56 Killingly St Providence, RI 02909

Property Details for 56 Killingly St

Year built

1937

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a two-unit multi-family property situated on a 3,500 square foot lot in Providence, Rhode Island. The property, comprised of two three-story buildings constructed in 1937, offers significant income potential. One unit, a four-bedroom, one-bathroom home located on a corner lot, is move-in ready with minor repairs needed. This unit features a full basement with laundry facilities and ample storage space. The bedrooms are on the second floor, and a small bedroom could be converted into a second bathroom. Recent improvements include a new roof, exterior doors, and basement windows. A fresh coat of paint has been applied throughout. The property also includes two off-street parking spaces in the driveway, with additional on-street parking available through municipal request. The property's convenient location offers easy access to hiking trails, recreation areas, highways, and downtown Providence's banking and shopping centers. The second unit has been completely remodeled (see RI MLS# 1354471 for details). Previously, each unit generated $31,200 in annual lease income. The buyer has the opportunity to select flooring for the first unit; hardwood floors could be updated to modern, life-proof planks. The property is being sold "as is," and the seller is motivated.