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562 Plainfield Street, Providence, RI 02909

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For Sale

$449,990

2 beds • 1 baths • 2,828 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $159.12
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

Investor Opportunity Mixed-Use with 3rd unit ADU Potential // Proforma Cap Rate: 8.2% Set on a 3,600 sq ft lot in a high-traffic area of Providence, this freestanding brick mixed-use building offers strong upside potential. The 2,828 sq ft layout includes a spacious 1,303 sq ft retail space on the first floor and a 750 sq ft residential unit above featuring 2 bedrooms perfect for a business and rental income. The detached garage is an easy ADU conversion adding a third unit pushing PROFORMA rents to $5.2K+ p/ month. Whether you're looking to create a third income stream or a private guest space, the groundwork is here. The building has a solid existing infrastructure, R3 zoning, and a location minutes from downtown and commuter routes, this property offers flexibility for investors, entrepreneurs, and end users alike. Run your business downstairs, rent or live upstairs, and explore the untapped value in the garage. Why rent a storefront, when you can own it, and collect rent from your tenants upstairs!
MLS# 1387578

Courtesy Of Smith And Oak Real Estate Co.

(401) 464-2617

Property Features

  • Age
    Over 50 Years Old
  • Appliances
    Refrigerator
  • Architecture Style
    Other
  • Exterior Type
    Brick, Vinyl Siding
  • Floor Covering
    Laminate, Tile, Tile - Ceramic
  • Heating System
    Space Heater
  • Lot Size
    0.08 Acres

Map and Directions

Directions to 562 Plainfield Street, Providence, RI 02909

Home seller CENTURY 21 The Seyboth Team

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 The Seyboth Team

(508) 726-3492
Learn More About Us

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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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