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29898006
29897989

15 Emmett St, Beacon St and 278 Point Street, Providence, RI 02903 For Sale

MA
RI REC.0016995
Elite Commercial Realty
Listed by Elite Commercial Realty
$1,999,999
153 days on market
Updated 19 days ago

Two 3 units with an extra lot! Point, Emmett and Beacon St!

Details
APN PROV-230636-000000-000000
Property Type Multifamily
Sub Type Apartment Building, Single Family Rental Portfolio
Square Footage 6,096
Net Rentable (SqFt) 6,096
Units 6
Cap Rate 7.00%
NOI $77,787
Pro-Forma Cap Rate 8.80%
Pro-Forma NOI $97,691
Price per SqFt $328
Class C
Year Built 1904
Buildings 2
Lot Size (SqFt) 11,712
Zoning R-4
Investment Type Value Add

Two 3 units with an extra lot! Point, Emmet and Beacon St!

Marketing description

Two 3 units with an extra lot! Point, Emmet and Beacon St!

Opportunity to acquire a multi-parcel assemblage offering strong in-place income with substantial development upside. Individually stable and collectively powerful, this portfolio presents both immediate cash flow and long-term density potential.

Highlights:

278 Point Street: 3-family, fully rented, ~$5,600/month income; right to add 3 additional units by right (no variances)

3,088 SF

Land 7,522 SF

15–17 Emmett Street: 3-family, fully rented, ~$4,200/month income; right to add 1 additional unit by right

3,007.5 SF

Land 4,190 SF

Beacon Street: Development potential for 1–2 additional units

Strong existing cash flow while pursuing expansion

Assemblage potential to support a redevelopment exceeding 28+ residential units (subject to planning & zoning review)

Ideal for investors or developers seeking stabilized income with significant future build-out opportunity.

Investment highlights

Highlights:

278 Point Street: 3-family, fully rented, ~$5,600/month income; right to add 3 additional units by right (no variances)

3,088 SF

Land 7,522 SF

15–17 Emmett Street: 3-family, fully rented, ~$4,200/month income; right to add 1 additional unit by right

3,007.5 SF

Land 4,190 SF

Beacon Street: Development potential for 1–2 additional units

Strong existing cash flow while pursuing expansion

Assemblage potential to support a redevelopment exceeding 28+ residential units (subject to planning & zoning review)

Ideal for investors or developers seeking stabilized income with significant future build-out opportunity.

Listing Contacts

MA
RI REC.0016995
Elite Commercial Realty
Listed by Elite Commercial Realty

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$77,787.00
$6,482.25/mo

Valuation Metrics

0
DSCR
3.89%
Cap Rate
3.89%
ROI

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Additional Information

Name
Michael Alves
License
REC.0016995
Brokerage
REMAX REVOLUTION
Brokerage Phone
(401) 921-5011
Title
Real Estate Broker
Brokerage Address
100 Quaker Lane
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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