161 Benefit St - Apartments FOR SALE


Providence, RI 02903- College Hill
$6,850,000 USD
401-274-6740
161 Benefit St, Providence, RI for Sale
$6,850,000 USD
Apartments - FOR SALE
1/20
null | 6% Cap Rate

161 Benefit St
Providence, RI 02903
College Hill


OVERVIEW

Introducing the George Earle Building - A unique opportunity to acquire an incoming-producing, signature property on Providence’s famed Benefit Street. In the heart of College Hill, just steps to Brown University and RISD, this multi-use building has been expertly maintained and upgraded by its current owner. This 4-level brick building has 12 units in total – 3 Commercial spaces encompassing the first floor, and 9 residential units on the upper 3 floors. All common areas underwent extensive renovations in 2024, resulting in elegant stairways and corridors, lending to the upscale residential atmosphere. The 3 Commercial spaces on the first floor are currently combined – and leased out to a Top local restaurant – a fantastic long-term tenant for the new owner. This first floor space opens directly to pedestrians on Benefit Street and features walls of glass, exposed brickwork, and city views. The front of the building has been restored to its former glory – gorgeous custom wood doors and windows, and handsome millwork. All 9 residential units feature soaring ceilings, in-unit laundry, stone flooring, and original historic details including plaster moldings and marble fireplaces. Many of the units feature stunning views of Benefit Street and the surrounding neighborhood. The listing package includes the buildable lot at 54 Meeting Street - Zoned R-3 HD, which is currently used as 10 parking spaces. Take advantage of this turn-key investment property unlike any other.

FOR SALE DETAILS

PRICE

$6,850,000 USD

PRICE/SF

$522 USD /SF

# OF UNITS

12

PRICE/UNIT

$570,833

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

George Earle Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1900

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,496 SF

ZONING

R-2

APN/PARCEL ID

PAWT-000010-000000-000067,PAWT-000010-000000-000208,PROV-100065-000000-000000

ASK ABOUT THIS PROPERTY

Derek SimpsonResidential Properties Ltd.More Info
401-274-6740

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Derek SimpsonResidential Properties Ltd.More Info
401-274-6740

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