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$ 1,495,000

Est. payment | -/mo

8 Beds

4 Baths

4,932 SqFt

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$ 1,495,000

Est. payment | -/mo

Save

8 Beds

4 Baths

4,932 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,932 sqft

Price per Sqft $303

Subdivision East Side/College Hill/Fox Point

MLS Listing ID 1427956

Bedrooms 8

Full Baths 4

HOA Y/N No

Abv Grd Liv Area 4,932

Year Built 1820

Annual Tax Amount $8,899

Tax Year 2026

Lot Size 3,920 Sqft

Acres 0.09

Property Sub-Type Multi Family

Property Description

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 location further strengthens its investment profile. The colleges provide consistent student and academic housing demand, while proximity to the area's hospitals, downtown Providence, and major employment centers broadens the potential tenant pool to include medical professionals, researchers, and others. With a 2027 rent roll of $147,600, a prime College Hill location, and 2,400 sq ft of potential expansion, this property offers an outstanding combination of immediate income and long-term upside.

Location

State RI

County Providence

Community East Side/College Hill/Fox Point

Rooms

Basement Full, Unfinished, Walk-Out Access

Interior

Interior Features Attic, Bathtub, Permanent Attic Stairs, Storage, Stall Shower, Tub Shower, Cable TV

Heating Baseboard, Electric, Gas, Heat Pump, Zoned

Cooling Ductless

Flooring Ceramic Tile, Hardwood, Other

Fireplaces Number 2

Fireplaces Type Masonry

Inclusions Current leases include furniture, which is also included in the sale of the property. Landlord pays all utilities.

Fireplace Yes

Window Features Thermal Windows

Appliance Dryer, Dishwasher, Electric Water Heater, Microwave, Oven, Range, Refrigerator, Water Heater, Washer

Laundry Common Area

Exterior

Exterior Feature Patio, Paved Driveway

Parking Features Detached

Garage Spaces 2.0

Fence Fenced

Community Features Highway Access, Marina, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Sidewalks

Utilities Available Sewer Connected

Waterfront Description River Front,Walk to Water

Porch Patio

Total Parking Spaces 5

Garage Yes

Building

Foundation Combination

Sewer Connected, Public Sewer

Water Connected, Public

Structure Type Plaster,Clapboard

New Construction No

Others

Senior Community No

Tax ID 47SHELDONSTPROV

Listed by Residential Properties Ltd.

47 Sheldon ST Providence, RI 02906

Onest Realestate

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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47 Sheldon ST