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528 Charles St Providence, RI 02904

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For Sale
$850,000

Six-unit multifamily property with strong cash flow and long-term tenants.

Property size:
8,662 SF

Property Features for 528 Charles St

General Information

Standard status
Active
Size
8,662 SF

Building Details

Year built
1900

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Listing Contact
Stephanie Basile Group
Source: Corcoran

Listing Agency: SERHANT NEW ENGLAND Listing Agent: Stephanie Basile Group

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Six-Family Property on Charles Street

This six-family property is located in a C2 zoning district. The building features a total of 13 bedrooms across six units, almost all of them remodeled. The layout consists of five 2-bed apartments and one 3-bed apartment. Tenants are responsible for all utilities. The property is situated on Charles Street, directly behind Hopkins Junior High School near the intersection of Charles St and Branch Ave. The exterior features low-maintenance vinyl siding and replacement windows. There is currently no on-site laundry, but the addition of coin-operated or card-operated machines offers an opportunity to increase revenue. The property is available as a stand-alone purchase or as part of a package including the adjacent 4,000 SF vacant lot at 532 Charles St, also zoned C2. The vacant lot comes with plans for a 9-unit multifamily residential building with on-site parking. The property is intended for multifamily residential use.
Location Intelligence

Current Use by Public Records

Allied Electrical Group ... Electrical Service Ak Department Store Hip Hop is ... Corporate Office

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Providence
County
Providence
State
Rhode Island
Longitude
-71.4200565
Latitude
41.8495405

FAQs

What type of property is this?
Apartment building - Six-unit multifamily property with strong cash flow and long-term tenants.
Where is this apartment building located?
The property is located at 528 Charles St Providence, RI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: - Strong, stable cash flow with long-term tenants and a 7%+ cap rate.; - Desirable C2 zoning and highly visible location near Hopkins Junior High School.; - Low operating expenses due to tenants paying all utilities.
More about this property
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