15-17 Emmett St - Apartments FOR SALE


Providence, RI 02903- Upper South Providence
$1,999,999 USD
401-523-9555
15-17 Emmett St, Providence, RI for Sale
$1,999,999 USD
Apartments - FOR SALE
1/63
null | 7.5% Cap Rate

15-17 Emmett St
Providence, RI 02903
Upper South Providence


HIGHLIGHTS

  • Prime residential development opportunity
  • Direct highway access 95 N&S and 195
  • Minutes from down city

OVERVIEW

Two 3 units with an extra lot! Point, Emmet and Beacon St! Opportunity to acquire a multi-parcel assemblage offering strong in-place income with substantial development upside. Individually stable and collectively powerful, this portfolio presents both immediate cash flow and long-term density potential. Highlights: 278 Point Street: 3-family, fully rented, ~$5,600/month income; right to add 3 additional units by right (no variances) 3,088 SF Land 7,522 SF 15–17 Emmett Street: 3-family, fully rented, ~$4,200/month income; right to add 1 additional unit by right 3,007.5 SF Land 4,190 SF Beacon Street: Development potential for 1–2 additional units Strong existing cash flow while pursuing expansion Assemblage potential to support a redevelopment exceeding 28+ residential units (subject to planning & zoning review) Ideal for investors or developers seeking stabilized income with significant future build-out opportunity.

FOR SALE DETAILS

PRICE

$1,999,999 USD

PRICE/SF

$477 USD /SF

# OF UNITS

6

PRICE/UNIT

$333,333

CAP RATE

7.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

15-17 Emmett St, Beacon St and 278 Point St

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1904

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

4,101 SF

ZONING

R-3

APN/PARCEL ID

PROV-230636-000000-000000

ASK ABOUT THIS PROPERTY

Michael AlvesElite Commercial RealtyMore Info
401-523-9555

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Michael AlvesElite Commercial RealtyMore Info
401-523-9555

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