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244 Bowen St 244 Bowen St 12 Unit Apartment Building $4,039,020 CAD ($336,585 CAD/Unit) 6% Cap Rate Providence, RI 02906
Investment Highlights
- Excellent Location to Brown University
- Upside on Rents
Executive Summary
Rarely available, 244 Bowen Street is a legal 12-Unit apartment building in the heart of Brown University. The property offers (8) 1 Bed/1Bath apartments and (4) Studio/1Bath apartments, with lots of room on the rent roll. 100% occupied every year. Largely occupied by Brown University graduate and Phd students. Quiet building with very little turnover. Fully leased through summer of 2027. A+ location for student housing.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,039,020 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $336,585 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 6% | Building Size | 6,313 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1914 |
| Zoning | R-3 | ||
| Price | $4,039,020 CAD |
| Price Per Unit | $336,585 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 6,313 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1914 |
| Zoning | R-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 500 - 700 |
| 1+1 | 8 | - | 600 - 800 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | PROV-130102-000000-000000 | Improvements Assessment | $1,462,799 CAD |
| Land Assessment | $696,908 CAD | Total Assessment | $2,159,707 CAD |
Property Taxes
Parcel Number
PROV-130102-000000-000000
Land Assessment
$696,908 CAD
Improvements Assessment
$1,462,799 CAD
Total Assessment
$2,159,707 CAD
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Presented by
Walter Bronhard
244 Bowen St | 244 Bowen St
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