$1,100,000
About this home
Incredibly rare investment opportunity in Providence, a unique dual-building parcel. Nestled in the heart of Providence, this exceptional property presents a rare chance for discerning investors. Boasting two distinct buildings on a single lot, this offering combines immediate income potential with future growth prospects. The first building is completely occupied, housing 2 commercial units and 3 residential dwellings. Meanwhile, the second building is currently in the construction stage, about 70% completed and will also have 2 commercial units with 4 residential dwellings. With a total of eleven units spread across both buildings, the potential for substantial profitability is undeniable. The completed, corner building includes 3 three-bedroom units that are updated and properly maintained with 2 storefront units currently operating. Unfinished building pro forma rent is $9, 000. NOI is $160, 000. Seize this opportunity to diversity your portfolio and capitalize on Providence's real estate market.
Affordability — calculate your monthly payment
Adjust your budget to see what's left after housing, utilities and transportation. Numbers below assume a 5% down, 30YrJumbo at 4% APR.
- Real estate (PITI + HOA + PMI)
- $8,359
- Utilities
- $4,410
- Transportation
- $170
- Other (entertainment)
- $140
Quick facts
At a glance
Home features
Neighborhood — 02909
| Metric | This ZIP | County | USA |
|---|---|---|---|
| Population | 51,879 | 1,095,423 | 299,088,112 |
| Population Change Since1990 | 23.00% | 9.00% | 20.00% |
| Population Density | 14,793 | 994 | — |
| Male | 25,302 | 529,266 | 147,432,321 |
| Female | 26,576 | 566,157 | 151,655,844 |
| Never Married | 16,308 | 266,404 | 63,775,926 |
| Married | 13,033 | 435,678 | 123,120,365 |
| Separated | 3,257 | 43,642 | 12,639,686 |
| Widowed | 2,457 | 66,668 | 15,467,586 |
| Divorced | 3,858 | 83,843 | 23,075,029 |
| Number Of House Hold | 18,418 | 410,399 | 111,826,380 |
| Average House Hold Size | 2.76 | 2.56 | 2.60 |
| Medial Age | 28.34 | 37.27 | 35.46 |
| Median House Hold Income | $26,191 | $47,553 | $48,276 |
| Average House Hold Income | $37,193 | $61,609 | $63,629 |
| P C I | $13,721 | $23,965 | $24,529 |
| M D I | $23,935 | $40,634 | $41,133 |
| A T H E | $36,127 | $49,940 | $50,898 |
| S T R | 7.00% | 7.00% | — |
| W C J | 75.63% | 78.02% | 77.74% |
Data via Certihomes neighborhood index. Comparisons across this ZIP, county and the United States.
Map & walkability
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Listing information last refreshed 2/28/2024. Provided courtesy of the listing office via RI & State Wide MLS. Information deemed reliable but not guaranteed.