$999,000

About this home

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.

Property facts

Property type

Multi Family

Year built

1900

Lot size (acres)

0.12

Total rooms

23

Garage spaces

0

Total parking

6

Annual taxes

$12,324

Tax year

2025

County

Providence

Features

Heating

Natural Gas, Baseboard, Gas Connected, Other

Cooling

None

Basement

Full, Interior Only, Unfinished, Utility

Appliances

Gas Water Heater

Laundry

Off Site

Parking

No Garage

Construction

Vinyl Siding

Utilities

Sewer Connected, Water Connected

Community

Bus, Commuter Bus, Golf, Highway Access, Hospital, Interstate, Private School, Public School, Railroad, Recreational Facilities, Restaurants, Schools, Shopping

Location