Log In/Sign Up
Your email has been sent.
244 Bowen St 244 Bowen St 12 Unit Apartment Building $2,850,000 ($237,500/Unit) 6% Cap Rate Providence, RI 02906
Investment Highlights
- Excellent Location to Brown University
- Upside on Rents
Executive Summary
Rarely available, 244 Bowen Street is a legal 12-Unit apartment building in the heart of Brown University. The property offers (8) 1 Bed/1Bath apartments and (4) Studio/1Bath apartments, with lots of room on the rent roll. 100% occupied every year. Largely occupied by Brown University graduate and Phd students. Quiet building with very little turnover. Fully leased through summer of 2027. A+ location for student housing.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $237,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 6% | Building Size | 6,313 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1914 |
| Zoning | R-3 | ||
| Price | $2,850,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 6,313 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1914 |
| Zoning | R-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 500 - 700 |
| 1+1 | 8 | - | 600 - 800 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | PROV-130102-000000-000000 | Improvements Assessment | $1,032,700 |
| Land Assessment | $492,000 | Total Assessment | $1,524,700 |
Property Taxes
Parcel Number
PROV-130102-000000-000000
Land Assessment
$492,000
Improvements Assessment
$1,032,700
Total Assessment
$1,524,700
1 of 18
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Contact the Sale Advisor
244 Bowen St | 244 Bowen St