36 Pratt St 3,900 SF Specialty Building Offered at $1,999,000 at a 5.50% Cap Rate in Providence, RI 02906

An exceptional investment opportunity in the heart of prestigious College Hill. This fully gut-renovated triplex offers two spacious 4-bedroom, 2-bath units and one 3-bedroom, 2-bath unit, encompassing 3,364 square feet of modern, high-demand living space.
Each unit is turnkey, featuring updated kitchens with stainless steel appliances, granite countertops, and functional workspace. Bathrooms boast sleek, modern finishes, and in-unit laundry provides convenience that today’s tenants prioritize. With separate utilities, individual mechanical systems, and dual egress for each unit, the property is fully fire-coded, making it ideal for immediate income generation or effortless condo conversion.
Outdoor spaces include private balconies, shared decks, and a common patio with western exposure offering stunning city views. While there’s no on-site parking, ample street parking is available, and the property’s walkable location—steps from Brown University, RISD, the train station, and Downtown Providence—adds exceptional tenant appeal.
The property underwent a complete renovation in 2021, including a new roof, windows, decks, plumbing, electrical, and HVAC systems, ensuring minimal maintenance for years to come. Generating $130,800 in annual rent with 0% vacancy, it delivers consistent cash flow. Its condo-conversion readiness presents a rare opportunity for substantial resale value in a high-demand market.
Situated in one of Providence’s most sought-after neighborhoods, 36 Pratt Street offers proximity to top universities, cultural landmarks, and the vibrant dining and entertainment scene of College Hill. This is a high-performing, low-maintenance asset that combines stability, appreciation potential, and prime location—a perfect addition to any portfolio.