47 Sheldon Street, Providence, RI 02906

Ideally located in the highly desirable College Hill neighborhood, 47 Sheldon Street presents a compelling investment opportunity combining established rental income of $12,300 per month, substantial development potential, and proximity to some of the city's strongest rental demand drivers including Brown University, RISD, Wickenden Street, and major hospital centers. The 1st floor offers a 3 bed unit and a 1 bed unit. The 2nd floor currently has 2 separate apartments which share utilities and could easily be merged into a large 4 or 5 bed, 2 bath unit. This property has benefited from numerous recent improvements, including fresh exterior paint, replacement windows, updated exterior finishes, and upgraded mechanical systems. Significant additional value and rental income may be unlocked through the potential development for additional finished living or studio space across 3 distinct areas: attic (900 sq ft), basement (1200 sq ft), and detached garage (300 sq ft). The property's...