1090 Mineral Spring Ave
North Providence, RI 02904

Marcus & Millichap is pleased to present the exclusive listing of the Mineral Spring Apartments located at 1090 Mineral Spring Ave in North Providence, RI. The property consists of (2) twelve-unit, brick garden-style apartment buildings which are comprised of (14) one-bedroom and (10) two-bedroom apartments. The buildings sit on a 0.75-acre lot and features ample off-street parking. The property is 100% occupied and has been well maintained over the years of ownership. Recent updates include a new tar and gravel roof on the rear building, repaved parking lot, as well as new carpeting. Each building includes coin operated laundry that is leased from a third party and the owner keeps 1/3 of the revenue. The heat and hot water are included in rent and are fueled by HB Smith gas boilers which are inspected bi-annually. Conveniently located off of Route 146 and Interstate 95, and directly on the bus line, the Mineral Spring Apartments offer tenants a central location to all that the greater Providence area has to offer. Nearly 70% of the city’s population consists of renters. The rental market in Providence and its surrounding cities and towns continue to grow as the universities and employers in the state expand. In the last year alone rental rates have increased by 2.7%. Additionally, Providence benefits from its proximity to Boston as renters who are priced out of Boston choose to live in Providence and commute to work via Commuter Rail or I-95. The town of North Providence supports seven elementary schools, two middle schools, and a high school.