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$ 1,500,000

Est. payment | -/mo

8 Beds

5 Baths

3,435 SqFt

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$ 1,500,000

Est. payment | -/mo

Save Virtual Tour

8 Beds

5 Baths

3,435 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,435 sqft

Price per Sqft $436

Subdivision East Side

MLS Listing ID 1413277

Style Stacked

Bedrooms 8

Full Baths 5

HOA Y/N No

Abv Grd Liv Area 3,435

Year Built 1900

Annual Tax Amount $18,131

Tax Year 2025

Lot Size 3,484 Sqft

Acres 0.08

Property Sub-Type Multi Family

Property Description

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.

Location

State RI

County Providence

Community East Side

Zoning R3

Rooms

Basement Exterior Entry, Full, Interior Entry, Unfinished

Interior

Interior Features Bathtub, Tub Shower

Heating Forced Air, Gas

Cooling Central Air

Flooring Ceramic Tile, Hardwood

Fireplaces Type None

Inclusions Property sold subject to existing leases in place through May 31, 2027. Financials provided by owner and believed accurate but not guaranteed. Buyers and buyer’s agents to perform their own due diligence regarding rents, expenses, and future development potential including ADU feasibility.

Fireplace No

Appliance Gas Water Heater, Tankless Water Heater

Laundry In Unit

Exterior

Exterior Feature Porch

Community Features Golf, Highway Access, Near Hospital, Near Schools, Other, Pool, Public Transportation, Recreation Area, Restaurant, Shopping, See Remarks, Tennis Court(s), Sidewalks

Utilities Available Sewer Connected

Porch Porch

Total Parking Spaces 2

Garage No

Building

Foundation See Remarks

Sewer Connected, Public Sewer

Water Connected, Public

Architectural Style Stacked

Structure Type Drywall,Vinyl Siding

New Construction No

Others

Senior Community No

Tax ID 12UNIVERSITYAVPROV

Virtual Tour https://tour.RiLiving.com/12-University-Avenue-Providence-RI-02906--1413277

Listed by Compass

NEARBY SCHOOL & BUSINESS

L&L Homes Team

Licensed in MA, CA, RI | License ID: 9527841

+1(508) 649-5646 | info@llhomesteam.com

12 University AVE Providence, RI 02906

L&L Homes Team

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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