Turnkey 7-unit compound with significant upside in a strong Providence rental market. The asset consists of a 6-unit main building featuring (6) one-bed, one-bath units with gas baseboard heat, plus a detached ~989 SF cottage offering a 2-bed, 1-bath layout with electric baseboard heat. Ownership has completed all major capital improvements, including upgraded boilers and hot water systems, minimizing near-term capex. The property is professionally managed and benefits from tenant-paid utilities, creating an efficient and predictable expense structure. Off-street parking adds to tenant appeal and retention. Current gross income is $98,448, with a pro forma of $111,600, driven by below-market rents, presenting a clear and immediate value-add opportunity. This is a stabilized, income-producing asset with operational upside—ideal for investors seeking strong in-place cash flow with the ability to increase yield through rent growth.
4,589 Sq Ft
5,227 Sq Ft Lot Size
investment
$1,027 Monthly Tax
Built in 1900
MLS/Listing ID 73508855
3 Stories
7 Units
Lot - Sloped
Block
Stone
Tile
Rain Gutters
Construction - Frame
Community - Park
Community - Public Transportation
Community - Shopping
Community - Sidewalks
Public Water
Public Sewer
Rubber
Asphalt/Composition Shingles
Community - T-Station
Community - Public School
Community - Private School
Community - Medical Facility
Community - Laundromat
Community - House of Worship
Community - Highway Access
Parking - Common
Parking - Off Street
Parking - Tandem
TOTAL MONTHLY COST
$0
$0
$0