278 Point StProvidence, RI 02903

This exceptional investment opportunity encompasses a six-unit multifamily portfolio situated at 278 Point Street in Providence, Rhode Island, 02903. The portfolio consists of two multi-family homes, each featuring three one-bedroom, one-bathroom units, complemented by full basements and ample off-street parking. The total square footage ranges from 3,600 to 7,500 square feet across all units. Currently boasting 100% occupancy, this property presents a strong cash flow potential. The asking price is $999,999, translating to $200,000 per unit. Adding to its appeal is an included vacant lot, presenting significant potential for future development or expansion. The property's strategic location offers easy access to major highways (I-95 and I-195), public transportation, and a wealth of amenities, including proximity to esteemed medical institutions such as Bay Tower Medical Center, Women & Infants Hospital, Rhode Island Hospital, Lifespan, and Hasbro Children's Hospital. This central location also places it near the city center, shopping, and other conveniences. The property is classified as Class C and is offered as an owner/user investment. The existing structures offer immediate rental income, while the vacant lot provides considerable upside potential for future development, making this a noteworthy opportunity for both investors and developers seeking a high-return, multi-faceted investment in a thriving Rhode Island market.