12 University Avenue,Providence, RI 02906
Providence, RI 02906
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.
Details
| MLS # | 1413277 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1900 |
| Days On Site | 137 |
| Listing Provided By | Compass | Scott Champagne |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 5 Total |
| SQ Feet | 3,435 |
| Basement | Y |
| Story(s) | 3 |
| Units | 2 |
| Building(s) | 1 |
| Zoning | R3 |
| Acreage | 0.08 |
| Golf Course | Yes |
Interior
| Rooms Total | 14 |
|---|---|
| Heating | Natural Gas, Forced Air |
| Heating Yes / No | Yes |
| Cooling | Central Air |
| Cooling Yes / No | Yes |
| Appliances | Gas Water Heater, Tankless Water Heater |
| Interior Features | Wall (Dry Wall), Plumbing (Mixed), Insulation (Unknown) |
| Fireplace Yes / No | No |
| Fireplaces Total | 0 |
| Fireplace Features | None |
| Laundry Features | In Unit |
Exterior
| Exterior Features | Porch |
|---|---|
| Foundation Details | Unknown |
| Lot Features | Sidewalks |
| Patio And Porch Features | Porch |
| Community Features | Bus, Commuter Bus, Golf, Highway Access, Hospital, Interstate, Private School, Public School, Railroad, Recreational Facilities, Restaurants, Schools, Shopping, Near Swimming, Tennis |
| Construction Materials | Dry Wall, Vinyl Siding |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Garage Yes / No | No |
| Parking Features | No Garage |
Utilities
| Utilities | Water Connected |
|---|---|
| Sewer | Public Connected |
| Electric | 200+ Amp Service |
Location
| Community Features | Bus, Commuter Bus, Golf, Highway Access, Hospital, Interstate, Private School, Public School, Railroad, Recreational Facilities, Restaurants, Schools, Shopping, Near Swimming, Tennis |
|---|
Taxes
| Tax Annual Amount | 18131 |
|---|---|
| Tax Assessed Value | 1295100 |
| Tax Lot | 350 |
| Tax Year | 2025 |
Area Information
| State | RI |
|---|---|
| County | Providence |
| City | Providence |
| Zip Code | 02906 |
| Area | Providence |
| Community Name | East Side |
| Listing VS Median (in East Side) | |
Price: $1,490,000 low | high Med: $675,000 sqft: 3,435 low | high Med: 1,847 $ / sqft: $434 low | high Med: $365 On site: 137 low | high Med: 20 | |
Market Activity 02906
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Learn More About This Property
| State | RI |
|---|---|
| County | Providence |
| City | Providence |
| Zip Code | 02906 |
| Area | Providence |
| Community Name | East Side |
| Listing VS Median (in East Side) | |
Price: $1,490,000 low | high Med: $675,000 sqft: 3,435 low | high Med: 1,847 $ / sqft: $434 low | high Med: $365 On site: 137 low | high Med: 20 | |
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