Turnkey 7-unit compound with significant upside in a strong Providence rental market. The asset consists of a 6-unit main building featuring (6) one-bed, one-bath units with gas baseboard heat, plus a detached ~989 SF cottage offering a 2-bed, 1-bath layout with electric baseboard heat. Ownership has completed all major capital improvements, including upgraded boilers and hot water systems, minimizing near-term capex. The property is professionally managed and benefits from tenant-paid utilities, creating an efficient and predictable expense structure. Off-street parking adds to tenant appeal and retention. Current gross income is $98,448, with a pro forma of $111,600, driven by below-market rents, presenting a clear and immediate value-add opportunity. This is a stabilized, income-producing asset with operational upside—ideal for investors seeking strong in-place cash flow with the ability to increase yield through rent growth.
- Basement:
- Full, Interior Entry, Unfinished
- Parking:
- Tandem, Common, Off Street
- Construction:
- Frame
- Exterior Unit Features:
- Rain Gutters
- Flooring:
- Tile
- Sewer:
- Public Sewer
- Water:
- Public
- Electric Feature:
- Circuit Breakers, Individually Metered, 150 Amp Service
- Garage Parking
- Lead Paint:
- None, Certified Treated
- Road Type:
- Paved
- Market Time:
- 4
- Parking Spaces:
- 4
- Tax Year:
- 2025
- Status:
- Active
- Price Per Sqft:
- $218
- Zoning:
- R3
- No Units:
- 7
- Orig Price:
- $999,000
- LEASE:
- Yes
- Waterfront:
- No
- MlsStatus:
- Active
- City:
- Providence
- State:
- RI
- County:
- Providence
- Postal Code:
- 02909
- Longitude:
- W72° 33' 13.6''
- Latitude:
- N41° 48' 43.9''
Residential Income
23 Whitehall, Providence, Rhode Island
- Property Type :
- Residential Income
- Listing Type :
- For Sale
- Price :
- $999,000
- Bedrooms :
- 8
- Rooms :
- 23
- Total Bathrooms :
- 7
- Full Bathrooms :
- 7
- Square Footage :
- 4,589 Sqft
- Year Built :
- 1900
- Lot Area :
- 0.12 Acre
- Listing ID :
- 73508855
- Stephen E. Robb
- View website
- 617-212-0251
-
srobb@robbenterprises.com