Multi Family at 12 University Avenue, Providence
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44 photos

$1,490,000

12 University Avenue
Providence, RI 02906
Listed by Scott Champagne
Bedrooms
8
Bathrooms
5
Living area
N/A
Year built
1900

About this home

One of the best-located two-families on the East Side, positioned right between Wayland Square and College Hill. Fully gut renovated in 2020 from the foundation up. Structure, systems, interior, exterior, all rebuilt to a high standard. This is as turnkey as it gets. Eight bedrooms and five baths across two apartments. Unit 1 is a true 3 bed / 2 bath with its own independent footprint. Unit 2 spans two levels with 5 beds / 3 baths and lives like a private townhouse. Leased through May 2027 with zero vacancy history. Tenants pay gas and electric. $8,800/month gross rent. $80,040 NOI. Central air, in-unit laundry, off-street parking, and full-height basement with ADU potential. The value here is flexibility. Hold it as a stabilized long-term rental. Convert to condos and sell individually down the road. Explore an ADU for a third income stream. Let leases reset in 2027 and push rents to market. Or live in the townhouse unit yourself while the first floor offsets ownership costs. Multiple ways in. Multiple ways out. Priced at $1,500,000 with $80,040 NOI and a clear path toward a 6%+ return over time. Buy it stabilized. Reposition it on your terms.

Property details

MLS #
1413277
Property type
Multi Family
Subdivision
East Side
Status
Active
Days on market
66
On market date
May 22, 2026
Stories
3
Total bathrooms
5
Garage spaces
N/A
Parking spaces
2
Lot size
0.08 acres
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Nearby schools

Within 10 miles · public school directory data (NCES)

Elementary
Martin Luther King El. School
0.6 mi away · Grades -1-5
Nearest school -- attendance-zone data not available here
3.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
366
Student:teacher ratio
15.3:1
District
Providence
Middle
Nathan Bishop Middle
0.52 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
636
Student:teacher ratio
13.3:1
District
Providence
High
Hope High School
0.45 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
943
Student:teacher ratio
14.3:1
District
Providence

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$9,123/mo
$298,000 down
$1,192,000 loan
Principal & interest$7,731
Property tax (est.)$1,242
Home insurance (est.)$150

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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated July 27, 2026.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.