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$3,750,000
71 Olney St, Providence, RI 02906
0 Beds
0 Baths
9,400 sqft

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171-173 Prospect/71-73 Olney is a residential apartment investment opportunity like no other the East Side of Providence has ever seen. These two three-family apartment homes are located at the corner of Prospect and Olney streets, in the heart of College Hill with easy access to amenities like Whole Foods, Starbucks, and the shops at University Heights. These apartments are close to everything, offering comfortable, suburban living while maintaining quick entry to downtown and the commuter rail. The two properties, comprising 9,500 sqft, 30 bedrooms, 14 bathrooms and 8 parking spaces, were developed with the Brown University, RISD and Johnson & Wales (all within 1/2 to 1 mile away) higher-end student market in mind. Gutted to the studs, each unit has new electrical, new plumbing, new HVAC (heating and central A/C), fire safety sprinklers and alarm systems. The interiors offer granite/stainless kitchens, ceramic tile bathrooms, modern appliances, designer color schemes and refinished wood flooring. Each unit also comes fully furnished. Rented by the bedroom, each contains queen-sized bed, dresser, night-stand, desk and chair. Common spaces have club chairs, couches, coffee tables, end tables, 55 flatscreen TV and full dining room sets. This is a fully turnkey investment. With over $350,000 in gross income, this is smart money for the savvy investor.
  • Price:
  • $3,750,000
  • Square Footage:
  • 9,400
  • Acreage:
  • 0.18
  • Year Built:
  • 1920
  • Listing ID #:
  • 1295486
  • Street Address:
  • 71 Olney St
  • City:
  • Providence
  • State:
  • Rhode Island
  • Postal Code:
  • 02906
  • County:
  • Providence
  • Subdivision:
  • College Hill, East Side
  • Listing Status:
  • Active
  • Listing Type:
  • Commercial Sale
  • Basement Description:
  • Full
  • Construction Description:
  • Frame
  • Finished Above Ground Square Footage:
  • 9400
  • Has Basement:
  • 1
  • Number Of Units:
  • 1
  • Stories:
  • 4
  • Stories:
  • 4
  • Total # Of Buildings:
  • 2
  • Total Building Square Footage:
  • 9400
  • Year Built:
  • 1920
  • Business Type:
  • Residential
  • Lot Features:
  • Corner Lot
  • Lot Square Footage:
  • 7839
  • Road Frontage Type:
  • City Street
  • Suitable Use:
  • Multi-Family, Residential
  • Community Features:
  • Highway Access, Near Hospital, Near Schools, Public Transportation, Recreation Area, Shopping, Street Lights, Sidewalks
  • Days On Market:
  • 103
  • On Market Date:
  • 2021-10-06
  • Originating Mls:
  • Ris
  • Owner Pays:
  • Common Area Maintenance, Exterior Maintenance, Grounds Care, Repairs, Roof Maintenance, Sewer, Taxes, Trash Collection
  • Property Taxes:
  • $31,835
  • Tax Year:
  • 2021
  • Parking Spaces:
  • 8
  • Cooling System:
  • Central Air
  • Electricity:
  • 200+ Amp Service
  • Existing Water:
  • Connected, Public
  • Has Central Air Conditioning:
  • 1
  • Heating:
  • Forced Air
  • Sewage Type:
  • Connected, Public Sewer
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listed by Mott & Chace Sotheby's Intl.
  • Statewide MLS SWMLS

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