12 University Ave, Providence, RI 02906

Beds
8
Baths
5
Sqft
3,435
Pool
Yes

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Listed byCompass
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Overview

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.

Location

Full feature list

Basic info

Property type
Multi-family
Number of bedrooms
8
Number of bathrooms
5
Square feet
3,435
Lot size (acres)
0.08
Year built
1900

Interior features

Basement
Yes, Finished
Laundry
In Unit, Laundry Room

Exterior features

Pool
Yes
Area amenities
Golf Course

Utilities

Heating
Forced Air, Natural Gas
Cooling
Central Air
Sewer
Public Sewer
Water
Public Water

Taxes

Tax Annual Amount (2025)
$18,131

Public schools

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Sourced from: StateWide MLS MLS®#: 1413277 Last checked:

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