622 Union Ave - Apartments FOR SALE


Providence, RI 02909- Silver Lake
$799,900 USD
401-212-0348
622 Union Ave, Providence, RI for Sale
$799,900 USD
Apartments - FOR SALE
1/24
null | 6.3% Cap Rate

622 Union Ave
Providence, RI 02909
Silver Lake


HIGHLIGHTS

  • Buildable lot currently used for parking also available to be purchased

OVERVIEW

Motivated Seller - to be sold with an adjoining vacant lot, currently used for parking— and was previously a buildable lot, offering further expansion or development potential. Welcome to a truly one-of-a-kind opportunity—this 7-unit mixed-use property is the unicorn every investor is searching for. Featuring six spacious 2-bedroom, 1-bath residential units and a non-operational bar on the ground level, the building offers both immediate cash flow and long-term upside. Two of the units are in excellent condition, while several others offer the chance to add value through cosmetic updates. The former bar—not included in the sale—presents a tremendous opportunity: convert it into two additional residential units or revitalize it as a commercial space and capitalize on the property's mixed-use zoning. Each unit is separately metered for electric, with gas-on-gas heating. There is nothing like this on the market—and hasn’t been for quite some time. Whether you're an investor looking to grow your portfolio or a visionary seeking your next project, this property checks all the boxes: location, flexibility, and upside. Don’t miss this chance to secure a high-potential asset with multiple exit strategies and endless possibilities.

FOR SALE DETAILS

PRICE

$799,900 USD

PRICE/SF

$67 USD /SF

# OF UNITS

7

PRICE/UNIT

$114,271

CAP RATE

6.3%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

622 Union Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Apartments, Dormitory

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1922

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,201 SF

ZONING

R-3

APN/PARCEL ID

PROV-001090-000066-000000

ASK ABOUT THIS PROPERTY

Patrick FarrellLila Delman Real EstateMore Info
401-212-0348

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Patrick FarrellLila Delman Real EstateMore Info
401-212-0348

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