For Sale

Listed by Gerri Schiffman from Residential Properties, Ltd.

Source: State Wide MLS of Rhode Island, Inc. #1427956

47 Sheldon St, Providence, RI, 02906

$1,495,000

8
4
5
4932 sq. ft.
3920 sq. ft.

MultiFam

•

5 days on the market

What's around 47 Sheldon St

About this property

Ideally located in the highly desirable College Hill neighborhood, 47 Sheldon Street presents a compelling investment opportunity combining established rental income of $12,300 per month, substantial development potential, and proximity to some of the city's strongest rental demand drivers including Brown University, RISD, Wickenden Street, and major hospital centers. The 1st floor offers a 3 bed unit and a 1 bed unit. The 2nd floor currently has 2 separate apartments which share utilities and could easily be merged into a large 4 or 5 bed, 2 bath unit. This property has benefited from numerous recent improvements, including fresh exterior paint, replacement windows, updated exterior finishes, and upgraded mechanical systems. Significant additional value and rental income may be unlocked through the potential development for additional finished living or studio space across 3 distinct areas: attic (900 sq ft), basement (1200 sq ft), and detached garage (300 sq ft). The property's location further strengthens its investment profile. The colleges provide consistent student and academic housing demand, while proximity to the area's hospitals, downtown Providence, and major employment centers broadens the potential tenant pool to include medical professionals, researchers, and others. With a 2027 rent roll of $147,600, a prime College Hill location, and 2,400 sq ft of potential expansion, this property offers an outstanding combination of immediate income and long-term upside.

Looking for more information on 47 Sheldon St?

Explore comparables, sales history and growth for this property.
Learn more

Similar properties for sale nearby

Under Contract
$1,175,000
130 Elmgrove Avenue
Providence RI 02906
8
4
6
Multi-Family
Listing courtesy of CENTURY 21 BLUE MARLIN PELICAN
For Sale
$949,900
642 Hope Street
Providence RI 02906
8
3
4
Multi-Family
Listing courtesy of REMAX Revolution | Warwick
For Sale
$1,250,000
44/42 East TRANSIT Street
Providence RI 02906
8
5
Multi-Family
Listing courtesy of NAI Advisors

Other properties for sale by Residential Properties, Ltd.

For Sale
$1,950,000
4C/217 Angell Street
Providence RI 02906
3
2
2
Condo
Listing courtesy of Residential Properties, Ltd.
For Sale
$355,000
B/265 Scituate Avenue
Cranston RI 02921
2
2
3
Condo
Listing courtesy of Residential Properties, Ltd.
For Sale
$1,750,000
502/5 Richmond Square
Providence RI 02906
3
3
1
Condo
Listing courtesy of Residential Properties, Ltd.

Browse properties sold in nearby areas

The data relating to real estate for sale on this website comes in part from the IDX Program of the State-Wide Multiple Listing Service, Inc. Real estate listings held by Residential Properties, Ltd. are marked with the MLS logo and detailed information about them includes the name of the listing brokers. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site other than by a consumer seeking to purchase real estate is prohibited. Information deemed reliable but not guaranteed. Copyright © 2026 State-Wide MLS, Inc. All Rights Reserved.

The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the "DMCA") provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under MLS GRID IDX Rules Updated September 16, 2024 7 U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to: dmca@ratemyagent.com

The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner's behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

Email
© 2026 RateMyAgent