48 Hillside AVE new Save Request In-Person Tour Request Virtual Tour
Providence,RI 02906
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,920 sqft
Price per Sqft $253
Subdivision East Side
MLS Listing ID 1385176
Bedrooms 7
Full Baths 4
Half Baths 1
Year Built 1890
Annual Tax Amount $9,875
Tax Year 2024
Lot Size 3,049 Sqft
Property Sub-Type Multi Family
Property Description
Welcome to 48-50 Hillside Avenue a meticulously maintained four-unit multifamily located in the heart of Providence's desirable East Side. Priced at $995,000, this rare offering presents a unique opportunity to own a well-performing asset in one of the city's most sought-after neighborhoods. The main building features three spacious units with hardwood floors, classic layouts, and separate utilities. A detached cottage serves as a fourth unit, bringing added value and flexibility. All units are tenant-occupied on month-to-month leases, providing immediate income and the ability to adjust rents to market rates a key advantage in a high-demand rental area with below-market rents. Ideal for both investors and owner-occupants, this property offers strong upside potential. Owner-occupants may benefit from the Rhode Island Homestead Exemption, which can result in a significant reduction in annual property taxes, enhancing long-term affordability. The property has been exceptionally well maintained with updated systems, off-street parking, and separately metered utilities. Located just minutes from Blackstone Boulevard, Hope Street, local shops, caf s, universities, and downtown Providence, the location offers consistent demand and strong appreciation. This is a truly distinctive opportunity to acquire a turnkey property with built-in equity, strong rental demand, and room to scale all in one of Providence's most prestigious and vibrant neighborhoods.
Location
State RI
County Providence
Community East Side
Interior
Heating Electric,Forced Air,Gas,Oil
Cooling None
Flooring Hardwood,Vinyl
Fireplaces Type None
Inclusions The separate cottage located at 46 Hillside Avenue, Pawtucket, RI 02861 is included as part of the overall listing and is assessed separately, with annual property taxes of $2,671.61 paid to the City of Pawtucket. The total gross area of 3,920 square feet includes the main three-family residence (2,820 sq ft) and the separate cottage (1,100 sq ft). Heating for Units 1 and 2 is gas, Unit 3 is heated with electric baseboards, and the cottage is heated with oil.
Laundry Common Area
Exterior
Exterior Feature Paved Driveway
Community Features Highway Access,Near Hospital,Near Schools,Public Transportation,Restaurant,Shopping,Sidewalks
Utilities Available Sewer Connected
Building
Foundation Brick/Mortar,Combination,Concrete Perimeter
Sewer Connected
Water Connected
Structure Type Drywall,Plaster,Vinyl Siding
New Construction No