Looking for a Multi-Family to Live or Invest In - Here Are 7
GoLocalProv and Residential Properties Content Partnership
Looking for a Multi-Family to Live or Invest In - Here Are 7
With the median price of a single-family home now $505,000 in Rhode Island, according to the latest sales data from July, more and more are looking at multi-family homes as an option.
Residential Properties has seven properties that provide opportunities to live and generate rental income or simply invest.
Here are seven multi-family properties to explore:
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40 Governor Street
Providence, RI 02906
PRICE: $1,550,000
Property Description
Investors take note! Exceptional 2-family in a popular Fox Point location offering 9 beds and 6 baths, with 3 garages plus 4 car parking, and a roof top deck. This building was thoughtfully redesigned and renovated in 2019, with careful attention to preserving the charm of the original structure as much as possible. The sparkling white kitchens with center islands, stone counters, stainless appliances, and breakfast bars are completely open to the living/dining areas. The 1st floor unit has 3 beds and 2 new baths, one of which is ensuite, while the 2nd floor unit is a townhouse with 6 beds and 4 new baths, two of which are ensuite. There is a coin operated washer and dryer conveniently located in the 2nd floor hallway. All separate utilities. Updated mechanicals include two separate HVAC installations for efficient heating and cooling. The exterior is in great shape with new vinyl siding, all replacement windows, a 9-year-old roof with architectural shingles, a rebuilt rooftop deck, and a recently repaved driveway and parking area. Fabulous walkable location - close to Brown, RISD, parks, shops, restaurants. Currently rented through July 2026.
38 S Angell Street
Providence, RI 02906
PRICE: $995,000
Property Description
Walkable within Wayland Square and well-positioned for long-term growth and income, this multi-unit Wayland Square property provides the ultimate city location close to universities, Blackstone Boulevard, and endless restaurants, parks, and shops. With three total units, two of which offer large kitchens sunrooms, 2 bedrooms and 1 bath and one of which offers 3 bedrooms & 2 baths, this exceptional investment will always be in demand due to its unbeatable proximity to all the East Side has to enjoy. On-site parking plus 2 garage spaces. Hope Village provides more unique retail and dining experiences, while downtown's sporting events, theater, and world-class dining create memorable evenings.
98 John Street
Providence, RI 02906
PRICE: $795,000
Property Description
Looking for the perfect Fox Point two-flat with expansion possibilities? You won't want to miss this historic charmer nestled in the heart of the neighborhood. Each flat has two bedrooms, an updated bath and kitchen. You will love the character with pine floors, high ceilings and large windows which flood the house with natural light. Owned by one family for multiple generations this property is in impeccable condition. Newer mechanicals updated electrical services and recently painted. Plus, the third floor offers expansion possibilities. Just steps to shops, restaurants and parks. Come see why so many want to live in Fox Point. Minutes to the universities, downtown, the train and interstate make commuting a breeze. Live on the ground floor and enjoy the rent from the second-floor unit. A gem!
136 Hillside Avenue
Pawtucket, RI 02860
PRICE: $699,000
Property Description
The perfect Oak Hill location for your investment / owner-occupant opportunity has arrived! This two-family home is striking distance to restaurants, Miriam Hospital, and universities, ensuring consistent demand. Two units offering 3 bedrooms and one bath plus a convenient garage and newer driveway add to this excellent multi-family with income potential. Each unit enjoys a covered front porch/balcony to extend your entertaining space. The first-floor unit offers 2 bedrooms, 1 bath, and warm hardwood floors in the sun-filled double-parlor living room. The 2-bedroom, 1-bath second-floor unit begins with a sunny living/dining room featuring elegant French doors with hardwood floors . Subway tile elevates the kitchen, while the comfortable bedrooms let you customize to your needs. Additional highlights include off-street parking, vinyl siding, separate utilities, and laundry hookups. A charming backyard with mature trees creates a lovely shared oasis. Residents enjoy leisurely strolls to nearby Lippitt Park for weekend farmers markets or people-watching on Blackstone Boulevard. You'll be minutes away from the unique restaurants and shops along Hope Street. A must see!
230 Pawtucket Avenue
Pawtucket, RI 02860
PRICE: $650,000
Property Description
Discover this 3-unit property located on a corner lot, perfect for owner-occupants or investors! All floors feature hardwood floors, double parlors, providing plenty of space for comfortable living. This multi-family home offers two stairwells on both ends of the building, 3 separate hot water tanks and 3 separate boilers, and 4 off-street parking spaces. Come check out this conveniently located property near the new MBTA commuter rail, shops, dining, and more!
17 Plum Street
Providence, RI 02905
PRICE: $650,000
Property Description
Well-maintained multi-family home spans approximately 2,997 sq. ft., seamlessly blending timeless architectural details with modern enhancements. It appeals to both investors and owner-occupants thanks to its historic charm, functional upgrades, and prime location. The home features six bedrooms and three full bathrooms across three finished units, each offering high ceilings, spacious layouts filled with natural light, and ample closet space. First and Second Floors: Generous living areas and oversized kitchens with plenty of room for dining, complemented by stainless steel appliances. Third Floor: A versatile unit that could function as a 2-bedroom, featuring a walk-in closet, office space (ideal for an art nook), an eat-in kitchen, a massive Jacuzzi tub, and convenient in-unit side-by-side laundry. A standout feature is the freshly painted bold red staircase at the heart of the home, adding a unique retro Victorian character. Outdoor amenities include a welcoming front porch and a backyard perfect for entertaining or relaxing.This property is solar-efficient, helping significantly reduce utility costs, and all entryways feature large landings ideal for seasonal storage. Conveniently located just 0.8 miles from Johnson & Wales University and Rhode Island College, residents enjoy easy access to downtown, major highways, hospitals, and more. This is truly a must-see opportunity in a fast-growing area, combining historic appeal, functional upgrades, and energy efficiency.
138 Sheffield Avenue
Pawtucket, RI 02860
PRICE: $599,000
Property Description
Delightful two-flat on a large corner lot in a prime Oak Hill location. Owned by the same family for multiple generations, this home awaits its next steward. Bring your design eye and maximize the invesment potential this property offers. Each floor contains a large apartment. The first floor has a two bedrooms, a living room, dining room, eat-in kitchen, full tile bath, laundry area and a sunroom with over 1,400 SF of living space. The second floor also has two bedrooms, a large eat-in kitchen, a living room, and a dining room. Both units have a large screened-in porch to enjoy the warm weather months. There is a two-car garage and two additional outdoor parking spaces. You will love this highly sought-after neighborhood within an easy walking distance to shopping, schools, recreation, and the farmer's market. A short drive to the train and interstate make commuting a breeze. You won't want to miss this one.