622 Union Ave - Multi-Family FOR SALE


Providence, RI 02909- Silver Lake
$899,900 USD
401-212-0348
622 Union Ave, Providence, RI for Sale
$899,900 USD
Multi-Family - FOR SALE
1/24
null | 5.6% 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 - 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. An adjoining vacant lot MLS# 1388085—currently used for parking—is also available for purchase and was previously a buildable lot, offering further expansion or development potential. 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

$899,900 USD

PRICE/SF

$180 USD /SF

# OF UNITS

7

PRICE/UNIT

$128,557

CAP RATE

5.6%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

622 Union Ave

PROPERTY TYPE

Multi-Family

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

3,049 SF

ZONING

-

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 Policy.