528 Charles, Providence, RI, 02904

This 6-family property, located in a desirable C2 zoning district, offers strong, stable cash flow with long-term tenants in place. The building features a total of 13 bedrooms across six units, almost all of them remodeled, providing a solid blend of updated interiors and value-add potential. Layout consists of FIVE 2-bed apartments, ONE 3-bed apartment. Tenants pay all utilities, keeping operating expenses low and enhancing returns. With a cap rate of 7%+, this property is ideal for investors seeking immediate income and long-term appreciation. Situated on highly visible Charles Street, directly behind Hopkins Junior High School near the intersection of Charles St and Branch Ave, the location supports consistent rental demand. The exterior boasts low-maintenance vinyl siding and replacement windows. While there is currently no on-site laundry, the addition of coin-op or card-operated machines offers an easy opportunity to increase revenue. 528 Charles St is available as a stand-alone purchase or as part of a package including the adjacent 4,000 SF vacant lot at 532 Charles St (MLS #1404801), also zoned C2. The package price for both properties is $1,100,000. The vacant lot comes with plans for a 9-unit multifamily residential building with on-site parking.