777-787 Admiral St - Apartments FOR SALE


Providence, RI 02908- Wanskuck
$3,750,000 USD
781-776-4002
777-787 Admiral St, Providence, RI for Sale
$3,750,000 USD
Apartments - FOR SALE
1/17
null | 7.65% Cap Rate

777-787 Admiral St
Providence, RI 02908
Wanskuck


HIGHLIGHTS

  • Access & Connectivity
  • Area Amenities & Demand Drivers
  • Strong Rental Demographics & Demand
  • Quality of Life Amenities

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the Admiral Apartments, a multi-family investment property located at 777-787 Admiral Street in Providence, RI (the “Property”). The multi-story brick buildings, situated on two ({2) tax parcels, contain eleven (11) 2-Bedroom/1-Bathroom units and six (6) 1-Bedroom/1-Bathroom units, with five (5) 1-Bedroom/1-Bathroom units at 777 Admiral and 787 Admiral containing eleven (11) 2-Bedroom/1-Bathroom units and one (1) 1-Bedroom/1- Bathroom unit. The Property contains 10,130 square feet of gross living area in 15,272 square feet of gross area, situated upon a combined 0.42-acre parcels and features 20+ off-street parking spaces. The Admiral Apartments has undergone comprehensive capital improvements since its recent acquisition, significantly enhancing both the property’s physical infrastructure and in-unit finishes. The majority of apartment units have undergone high-end interior renovations featuring modernized kitchens and bathrooms, in-unit laundry and updated living spaces, while common areas have also been substantially improved to elevate the overall tenant experience. Major building system upgrades include all new boilers, extensive plumbing and electrical improvements, and replacement of most windows, positioning the asset with strong in-place infrastructure and limited near-term deferred maintenance requirements. Tenants are responsible for their own heat, hot water and electric while the landlord is responsible for water/sewer. The Property features durable brick construction, a highly desirable attribute for multifamily housing that provides long-term structural integrity, fire resistance, and reduced maintenance requirements. Brick construction also delivers superior sound attenuation and thermal efficiency, contributing to lower utility costs and enhanced resident comfort while preserving long-term aesthetic appeal. The Admiral Apartments are strategically positioned along Admiral Street in Providence’s Smith Hill neighborhood, offering residents convenient access to downtown Providence, major healthcare and educational institutions, and the city’s primary commercial corridors. Located just minutes from Interstate 95, Route 6, and Route 146, the property provides strong regional connectivity throughout Rhode Island and into the greater Boston metropolitan area.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$280 USD /SF

# OF UNITS

17

PRICE/UNIT

$220,588

CAP RATE

7.65%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Admiral Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

C1

APN/PARCEL ID

PROV-790103-000000-000000,PROV-790309-000000-000000

ASK ABOUT THIS PROPERTY

Dennis KelleherHorvath & TremblayMore Info
781-776-4002

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Dennis KelleherHorvath & TremblayMore Info
781-776-4002

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