$1,500,000

About This Home

Former convent with maintenance-free brick exterior, reimagined into a documented income-producing property across three floors. Eleven bedrooms and six baths span a layout built for shared occupancy: the first floor centers on a spacious furnished common area with vending for guest convenience, an ensuite with private bath, and two bedrooms sharing a bath; the second and third floors each repeat an ensuite plus three bedrooms sharing a common bath and kitchen. That room-around-common-space structure extends this property's appeal beyond the conventional investor to group home operators, transitional or sober-living housing, student housing, and institutional or nonprofit buyers. **A finished lower level adds five rooms, a bath, and coin-op laundry — not counted toward the bedroom total due to window egress sizing, offering future expansion potential once brought into code compliance.**Documented annual income runs $174,960 across a diversified revenue base — long-term tenancy alongside an active short-term rental operation through Airbnb and Cloudbeds — and the property is sold fully furnished, running near a 7.5% cap rate at the current ask.**Located in the heart of Federal Hill, within walking distance of Atwells Avenue's restaurants, shops, and entertainment, with the West Side's full range of amenities close by. Ample on-site parking, a nearby dog park, and easy access to downtown Providence and the train.

Property Details

Location