122 Benefit St - Apartments FOR SALE


Providence, RI 02903- College Hill
$1,750,000 USD
781-776-4004
122 Benefit St, Providence, RI for Sale
$1,750,000 USD
Apartments - FOR SALE
1/8
null | 7.19% Cap Rate

122 Benefit St
Providence, RI 02903
College Hill


HIGHLIGHTS

  • Access & Connectivity
  • Area Amenities & Demand Drivers
  • Nearby Higher Education
  • Off-Street Parking
  • Strong Rental Demographics & Demand
  • Quality of Life Amenities

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 122 Benefit Street in Providence, RI (the “Property”). The multi-story building contains eleven (11) units with three (3) 1-Bedroom/1-Bathroom units and eight (8) Studio units with 2,916 square feet of gross living area in 5,970 square feet of gross area. The Property is situated upon a 0.09-acre parcel and features five (5) off-street parking spaces, as well as laundry systems in the basement. 122 Benefit Street is exceptionally well-positioned in the heart of Providence's historic College Hill neighborhood, offering immediate access to Downtown Providence, Brown University, the Rhode Island School of Design (RISD), and the city's premier employment, educational, and cultural destinations. The Property benefits from excellent connectivity via nearby Interstate 95, Interstate 195, and Route 6, providing efficient regional access throughout Rhode Island as well as to Boston and southeastern Massachusetts. Its walkable location places residents within steps of neighborhood dining, retail, parks, and the Providence River waterfront, further enhancing the property's long-term residential appeal. 122 Benefit Street has undergone capital improvements and has been impeccably maintained under current ownership. Recent improvements include renovated common areas and complete painting of the building’s exterior. Tenants are responsible for gas powered heat, while the Landlord is responsible for gas powered hot water, centrally metered electricity, and city water & sewer. The opportunity exists for the incoming buyer to systematically renovate the apartments and maximize the rent roll to its highest and best use.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$359 USD /SF

# OF UNITS

11

PRICE/UNIT

$159,091

CAP RATE

7.19%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

R2

APN/PARCEL ID

PROV-100651-000000-000000

ASK ABOUT THIS PROPERTY

John PentoreHorvath & TremblayMore Info
781-776-4004

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John PentoreHorvath & TremblayMore Info
781-776-4004

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.