5 Mountain StProvidence, RI 02903

Property Details for 5 Mountain St

Year built

1900

Property type

Land

Description

Exceptional investment opportunity in Providence, Rhode Island, presents a well-maintained six-unit apartment building situated on a 7,195 square foot lot at 5 Mountain Street, zip code 02903. This three-story, 1900-built property boasts identical units offering unobstructed downtown views and practical layouts. Recent upgrades include a roof replacement (approximately five years ago), new electrical panels for all units, and updated heating systems throughout. All windows have also been replaced. The building features a common hallway accessing all six units from the front, with two additional hallways in the rear, each servicing three apartments. A basement laundry room with coin-operated machines adds convenience. Ample parking is available across two on-site parking lots. The property is zoned R-4, presenting potential for Airbnb use. This offering includes the building and its land, priced at $1,295,000, with a compelling 8.00% cap rate. An adjacent three-family house (MLS # 1368208) is also available for purchase from the same owner, presenting the possibility of creating a larger compound. However, the properties are not required to be sold together. This is a rare opportunity to acquire a well-maintained, high-yield multifamily property in a desirable Providence location.

Location Insight

City

Providence

County

Providence

State

Rhode Island

Latitude

41.8239

Longitude

-71.4223

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