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Shomari Lewis

shomari.lewis@engelvoelkers.com +1(401) 864-1786

$ 649,000

Est. payment -/mo

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83 Terrace AVE Providence, RI 02909

5 Beds

3 Baths

2,964 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,964 sqft

Price per Sqft $218

Subdivision Silver Lake

MLS Listing ID 1421951

Style Stacked

Bedrooms 5

Full Baths 3

HOA Y/N No

Abv Grd Liv Area 2,964

Year Built 1900

Annual Tax Amount $4,014

Tax Year 2026

Lot Size 2,962 Sqft

Acres 0.068

Property Sub-Type Multi Family

Property Description

Silver Lake 3-Family Investor or Owner-Occupant Opportunity. Three units in one of Providence's steadiest rental pockets. The setup is a 1-bedroom first-floor unit plus two 2-bedroom apartments on the second and third floors, with an attached 2-car garage and off-street parking. Live in one and let the other two carry you, or drop it straight into your portfolio. Projected $72,000 in annual rental income once all units are rented at market rate. All tenants are currently month-to-month. Strong in-place and market rents, Section 8 friendly, and a location that stays rented. Whether you're house-hacking your first multi or adding to a growing portfolio, this is a turnkey three-unit in a neighborhood that holds its demand. Schedule your showing today.

Location

State RI

County Providence

Community Silver Lake

Zoning R-3

Rooms

Basement None

Interior

Interior Features Tub Shower

Heating Baseboard, Gas

Cooling Wall Unit(s)

Flooring Hardwood, Laminate, Other

Fireplaces Type None

Inclusions Pro Forma Rental Income (Annual) Unit 1 -$1, 800/mo $21, 600/yr // Unit 2 - $2, 100/mo $25, 200/yr // Unit 3 - $2, 100/mo $25, 200/yr // Total: $5, 700/mo $72, 000/yr gross Buyer and buyer's agent are responsible for conducting their own due diligence and independently verifying all information. Neither seller nor listing agent/brokerage makes any representation or warranty as to the accuracy of any information provided. Some photos may be virtually staged and/or edited.

Fireplace No

Appliance Gas Water Heater, Water Heater

Exterior

Exterior Feature Porch, Patio

Parking Features Attached

Garage Spaces 2.0

Community Features Highway Access, Near Hospital, Near Schools, Public Transportation, Restaurant, Shopping, Sidewalks

Utilities Available Sewer Connected

Porch Patio, Porch

Total Parking Spaces 2

Garage Yes

Building

Sewer Connected, Public Sewer

Water Connected, Public

Architectural Style Stacked

Structure Type Drywall,Masonry,Other,Shingle Siding,Vinyl Siding

New Construction No

Others

Senior Community No

Tax ID 83TERRACEAVPROV

Acceptable Financing Assumable

Listing Terms Assumable

Special Listing Condition Affordable Housing Subsidy

Listed by Smith and Oak Real Estate Co.

NEARBY SCHOOLS & PROPERTIES

Shomari Lewis

Advisor License ID: 9574211

+1(401) 864-1786

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