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15-17 Emmett St, Beacon St and 278 Point St 15-17 Emmett St 6 Unit Apartment Building $1,999,999 ($333,333/Unit) 7.50% Cap Rate Providence, RI 02903
Investment Highlights
- Prime residential development opportunity
- Minutes from down city
- Direct highway access 95 N&S and 195
Executive Summary
Two 3 units with an extra lot! Point, Emmet and Beacon St!
Opportunity to acquire a multi-parcel assemblage offering strong in-place income with substantial development upside. Individually stable and collectively powerful, this portfolio presents both immediate cash flow and long-term density potential.
Highlights:
278 Point Street: 3-family, fully rented, ~$5,600/month income; right to add 3 additional units by right (no variances)
3,088 SF
Land 7,522 SF
15–17 Emmett Street: 3-family, fully rented, ~$4,200/month income; right to add 1 additional unit by right
3,007.5 SF
Land 4,190 SF
Beacon Street: Development potential for 1–2 additional units
Strong existing cash flow while pursuing expansion
Assemblage potential to support a redevelopment exceeding 28+ residential units (subject to planning & zoning review)
Ideal for investors or developers seeking stabilized income with significant future build-out opportunity.
Opportunity to acquire a multi-parcel assemblage offering strong in-place income with substantial development upside. Individually stable and collectively powerful, this portfolio presents both immediate cash flow and long-term density potential.
Highlights:
278 Point Street: 3-family, fully rented, ~$5,600/month income; right to add 3 additional units by right (no variances)
3,088 SF
Land 7,522 SF
15–17 Emmett Street: 3-family, fully rented, ~$4,200/month income; right to add 1 additional unit by right
3,007.5 SF
Land 4,190 SF
Beacon Street: Development potential for 1–2 additional units
Strong existing cash flow while pursuing expansion
Assemblage potential to support a redevelopment exceeding 28+ residential units (subject to planning & zoning review)
Ideal for investors or developers seeking stabilized income with significant future build-out opportunity.
Property Facts
| Price | $1,999,999 | Property Subtype | Apartment |
| Price Per Unit | $333,333 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 6,096 SF |
| Cap Rate | 7.50% | No. Stories | 2 |
| No. Units | 6 | Year Built | 1904 |
| Property Type | Multifamily | ||
| Zoning | R-3 | ||
| Price | $1,999,999 |
| Price Per Unit | $333,333 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.09 AC |
| Building Size | 6,096 SF |
| No. Stories | 2 |
| Year Built | 1904 |
| Zoning | R-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | $4,900 | 3,008 - 3,088 |
1 1
Walk Score®
Very Walkable (85)
Property Taxes
| Parcel Number | PROV-230636-000000-000000 | Improvements Assessment | $404,500 |
| Land Assessment | $100,200 | Total Assessment | $504,700 |
Property Taxes
Parcel Number
PROV-230636-000000-000000
Land Assessment
$100,200
Improvements Assessment
$404,500
Total Assessment
$504,700
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15-17 Emmett St, Beacon St and 278 Point St | 15-17 Emmett St
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