$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 details

MLS #

1422669

Property type

Multi Family

Subdivision

Federal Hill, West Side

Status

Active

Days on market

10

On market date

September 16, 2026

Stories

3

Total bathrooms

6

Garage spaces

N/A

Parking spaces

8

Lot size

0.2 acres

Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).