Six-Unit Multifamily Investment
For Sale
$850,000
528 Charles Street, Providence, RI 02904
Profitable six-unit building with value-add potential in Providence, RI.
Property Size5,990 SF
Price / SF$141.90
Days on Market170
Property Features for 528 Charles Street
General Information
Standard status
Active
Size
5,990 SF
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
Serhant New England
(401) 465-3975
Listed By:
Stephanie Basile Group
(401) 465-3975
Source:
Liongatere
Added: Feb 18
Changed: Jul 10
Last Checked: Aug 7 at 10:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Serhant New England
Investment Insights
Based on property information with market context.
This six-family property is located in a C2 zoning district. The building features a total of 13 bedrooms across six units. The layout consists of five 2-bed apartments and one 3-bed apartment. The units have been mostly remodeled. 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 offers stable cash flow with long-term tenants in place and is ideal for investors seeking immediate income and long-term appreciation. 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.
Key Highlights
- Strong, stable cash flow with long‑term tenants and a 7%+ cap rate.
- Desirable C2 zoning, supporting consistent rental demand.
- Low operating expenses due to tenants paying all utilities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
Explore this area
Business Placement
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Profitable six-unit building with value-add potential in Providence, RI.
Where is this apartment building located?
The property is located at 528 Charles Street 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, supporting consistent rental demand.; Low operating expenses due to tenants paying all utilities.
