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166 Valley St
Providence, RI 02909
Rising Sun Mills · Multifamily Property For Sale
·
134 Units
INVESTMENT HIGHLIGHTS
- Excellent Neighborhood Amenities
- Attractive In-Place Financing
- Value Add Opportunity
EXECUTIVE SUMMARY
Cushman & Wakefield’s Multi-Family Advisory Group is pleased to present the opportunity to acquire RISING SUN MILLS, a unique opportunity to acquire a brick and beam apartment community strategically located in the heart of Providence, Rhode Island. The four-story brick mill building, which consists of 135 loft-style market-rate units and 30,000 +/- SF of commercial space, is situated on Providence’s West Side at the intersection of the rapidly transforming neighborhoods of Federal Hill, Broadway and the Armory District. The property was converted from its former industrial use in 2005 and is surrounded by a rich array of bars & restaurants, shopping, employers, and green space.
PROPERTY FACTS
| Sale Type | Investment | Building Size | 196,572 SF |
| No. Units | 134 | Average Occupancy | 93% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1890 |
| Apartment Style | Mid-Rise | Parking Ratio | 0.2/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 2.47 AC | ||
| Zoning | M-MU-7 - Commercial Condominium | ||
| Sale Type | Investment |
| No. Units | 134 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 2.47 AC |
| Building Size | 196,572 SF |
| Average Occupancy | 93% |
| No. Stories | 4 |
| Year Built | 1890 |
| Parking Ratio | 0.2/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | M-MU-7 - Commercial Condominium |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Range
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Fitness Center
- Gated
- Gameroom
- Grill
- Walking/Biking Trails
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 11 | - | 603 |
| 1+1 | 42 | - | 888 |
| 1+1.5 | 20 | - | 948 - 1,073 |
| 1+2 | 30 | - | 867 - 936 |
| 2+1 | 5 | - | 907 |
| 2+1.5 | 1 | - | 921 |
| 2+2 | 22 | - | 975 |
| 2+2.5 | 3 | - | 1,387 |
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