For Sale

Listed by Don Martone

Source: MLS Property Information Network Inc #73508855

23 Whitehall Street, Providence, RI, 02909

$999,000

8
7
4
4589 sq. ft.
5227 sq. ft.

Other

•

30+ days on the market

What's around 23 Whitehall Street

About this property

Turnkey 7-unit compound with significant upside in a strong Providence rental market. The asset consists of a 6-unit main building featuring (6) one-bed, one-bath units with gas baseboard heat, plus a detached ~989 SF cottage offering a 2-bed, 1-bath layout with electric baseboard heat. Ownership has completed all major capital improvements, including upgraded boilers and hot water systems, minimizing near-term capex. The property is professionally managed and benefits from tenant-paid utilities, creating an efficient and predictable expense structure. Off-street parking adds to tenant appeal and retention. Current gross income is $98,448, with a pro forma of $111,600, driven by below-market rents, presenting a clear and immediate value-add opportunity. This is a stabilized, income-producing asset with operational upside—ideal for investors seeking strong in-place cash flow with the ability to increase yield through rent growth.

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