528 Charles Street, Providence, RI, 02904
1900
This 6-family property, located in a desirable C2 zoning district, offers strong, stable cash flow with long-term tenants in place. The building features a total of 13 bedrooms across six units, almost all of them remodeled, providing a solid blend of updated interiors and value-add potential. Layout consists of FIVE 2-bed apartments, ONE 3-bed apartment. Tenants pay all utilities, keeping operating expenses low and enhancing returns. With a cap rate of 7%+, this property is ideal for investors seeking immediate income and long-term appreciation. Situated on highly visible Charles Street, directly behind Hopkins Junior High School near the intersection of Charles St and Branch Ave, the location supports consistent rental demand. The exterior boasts low-maintenance vinyl siding and replacement windows. While there is currently no on-site laundry, the addition of coin-op or card-operated machines offers an easy opportunity to increase revenue. 528 Charles St is available as a stand-alone purchase or as part of a package including the adjacent 4,000 SF vacant lot at 532 Charles St (MLS #1404801), also zoned C2. The package price for both properties is $1,100,000. The vacant lot comes with plans for a 9-unit multifamily residential building with on-site parking.
Status:
Active
Type:
Commercial
Units:
0
Zoning:
C2
Heating:
Ductless, Individual
Cooling:
Central Air, Ductless
Basement:
Full
Est. Taxes:
$20,712
Assessment
$796,600
Permitted Use
Multi-Family,Residential,Retail
Construction
Frame,Masonry
Utilities
Cable Available,Electricity Available,Natural Gas Connected,Municipal Utilities,Sewer Connected,Water Connected
Amenities:
Highway Access, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, High Traffic Location, Street Lights, Sidewalks
Days on Market:
10
MLS #:
1404796
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Serhant Rhode Island 401-382-0600