8 Beds
5 Baths
3,435 sqft
$1,445,000
12 University Avenue, Providence RI, 02906
Price per sqft$420.67
Built in1900
Property size3,435 sqft
Property typeMulti-family
Overview
Sold
Closed
Listed May 22, 2026
Updated 4 days ago
One of the best-located two-families on the East Side, positioned right between Wayland Square and College Hill. Fully gut renovated in 2020 from the foundation up. Structure, systems, interior, exterior, all rebuilt to a high standard. This is as turnkey as it gets. Eight bedrooms and five baths across two apartments. Unit 1 is a true 3 bed / 2 bath with its own independent footprint. Unit 2 spans two levels with 5 beds / 3 baths and lives like a private townhouse. Leased through May 2027 with zero vacancy history. Tenants pay gas and electric. $8,800/month gross rent. $80,040 NOI. Central air, in-unit laundry, off-street parking, and full-height basement with ADU potential. The value here is flexibility. Hold it as a stabilized long-term rental. Convert to condos and sell individually down the road. Explore an ADU for a third income stream. Let leases reset in 2027 and push rents to market. Or live in the townhouse unit yourself while the first floor offsets ownership costs. Multiple ways in. Multiple ways out. Priced at $1,500,000 with $80,040 NOI and a clear path toward a 6%+ return over time. Buy it stabilized. Reposition it on your terms.
Additional information
- MLS® ID
- 1413277
Interior Features
- Bedrooms
- 8
- Bathrooms
- 5
- Cooling
- Yes
- Heating
- Yes
- Basement
- Yes
Exterior Features
- Lot Size
- 0.08 Acres
Other Property Details
- Taxes
- $18,131
- Tax Frequency
- Annually
- Association Fee Frequency
- Monthly
- 55+/Senior Community
- No
Courtesy of Compass, 401-269-3244
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Data last updated 4:37 AM UTC, 10/20/2026.