98 Penn St - Apartments FOR SALE


Providence, RI 02909- West End Providence
$2,000,000 USD
401-952-7887
98 Penn St, Providence, RI for Sale
$2,000,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

98 Penn St
Providence, RI 02909
West End Providence


HIGHLIGHTS

  • Prime Multi-Family Investment Portfolio in Providence’s West Side
  • 98, 100, & 102 Penn Street, Providence, RI
  • Three adjacent multi-family properties

OVERVIEW

Prime Multi-Family Investment Portfolio in Providence’s West Side Located in Providence's highly sought-after West Side neighborhood, this exceptional investment portfolio comprises three adjacent multi-family properties: 98, 100, and 102 Penn Street. The West Side is renowned for its eclectic charm and vibrant community, making properties here rarely available and highly prized. This unique opportunity offers strong income potential, streamlined management, and future possibilities for condo conversion. The portfolio includes: • 98 Penn Street: A well-maintained three-family home featuring three two-bedroom, one-bath units with hardwood floors, architectural details, and updated mechanicals. Long-term tenancy has kept rents below market, presenting immediate value-add potential. • 100 Penn Street: A modern two-family home with immaculate, contemporary units offering spacious layouts and turn-key efficiency. This newer construction property appeals to renters seeking modern amenities. • 102 Penn Street: A large three-family property with two three-bedroom, one-bath units and one two-bedroom, one-bath unit. It features a maintenance-free exterior, updated interiors, and ample off-street parking. Conveniently situated between Atwells Avenue and Broadway, these properties offer tenants easy access to downtown Providence, the East Side, hospitals, highways, and the train station. With long-term occupancy, below-market rents, and strong appreciation potential, this portfolio generates immediate cash flow with significant upside. This rare opportunity allows investors to acquire a well-positioned, income-producing asset in one of Providence’s most vibrant and in-demand neighborhoods.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$896 USD /SF

# OF UNITS

8

PRICE/UNIT

$250,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

98-102 Penn Street

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

R3

APN/PARCEL ID

PROV-330221-000000-000000

ASK ABOUT THIS PROPERTY

Joy RileyWestcott PropertiesMore Info
401-952-7887

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Joy RileyWestcott PropertiesMore Info
401-952-7887

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.