299 Governor St - Multi-Family FOR SALE


Providence, RI 02906- Wayland
$3,250,000 USD
401-486-1948
299 Governor St, Providence, RI for Sale
$3,250,000 USD
Multi-Family - FOR SALE
1/44
null | Request Cap Rate

299 Governor St
Providence, RI 02906
Wayland


OVERVIEW

299 Governor sits at the corner of Governor and Angell streets on the East Side of Providence. Located next to Brown University, this prominent 6500 sqft historic brick mansion built in 1900 is the perfect turnkey student rental. Gutted to the studs, this legal three-family consists of 18 bedrooms and 9.5 baths with an annual gross income of $221,000, 0% vacancy rate, and an upside of annual rent increases. The house sits on an 8000 sqft lot and includes seven parking spaces. Each unit offers 6 bedrooms, 3 baths, central AC, and rented through 9/1/27. Renovated just over a decade ago, the building, systems, and cosmetics remain young w/ zero capital improvements necessary for the foreseeable future. Lead free, asbestos free, knob & tube free, and an easy walk to campus, this is the property parents clamour to lease for their children. 299 Governor presents a generational opportunity to the savvy investor looking for an easy entry into the high-end Ivy League investment market.

FOR SALE DETAILS

PRICE

$3,250,000 USD

PRICE/SF

$478 USD /SF

# OF UNITS

3

PRICE/UNIT

$1,083,333

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

PROV-140354-000000-000000

ASK ABOUT THIS PROPERTY

Nelson TaylorThe Blackstone TeamMore Info
401-486-1948

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Nelson TaylorThe Blackstone TeamMore Info
401-486-1948

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