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528 Charles St., Providence, RI 02904 528 Charles St 6 Unit Apartment Building $850,000 ($141,667/Unit) 7.84% Cap Rate Providence, RI 02904
Investment Highlights
- High visibility area with strong demand for housing
- Mini splits in each unit that supply heat and ac
- Spacious units that have been recently renovated
Executive Summary
PLEASE SEE UPDATED ATTACHED RENT ROLL AND EXPENSES. Fantastic investment opportunity in the heart of Providence. This 6-family property, located in a desirable C2 zoning district, offers strong, stable cash flow with long-term tenants in place. The building features a total of 13 bedrooms across six units, with most units thoughtfully remodeled, providing a solid blend of updated interiors and value-add potential. Layout consists of FIVE 2-bed apartments and ONE 3-bed apartment. Tenants pay all utilities, keeping operating expenses low and enhancing returns. With a cap rate of 7%+, this property is ideal for investors seeking immediate income and long-term appreciation.
Situated on highly visible Charles Street, just steps from public transportation and directly behind Hopkins Junior High School near the intersection of Charles St and Branch Ave, the location supports consistent rental demand. The exterior boasts low-maintenance vinyl siding and replacement windows. While there is currently no on-site laundry, the addition of coin-op or card-operated machines offers an easy opportunity to increase revenue.
Situated on highly visible Charles Street, just steps from public transportation and directly behind Hopkins Junior High School near the intersection of Charles St and Branch Ave, the location supports consistent rental demand. The exterior boasts low-maintenance vinyl siding and replacement windows. While there is currently no on-site laundry, the addition of coin-op or card-operated machines offers an easy opportunity to increase revenue.
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Sprinkler System
- Range
- Tub/Shower
- Double Pane Windows
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | $1,525 | - |
| 3+1 | 1 | $1,811 | - |
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Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | PROV-760469-000000-000000 | Improvements Assessment | $679,400 |
| Land Assessment | $117,200 | Total Assessment | $796,600 |
Property Taxes
Parcel Number
PROV-760469-000000-000000
Land Assessment
$117,200
Improvements Assessment
$679,400
Total Assessment
$796,600
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Contact the Sale Advisor
528 Charles St., Providence, RI 02904 | 528 Charles St