$1,500,000

About this home

Former convent with maintenance-free brick exterior, reimagined into a documented income-producing property across three floors. Eleven bedrooms and six baths span a layout built for shared occupancy: the first floor centers on a spacious furnished common area with vending for guest convenience, an ensuite with private bath, and two bedrooms sharing a bath; the second and third floors each repeat an ensuite plus three bedrooms sharing a common bath and kitchen. That room-around-common-space structure extends this property's appeal beyond the conventional investor to group home operators, transitional or sober-living housing, student housing, and institutional or nonprofit buyers. **A finished lower level adds five rooms, a bath, and coin-op laundry — not counted toward the bedroom total due to window egress sizing, offering future expansion potential once brought into code compliance.**Documented annual income runs $174,960 across a diversified revenue base — long-term tenancy alongside an active short-term rental operation through Airbnb and Cloudbeds — and the property is sold fully furnished, running near a 7.5% cap rate at the current ask.**Located in the heart of Federal Hill, within walking distance of Atwells Avenue's restaurants, shops, and entertainment, with the West Side's full range of amenities close by. Ample on-site parking, a nearby dog park, and easy access to downtown Providence and the train.

Property facts

Property type

Multi Family

Year built

1953

Lot size (acres)

0.2

Total rooms

18

Garage spaces

0

Total parking

8

Annual taxes

$14,947.8

Tax year

2026

Neighborhood

Federal Hill, West Side

County

Providence

Features

Heating

Natural Gas, Baseboard, Forced Water, Steam

Cooling

Other

Basement

Full, Interior and Exterior, Finished, Bathroom, Common, Laundry, Storage Space

Appliances

Oven, Range, Refrigerator, Gas Water Heater

Interior

Wall (Dry Wall)

Laundry

In Building

Parking

No Garage

Construction

Dry Wall, Brick

Utilities

Sewer Connected, Water Connected

Community

Bus, Highway Access, Hospital, Public School, Railroad, Recreational Facilities, Restaurants, Schools, Shopping

Lot

Paved Driveway

Location