211 Carpenter Street, Providence, RI 02903

Property Description

Set in the heart of sought-after Luongo Square on Providence's eclectic West Side, 211 Carpenter is a legal three-family, each unit with 2 beds and 1 bath, with the added bonus of a gorgeous studio ADU recently converted from the existing two-car garage. Purchase as a cash-flowing four-unit property or purchase to owner occupy the updated third floor, which can be delivered vacant at closing. The layouts of the first two floors are identical: 1220 sqft of living space, with large living rooms, dining rooms, and spacious kitchens. Each unit has two fireplaces with marble mantelpieces: the kind of detail tenants look for when renting in this neighborhood. Due to long-term tenancies on these two floors, the rents are under-market at $1900 (could easily be $2200, or more with some minor cosmetic updates). The stand-alone studio is currently leased for $1600. Updated systems, vinyl siding, newer windows, and a young roof. This is a perfect West Side location within close proximity to many restaurants, coffee shops, and bars, plus easy access to downtown and I-95.