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Guillermo A Molina Jr

info@theomteam.com +1(978) 360-3441

$ 999,000

Est. payment | -/mo

8 Beds

7 Baths

4,589 SqFt

Save

$ 999,000

Est. payment | -/mo

Save

8 Beds

7 Baths

4,589 SqFt

Key Details

Property Type Multi-Family

Sub Type 5-9 Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,589 sqft

Price per Sqft $217

MLS Listing ID 73508855

Bedrooms 8

Full Baths 7

Year Built 1900

Annual Tax Amount $12,324

Tax Year 2025

Lot Size 5,227 Sqft

Acres 0.12

Property Sub-Type 5-9 Family

Property Description

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.

Location

State RI

County Providence

Zoning R3

Direction Take I-95 to Broad St exit, follow to Whitehall St, 23 Whitehall St Providence.

Rooms

Basement Full, Interior Entry, Unfinished

Interior

Flooring Tile

Exterior

Exterior Feature Rain Gutters

Community Features Public Transportation, Shopping, Park, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T-Station, Sidewalks

Roof Type Rubber,Asphalt/Composition Shingles

Total Parking Spaces 4

Garage No

Building

Lot Description Sloped

Story 3

Foundation Block, Stone

Sewer Public Sewer

Water Public

Others

Senior Community false

Listed by BOND BROKERAGE

NEARBY SCHOOLS & PROPERTIES

+1(978) 360-3441

info@theomteam.com

190 State Street Unit 5, Newburyport, MA 01950, United States

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23 Whitehall Providence, RI 02909