Link Copied
Listed price in listed location currency (USD).
$875,000

557

MLS® 73509413

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size 2672 sqft
Garage 
Taxes $9,508
Days Active 0
Lot Size 
Approx. Age 1920
Avg. Price Per Sqft $327
MLS® Number 73509413

Property Address: 391 Waterman Ave, East Providence, RI, 02914

Average square foot calculated using Size range provided by listing agent.

Description

This well-maintained 5-unit property features a unit mix of 3 studios and 2 one-bedroom apartments. It currently generates $6, 200 in monthly rental income with clear upside potential through rent increases to market levels. Two out of five apartments have been renovated.The property has had key capital improvements already completed, including a new roof (2022), repaved driveway (2016), and majority of windows replaced (2025), minimizing short-term capital expenditure for a new owner.The building is serviced by a single Weil-McLain gas boiler providing heat to all units. Current ownership covers gas and electric, presenting a clear value-add opportunity to separate utilities and improve operating efficiency, ultimately increasing net operating income.Ideal for investors seeking a stable, cash-flowing asset with proven income and the ability to create higher returns through operational improvements and rent growth.
MLS® Number73509413
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1920
BasementBulkhead, Slab
DrivewayPaved Drive, Off Street
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 29, 2026List Date
$875,000List Price
  • Commute

Commute

Starting Address
Destination Address
391 Waterman Ave, East Providence, RI

Like what you see?

Complete the form and we'll be in touch. No login necessary.

Add a Comment
Loading...

Similar Listings

Comparable Properties