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94-96 Medway St 12 Unit Apartment Building $2,795,000 ($232,917/Unit) Providence, RI 02906
Investment Highlights
- Easy-to-manage building, ideal for both new and experienced investors.
- Potential NOI increase of $26K with minimal cost.
- Potential garden level unit to increase unit count.
Executive Summary
94–96 Medway Street is a 12-unit multifamily property in Providence’s highly desirable Wayland Square neighborhood on the East Side. The 9,504 SF building consists of twelve one-bedroom units and offers investors a stabilized income-producing asset with upside through unit upgrades, rent growth, and operational improvements.
Property Facts
| Price | $2,795,000 | Building Class | C |
| Price Per Unit | $232,917 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 9,504 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Parking Ratio | 1.49/1,000 SF |
| Zoning | R-P | ||
| Price | $2,795,000 |
| Price Per Unit | $232,917 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 9,504 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Parking Ratio | 1.49/1,000 SF |
| Zoning | R-P |
Amenities
Unit Amenities
- Air Conditioning
- Heating
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | - | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | PROV-140344-000000-000000 | Improvements Assessment | $1,721,500 |
| Land Assessment | $330,000 | Total Assessment | $2,051,500 |
Property Taxes
Parcel Number
PROV-140344-000000-000000
Land Assessment
$330,000
Improvements Assessment
$1,721,500
Total Assessment
$2,051,500
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Contact the Sale Advisor
94-96 Medway St