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58 East Transit St, Providence, RI – $999,900

  • 6 Beds
  • 4 Baths
  • 7,012 Sqft
  • .11 Acres
  • 6 Beds
  • 4 Baths
  • 7,012 Sqft
  • .11 Acres

58 East Transit St

7.2% Cap Rate, Estimated $113,000 in annual gross rents and cash flow after mortgage of approx $20,000. Seven total units plus a garage on one lot. One three-family home and one four-family home on this one parcel comprise the 7 units. The front building is a 3-family with all 2-bedroom apartments (1 occupied, 2 vacant). The 4-family is located on the rear of the lot consisting of 2 2-bedroom units and 2 1-bedroom units (2 occupied, 2 vacant). Some of the apartments have electric baseboard heat. The two 1-bedroom units were recently remodeled with new kitchens, tile flooring, baths, granite counters etc. Great rental history to medical students/residents/fellows as well as Brown Univ. grad students. Tenants pay their own utilities w/ exception of 2 units where partial electric included. Potential for value add with condo conversion. Off-street parking available for roughly 6 vehicles. Newer roof on front building, replacement vinyl windows, and vinyl siding make this a great low maintenance investment opportunity. Located in the highly desirable Fox Point area on the East Side of Providence. This listing is part of a portfolio consisting of a total of 20 apartments with nearly $300,000 in annual gross rents. See MLS numbers 1247130 (117 Warren Ave, East Providence) and 1244418 (364 High St, Central Falls) for more info along with attached profit and loss statements. These properties can be sold as a package for the savvy investor or individually by MLS listing

Essential Information

  • MLS® #1247133
  • Price$999,900
  • Bedrooms6
  • Bathrooms4.00
  • Full Baths4
  • Square Footage7,012
  • Acres0.11
  • Year Built1930
  • TypeResidential Income
  • Sub-TypeMulti Family
  • StatusActive
  • HOA Dues0.00

Community Information

  • Address58 East Transit St
  • CityProvidence
  • CountyProvidence
  • StateRI
  • Zip Code02906

Subdivision

Fox Point / East Side of Providence

Amenities

  • Parking Spaces8
  • ParkingNone
  • GaragesNone

Interior

  • InteriorHardwood
  • AppliancesGas Water Heater
  • HeatingBaseboard, Gas
  • CoolingNone

Exterior

  • ExteriorVinyl Siding
  • ConstructionVinyl Siding

Additional Information

  • Date ListedFebruary 15th, 2020
  • Days on Market38

Listing Details

  • OfficeKeller Williams Realty Nri
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Photo of Listing #1244786
Active $999,900

58 E Transit St Providence, ri, 02906

Residential Income, Multi Family
  • 7 Beds
  • 4 Baths
  • 4,217 SQFT
  • 71 DOM
Save

7.2% Cap Rate, Estimated $113,000 In Annual Gross Rents And Cash Flow After Mortgage Of Approx $20,000. Seven Total Units Plus A Garage On One Lot. One Three-family Home And One Four-family Home On This One Parcel Comprise The 7 Units. The Front B...

Keller Williams Realty Nri.

IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Information is deemed reliable but is not guaranteed. © 2020 State-Wide Multiple Listing Service. All rights reserved.

Listing information last updated on June 4th, 2020 at 8:02pm EDT.