ft.
$411 / Sq. Ft.
4,194
Sq. Ft.
$411
per Sq. Ft.

Description

Circa 1880, traditional in style, but converted into three apartments, this property offers immediate investment potential on an annual basis or can be converted to a single family home. Each apartment offers 2 bedrooms, 1 bath with laundry hookup, full kitchens, living areas and their own outdoor spaces. 40,636 square feet of land (.87 Acres) located on Old Town Road not far from town and beaches. Renovated over time, with building permits outlining all of the improvements made. This is a one of...Circa 1880, traditional in style, but converted into three apartments, this property offers immediate investment potential on an annual basis or can be converted to a single family home. Each apartment offers 2 bedrooms, 1 bath with laundry hookup, full kitchens, living areas and their own outdoor spaces. 40,636 square feet of land (.87 Acres) located on Old Town Road not far from town and beaches. Renovated over time, with building permits outlining all of the improvements made. This is a one of a kind property on Block Island!
  1. Listed by Gail HALL • Ballard Hall Sales Group

Property Details for 502 Old Town Road

Subdivision Name
Central
Waterfront Features
Saltwater View
View
Saltwater, Water

Location

Listing Courtesy of Ballard Hall Sales Group

Sold By Trusthill Real Estate Brkrg.

Add your commute
LISTING UPDATED: 06/10/2022 11:20 AM

Property Details for 502 Old Town Road

StatusClosed
MLS #1299945
Days on Market125
Taxes$4,108 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built1880
Lot Size0.93 AC / 40,636 SF
CountyWashington County

Location

Listing Courtesy of Ballard Hall Sales Group

Sold By Trusthill Real Estate Brkrg.

Add your commute

Building Information for 502 Old Town Road

Stories4Residences3Year Built1880Building Size-Lot Size0.93 AC / 40,636 SF

Payment Calculator

$9,756 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,414

Property Taxes

$342

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 502 Old Town Road

Summary
Location and General Information
  • Community Features: Marina, Near Schools, Recreation Area, Shopping, Tennis Court(s)
  • Postal City: Block Island
  • Zoning: RB
  • County: Washington
  • City: Block Island
Parking
  • Covered Spaces: 0
  • Garage: No
  • Garage Spaces: 0
  • Parking Features: No Garage
  • Parking Total: 6
Taxes and HOA Information
  • Association Fee: $.00
  • Tax Annual Amount: $4,108.00
  • Tax Assessed Value: 766500
  • Tax Lot: 18-1
  • Tax Year: 2021
Property
Lot Information
  • Lot Size Acres: 0.9329
  • Lot Size Area: 40636.0
  • Lot Size Square Feet: 40636.0
  • Lot Size Units: Square Feet
  • Building Area Total: 4,194.00
  • Parcel Number: 502OLDTOWNRDNSHM
  • Living Area Source: Public Records
Property and Assessments
  • Senior Community: No
  • Construction Materials: Drywall, Plaster, Clapboard, Wood Siding
  • New Construction: No
  • Number Of Buildings: 2
  • Number Of Units Total: 3
  • Property Sub Type: Multi Family
  • Stories Total: 4
  • Year Built: 1880
  • Frontage Length: 135
  • Property Type: Residential Income
Utilities
  • Cooling: None
  • Cooling: No
  • Electric: Circuit Breakers
  • Heating: Baseboard, Oil, Zoned
  • Heating: Yes
  • Sewer: None
  • Utilities: Sewer Not Available
  • Water Source: Well
Interior and Exterior Features
Exterior Features
  • Exterior Features: Deck, Porch
  • Foundation Details: Concrete Perimeter, Slab, Stone
  • Patio And Porch Features: Deck, Porch
  • View: Yes
  • Window Features: Skylight(s)
Interior Features
  • Appliances: Oil Water Heater
  • Basement: Full, Finished, Walk-Out Access
  • Basement: Yes
  • Bathrooms Full: 3
  • Bathrooms Half: 0
  • Bathrooms Total Integer: 3
  • Bedrooms Total: 6
  • Fireplace Features: None
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Ceramic Tile, Hardwood
  • Interior Features: Bathtub, Skylights, Tub Shower
  • Rooms Total: 16
MultiFamily
Income & Expenses
  • Operating Expense: $10,744
Unit 1
  • Unit Type 1: 2 Bedroom
  • Unit Type Description 1: Ground Floor
  • Unit Type Actual Rent 1: $1,250.00
  • Unit Type Baths Total 1: 1
  • Unit Type Beds Total 1: 2
Unit 2
  • Unit Type 2: 2 Bedroom
  • Unit Type Description 2: 2nd & 3rd Floor
  • Unit Type Actual Rent 2: $1,650.00
  • Unit Type Baths Total 2: 1
  • Unit Type Beds Total 2: 2
Unit 3
  • Unit Type 3: 2 Bedroom
  • Unit Type Description 3: Main Floor
  • Unit Type Actual Rent 3: $1,250.00
  • Unit Type Baths Total 3: 1
  • Unit Type Beds Total 3: 2
Rental Information
Rent Information
  • Land Lease: false
  • Tenant Pays: Hot Water

Property History for 502 Old Town Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 502 Old Town Road

Taxable ValueLand$393,400Additions$1,226,600Total$1,620,000
Tax Record2023$9,752 ($813 / month)
Home Facts
Baths3Total Finished SqFt2,664 SqFtAbove Grade Finished SqFt2,664 SqFtStories2Lot Size37,897 SqFtStyleTriplexYear Built1880ZoningRBCountyWASHINGTONAPNBLOC M:17 L:018-01

Schools near 502 Old Town Road

This home is within New Shoreham School District.
Rating
School
Type
Grades
Distance
Public - K to 12
Rating
School
Distance
Block Island School
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Ballard Hall Sales Group

Based on information from one of the following Multiple Listing Services: Rhode Island Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Rhode Island Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.