122 Benefit St 11 Unit Apartment Building $1,750,000 ($159,091/Unit) 7.19% Cap Rate Providence, RI 02903

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 122 Benefit Street in Providence, RI (the “Property”). The multi-story building contains eleven (11) units with three (3) 1-Bedroom/1-Bathroom units and eight (8) Studio units with 2,916 square feet of gross living area in 5,970 square feet of gross area. The Property is situated upon a 0.09-acre parcel and features five (5) off-street parking spaces, as well as laundry systems in the basement.
122 Benefit Street is exceptionally well-positioned in the heart of Providence's historic College Hill neighborhood, offering immediate access to Downtown Providence, Brown University, the Rhode Island School of Design (RISD), and the city's premier employment, educational, and cultural destinations. The Property benefits from excellent connectivity via nearby Interstate 95, Interstate 195, and Route 6, providing efficient regional access throughout Rhode Island as well as to Boston and southeastern Massachusetts. Its walkable location places residents within steps of neighborhood dining, retail, parks, and the Providence River waterfront, further enhancing the property's long-term residential appeal.
122 Benefit Street has undergone capital improvements and has been impeccably maintained under current ownership. Recent improvements include renovated common areas and complete painting of the building’s exterior. Tenants are responsible for gas powered heat, while the Landlord is responsible for gas powered hot water, centrally metered electricity, and city water & sewer. The opportunity exists for the incoming buyer to systematically renovate the apartments and maximize the rent roll to its highest and best use.