12 University Ave, Providence, RI 02906
- Beds
- 8
- Baths
- 5
- Sqft
- 3,435
- Pool
- Yes
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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
Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.
Sourced from: StateWide MLS MLS®#: 1413277 Last checked: …

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