272 Broadway
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272 Broadway
8 Unit Apartment Building $1,525,000 ($190,625/Unit) 3.50% Cap Rate Providence, RI 02903
Executive Summary
Historic 8-Unit Residential /Office Investment Property in heart of West End Providence; adjacent to Columbus Theater, and all the dining, boutique shopping,
entertainment, and professional /personal services all around Broadway and Atwells Avenue. Immediate access to Downtown and major State routes 6 and 10,
and Interstate Routes I-95 and I-195.
On Federal Historic Register as 3 level Main House, plus additional Carriage House (total 6800+/-SF). Updated heating, electric, plumbing, fire alarm systems. Separately metered gas, electric, boilers, and hot water tanks. Fully Occupied with long term tenants. Set up as 1 Double Office, and 7 Residential Units. On site parking 10 vehicles. Notable upside income: All tenants on month to month basis. All existing rents are below current market rates.
entertainment, and professional /personal services all around Broadway and Atwells Avenue. Immediate access to Downtown and major State routes 6 and 10,
and Interstate Routes I-95 and I-195.
On Federal Historic Register as 3 level Main House, plus additional Carriage House (total 6800+/-SF). Updated heating, electric, plumbing, fire alarm systems. Separately metered gas, electric, boilers, and hot water tanks. Fully Occupied with long term tenants. Set up as 1 Double Office, and 7 Residential Units. On site parking 10 vehicles. Notable upside income: All tenants on month to month basis. All existing rents are below current market rates.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,525,000 | Building Class | B |
| Price Per Unit | $190,625 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 6,800 SF |
| Cap Rate | 3.50% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1868/1990 |
| Property Subtype | Apartment | Parking Ratio | 1.47/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,525,000 |
| Price Per Unit | $190,625 |
| Sale Type | Investment |
| Cap Rate | 3.50% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 6,800 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1868/1990 |
| Parking Ratio | 1.47/1,000 SF |
Unit Amenities
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
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Walk Score ®
Walker's Paradise (96)
Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | PROV-281025-000000-000000 | Total Assessment | $627,300 (2024) |
| Land Assessment | $0 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
PROV-281025-000000-000000
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$627,300 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | C1 |
| C1 |
-
Gregory Micallef -
Olympus Group Real Estate
(401) 751-9606
x220
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272 Broadway
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