Home > > Homes for sale > 590 Charles St, Providence, RI 02904

590 Charles St, Providence, RI 02904

$1,175,000




Price : 1175000.00

🛌🏻 13 Bedrooms
🛀🏻 10 Bathrooms
🚗 Parking
Size   2800 sq/ft
Built Area   2800 sq/ft
Flooring   
Cooling   
Heating   
Property Type   House for sale
Features   Type : Apartment, Multi Family, Year Built : 1900, Heating : Natural Gas, Baseboard, Cooling : None, Parking : No Garage, Days on Zillow : 8 Days, Price/sqft : $420, Offer Review Date : No Data
Exterior   
Kitchen   

Overview

Cash flow day one at 590 Charles, a rare 10-unit brick building located on a corner lot in Providence with a unit mix of (5) one-bed/one-bath units, (4) 2-bed/1-bath units and (1) commercial storefront unit. Several of the units have been renovated. 7.6% in-place cap with a 9.2% cap and 11.4% cash on cash returns at pro-forma. Tenants pay all utilities. Total pro-forma income of $164,400 and current income of $141,240. Professionally managed and maintained with minimal deferred maintenance waiting for the next buyer, if any. This building is fully occupied and has a history of high occupancy. This is a great opportunity to acquire an asset that cash flows day one and still has significant upside in the rent roll. Financials available upon request.