USARIProvidenceEast-Side12 University Ave

12 University Ave, Providence, RI

House

For Sale

Listed price in listed location currency (USD).

$1,500,000

852

MLS® 1413277

Overview

Key Facts

Type Multi Family

Levels Residential Income

Size 3435 sqft

Garage

Taxes $18,131

Days Active 16

Lot Size

Approx. Age 1900

Avg. Price Per Sqft $436

MLS® Number 1413277

Property Address: 12 University Ave, Providence, RI, 02906-4122

Average square foot calculated using Size range provided by listing agent.

Description

One of the best-located two-families on the East Side, positioned right between Wayland Square and College Hill. Fully gut renovated in 2020 from the foundation up. Structure, systems, interior, exterior, all rebuilt to a high standard. This is as turnkey as it gets. Eight bedrooms and five baths across two apartments. Unit 1 is a true 3 bed / 2 bath with its own independent footprint. Unit 2 spans two levels with 5 beds / 3 baths and lives like a private townhouse. Leased through May 2027 with zero vacancy history. Tenants pay gas and electric. $8, 800/month gross rent. $80, 040 NOI. Central air, in-unit laundry, off-street parking, and full-height basement with ADU potential. The value here is flexibility. Hold it as a stabilized long-term rental. Convert to condos and sell individually down the road. Explore an ADU for a third income stream. Let leases reset in 2027 and push rents to market. Or live in the townhouse unit yourself while the first floor offsets ownership costs. Multiple ways in. Multiple ways out. Priced at $1, 500, 000 with $80, 040 NOI and a clear path toward a 6%+ return over time. Buy it stabilized. Reposition it on your terms.

MLS® Number1413277

Laundry LevelEnsuite

Central VacNo

FireplaceYes

Acreage

Exterior

Garage

Approx. Age1900

BasementExterior Entry, Full, Interior Entry, Unfinished

DrivewayNo Garage

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Map

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