23 Whitehall Street, Providence, RI, 02909
23 rooms
8 beds
7 Full baths
1900
Stacked, Side By Side
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:
2
Zoning:
R3
Garage:
No Garage
Heating:
Baseboard, Gas, Other
Cooling:
None
Basement:
Full, Interior Entry, Unfinished
Parking:
6-car
Acreage:
0.12
Est. Taxes:
$12,324
Assessment
$474,000
Construction
Vinyl Siding
Utilities
Sewer Connected
Amenities:
Golf, Highway Access, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping
Days on Market:
10
Appliances:
Gas Water Heater
MLS #:
1409853
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Bond Brokerage 401-533-1021