Admiral Apartments 777-787 Admiral St 17 Unit Apartment Building $5,191,987 CAD ($305,411 CAD/Unit) 7.65% Cap Rate Providence, RI 02908

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the Admiral Apartments, a multi-family investment property located at 777-787 Admiral Street in Providence, RI (the “Property”). The multi-story brick buildings, situated on two ({2) tax parcels, contain eleven (11) 2-Bedroom/1-Bathroom units and six (6) 1-Bedroom/1-Bathroom units, with five (5) 1-Bedroom/1-Bathroom units at 777 Admiral and 787 Admiral containing eleven (11) 2-Bedroom/1-Bathroom units and one (1) 1-Bedroom/1- Bathroom unit. The Property contains 10,130 square feet of gross living area in 15,272 square feet of gross area, situated upon a combined 0.42-acre parcels and features 20+ off-street parking spaces.
The Admiral Apartments has undergone comprehensive capital improvements since its recent acquisition, significantly enhancing both the property’s physical infrastructure and in-unit finishes. The majority of apartment units have undergone high-end interior renovations featuring modernized kitchens and bathrooms, in-unit laundry and updated living spaces, while common areas have also been substantially improved to elevate the overall tenant experience. Major building system upgrades include all new boilers, extensive plumbing and electrical improvements, and replacement of most windows, positioning the asset with strong in-place infrastructure and limited near-term deferred maintenance requirements. Tenants are responsible for their own heat, hot water and electric while the landlord is responsible for water/sewer.
The Property features durable brick construction, a highly desirable attribute for multifamily housing that provides long-term structural integrity, fire resistance, and reduced maintenance requirements. Brick construction also delivers superior sound attenuation and thermal efficiency, contributing to lower utility costs and enhanced resident comfort while preserving long-term aesthetic appeal.
The Admiral Apartments are strategically positioned along Admiral Street in Providence’s Smith Hill neighborhood, offering residents convenient access to downtown Providence, major healthcare and educational institutions, and the city’s primary commercial corridors. Located just minutes from Interstate 95, Route 6, and Route 146, the property provides strong regional connectivity throughout Rhode Island and into the greater Boston metropolitan area.