New Listing - 05/22/2026
12 University Avenue, Providence, RI, 02906
14 rooms
8 beds
5 Full baths
1900
Stacked
One of the best-located two-families on the East Side, positioned right between Wayland Square and College Hill. Fully gut renovated in 2020 from the foundation up. Structure, systems, interior, exterior, all rebuilt to a high standard. This is as turnkey as it gets. Eight bedrooms and five baths across two apartments. Unit 1 is a true 3 bed / 2 bath with its own independent footprint. Unit 2 spans two levels with 5 beds / 3 baths and lives like a private townhouse. Leased through May 2027 with zero vacancy history. Tenants pay gas and electric. $8,800/month gross rent. $80,040 NOI. Central air, in-unit laundry, off-street parking, and full-height basement with ADU potential. The value here is flexibility. Hold it as a stabilized long-term rental. Convert to condos and sell individually down the road. Explore an ADU for a third income stream. Let leases reset in 2027 and push rents to market. Or live in the townhouse unit yourself while the first floor offsets ownership costs. Multiple ways in. Multiple ways out. Priced at $1,500,000 with $80,040 NOI and a clear path toward a 6%+ return over time. Buy it stabilized. Reposition it on your terms.
Status:
Active
Type:
Multi-family
Laundry Remarks:
In Unit
Units:
2
Zoning:
R3
Subdivision:
EAST SIDE
Garage:
No Garage
Heating:
Forced Air, Gas
Cooling:
Central Air
Basement:
Exterior Entry, Full, Interior Entry, Unfinished
Parking:
2-car
Acreage:
0.08
Est. Taxes:
$18,131
Assessment
$1,295,100
Construction
Drywall,Vinyl Siding
Utilities
Sewer Connected
Amenities:
Golf, Highway Access, Near Hospital, Near Schools, Other, Pool, Public Transportation, Recreation Area, Restaurant, Shopping, See Remarks, Tennis Court(s), Sidewalks
Appliances:
Gas Water Heater, Tankless Water Heater
MLS #:
1413277
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Compass Massachusetts, LLC 401-274-1644