23 Whitehall, Providence, RI, 02909
23 rooms
8 beds
7 Full baths
1900
4,589 sqft
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.
Status:
Active
Type:
Multi-family
Units:
7
Zoning:
R3
Basement:
Full, Interior Entry, Unfinished
Levels:
3
Parking:
4-car, Off Street, Tandem, Common
Acreage:
0.12
Est. Taxes:
$12,324
Assessment
$474,000
Construction
Frame
Lot Description:
Sloped
Amenities:
Public Transportation, Shopping, Park, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T-Station, Sidewalks
MLS #:
1409853
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Donald Martone 401-533-1021