98 - 102 Penn Street Providence

$1,800,000
8,000 sq ft

The Property

Prime Multi-Family Investment Opportunity – 98, 100, & 102 Penn Street, Providence, RI An exceptional investment opportunity on Providence’s sought-after West Side, this portfolio consists of three adjacent multi-family properties, offering strong income potential, ease of management, & future condo conversion possibilities. **98 Penn Street is a well-maintained three-family home featuring three two-bedroom, one-bath units with hardwood floors, architectural details, & updated mechanicals. Long-term tenancy has kept rents below market, creating immediate value-add potential.**100 Penn Street is a newer construction two-family home with immaculate, modern units featuring spacious layouts & contemporary finishes. A low-maintenance investment with strong rental appeal, this property offers turn-key efficiency.** 102 Penn Street is a large three-family property featuring two three-bedroom, one-bath units & one two-bedroom, one-bath unit.

The building has a maintenance-free exterior, updated interiors, & ample off-street parking. ** With long-term occupancy, below-market rents, & strong appreciation potential, these properties generate immediate cash flow with significant upside. Conveniently located between Atwells Avenue & Broadway, tenants benefit from easy access to downtown Providence, the East Side, hospitals, highways, & the train station. **A rare opportunity to acquire a well-positioned, income-producing portfolio in one of Providence’s most vibrant neighborhoods.

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Listing Details

MLS Number

1387000

Lot Size:

0.18 acres

Features

  • Bus
  • Commuter Bus
  • Highway Access
  • Public School
  • Recreational Facilities
  • Restaurants
  • Schools
  • Shopping
  • Laundry
  • Free Standing
  • Year Built: 1920

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Market Trends for Commercial Properties
in Providence

  • Overview
    Homes for Sale Today72-89.7% decrease in inventory
    New on Market *8-66.7% decrease in new listings
    Avg. Asking Price/Sq.Ft. *$43.55$46,128 decrease in List Price/Sq.Ft.
    Avg. Sale Price *$981,667$248,167 increase in Avg. Sale Price
    Avg. Sale Price as % of Asking Price *92.28%-3.7% decrease in Sales to List Price
    Avg. Sale Price/Sq.Ft. *$202.16$45 increase in Sale Price/Sq.Ft.
    Avg. Days on Market of Sold *576460 increase in days on market

    * All data is calculated based on the last 30 days

  • Avg. Sale Price
  • Avg. Days on the Market
  • New Market Inventory
  • Lila's Estimate

    Realtors Property Resource

    This is an estimate home valuation provide by RPR. It is based on RPR’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    ...

    Zillow

    This is an estimate home valuation provide by Zillow. It is based on Zillow’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    Real value?

    Contact Us

    Online estimates take you only so far. One of our associates can give you a market analysis of what your homes value.

Listed by Westcott Properties

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