31 Gilmore St

Providence RI 02907

2835 sq. ft.

3485 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

This well-maintained 6-bedroom 3-bathroom multifamily property presents a strong investment opportunity for both owner occupants and traditional investors. "The Gilmore" is currently operated as a successful short term rental property, generating 6 figure rental income. This property can also be operated as a traditional multi-family rental with estimated rent roll exceeding $57k. This can also be a great opportunity for multi-generational and owner-occupied living while building equity. Recent capital improvements include the installation of two new boilers, blow-in insulation for efficiency, a new water main, and no-maintenance PEX plumbing throughout. If the buyer wishes to continue operating the property as a short term rental, the seller is willing to stay onboard to support the transitional period and offer consulting as part of the transaction. Furnishings, linens, and all fixtures (excluding artwork) are negotiable. Established operational systems, including housekeeping, laundry services, and a dedicated handyman, are in place to support continued operations if the buyer chooses to continue with short term rentals. This property can be delivered as a turn-key short term rental, or vacant and ready for its new owner and tenants.

Features

6 bedrooms

3 bathrooms

6 carspaces

2835 sq. ft. floor area

3485 sq. ft. lot size

Multi-Family

Property history for 31 Gilmore St

2019

Sold

$237,300

11 Jan 2019 by Nelson Esteves, of RE/MAX Professionals

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