664 Plainfield, Providence, RI

Others for Sale - $1,100,000 - 12,504 Sq. Ft. on 0.12 acres


Agent Info

Kyle Seyboth
CENTURY 21 The Seyboth Team

Property Info

CIMLS#1155592
Location
  664 Plainfield
  Providence RI 02909
UpdatedApril 29th, 2024
TypeOthers
Price$1,100,000
Building12,504 Sq. Ft.
Land0.12 acres

Property Description

Incredibly rare investment opportunity in Providence, a unique dual-building parcel. Nestled in the heart of Providence, this exceptional property presents a rare chance for discerning investors. Boasting two distinct buildings on a single lot, this offering combines immediate income potential with future growth prospects. The first building is completely occupied, housing 2 commercial units and 3 residential dwellings. Meanwhile, the second building is currently in the construction stage, about 70% completed and will also have 2 commercial units with 4 residential dwellings. With a total of eleven units spread across both buildings, the potential for substantial profitability is undeniable. The completed, corner building includes 3 three-bedroom units that are updated and properly maintained with 2 storefront units currently operating. Unfinished building pro forma rent is $9,000. NOI is $160,000. Seize this opportunity to diversity your portfolio and capitalize on Providence's real estate market.


Financials


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