664 Plainfield Street, Providence, Commercial

Description

Incredibly rare investment opportunity in Providence, a unique dual-building parcel. Nestled in the heart of Providence, this exceptional property presents a rare chance for discerning investors. Boasting two distinct buildings on a single lot, this offering combines immediate income potential with future growth prospects. The first building is completely occupied, housing 2 commercial units and 3 residential dwellings. Meanwhile, the second building is currently in the construction stage, about 70% completed and will also have 2 commercial units with 4 residential dwellings. With a total of eleven units spread across both buildings, the potential for substantial profitability is undeniable. The completed, corner building includes 3 three-bedroom units that are updated and properly maintained with 2 storefront units currently operating. Unfinished building pro forma rent is $9,000. NOI is $160,000. Seize this opportunity to diversity your portfolio and capitalize on Providence’s real estate market.