Providence, Rhode Island, offers a diverse range of Multi-Family Properties For Sale, with 1 listings available. Investing in Multi-Family Properties in Providence can be a lucrative opportunity, as the city's strong economy, rich history, and diverse population create a high demand for housing. Multi-Family Properties can represent a variety of investments, from apartment buildings to condominium complexes, each with its unique benefits and characteristics. Providence's amenities, infrastructure, location, education, and geography make it an attractive place to invest in a Multi-Family Property. The city is home to several institutions of higher learning, including Brown University and Johnson & Wales University, which attract students and young professionals seeking housing. Additionally, Providence's historic sites, arts community, and sports teams make it a desirable place to live, increasing the demand for housing. The city's proximity to Boston and Hartford also makes it an attractive location for commuters.
Providence's Multi-Family Properties offer a range of opportunities for investors. With an average price per square foot of $210 USD and an average size of 27,421 square feet, these properties can provide a significant return on investment. The largest property available is 244,800 square feet, offering ample space for residents. The average cap rate for Multi-Family Properties in Providence is 6.9%, making them a attractive option for investors. In addition to Multi-Family Properties, Providence also offers Retail Space, Shopping Centers, Residential Income Homes, and Office Properties for sale, each with its unique characteristics and benefits. Retail Space in Providence can be found in popular areas like the Providence Place Mall, while Shopping Centers like the Garden City Center offer a range of retail and dining options. Residential Income Homes in Providence can be found in neighborhoods like the East Side, which encompasses several neighborhoods like Blackstone and College Hill. Office Properties in Providence are concentrated in areas like the Jewelry District, also known as the Knowledge District, which is recognized for its emerging life sciences and technology-based economy. Overall, Providence offers a diverse range of properties for sale, each with its unique benefits and characteristics.
What is the average cap rate for multi-family properties in the Providence market?
For investors seeking to capitalize on the Providence market, understanding the average cap rate for multi-family properties is crucial. According to current listings, the average cap rate for multi-family properties in Providence is 6.9%, which is a key metric to consider when evaluating investment opportunities; to learn more about cap rates and their significance in commercial real estate, check out our article on what is a cap rate.
What should I know about financing options for buying an apartment building in Providence?
When considering financing options for buying an apartment building in Providence, it's essential to understand the local market and available financing options, including commercial real estate loans (CRE loans) that can help you secure the property of your choice, as discussed in our article at CRE loans.
- Providence's diverse economy, with a strong presence of educational and healthcare institutions, can provide a stable source of tenants for your apartment building, making it an attractive option for investors.
- With 1 available listings of multi-family properties in Providence, you'll have a range of options to choose from, including properties with average prices per square foot of $210 USD and average sizes of 27,421 square feet.
- Additionally, you can expect an average cap rate of 6.9% for multi-family properties in Providence, which can help you determine the potential return on investment for your property.
