$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 details
- MLS #
- 1409853
- Property type
- Apartment,Multi Family
- Subdivision
- N/A
- Status
- Active
- Days on market
- 10
- On market date
- N/A
- Stories
- 3
- Garage spaces
- N/A
- Lot size
- 0.12 acres
Location
Get directions →Nearby schools
Within 10 miles · public school directory data (NCES)
- Enrollment
- 311
- Student:teacher ratio
- 15.6:1
- District
- Providence
- Enrollment
- 190
- Student:teacher ratio
- 11.2:1
- District
- Paul Cuffee Charter Sch
- Enrollment
- 659
- Student:teacher ratio
- 9.8:1
- District
- Providence
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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated April 24, 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.