One of the best-located two-families on the East Side, positioned right between Wayland Square and College Hill. Fully gut renovated in 2020 from the foundation up. Structure, systems, interior, exterior, all rebuilt to a high standard. This is as turnkey as it gets. Eight bedrooms and five baths across two apartments. Unit 1 is a true 3 bed / 2 bath with its own independent footprint. Unit 2 spans two levels with 5 beds / 3 baths and lives like a private townhouse. Leased through May 2027 with zero vacancy history. Tenants pay gas and electric. $8,800/month gross rent. $80,040 NOI. Central air, in-unit laundry, off-street parking, and full-height basement with ADU potential. The value here is flexibility. Hold it as a stabilized long-term rental. Convert to condos and sell individually down the road. Explore an ADU for a third income stream. Let leases reset in 2027 and push rents to market. Or live in the townhouse unit yourself while the first floor offsets ownership costs. Multiple ways in. Multiple ways out. Priced at $1,500,000 with $80,040 NOI and a clear path toward a 6%+ return over time. Buy it stabilized. Reposition it on your terms.
For sale
Price cut: $10K (6/29)
$1,490,000
12 University Ave, Providence, RI 02906
8beds
3,435sqft
Multi Family
Built in 1900
-- sqft lot
$1,413,300 Zestimate®
$434/sqft
$-- HOA
What's special
- 47 days |
- 547 |
- 11 |
Zillow last checked:
Listing updated:
Listed by:
Scott Champagne 401-269-3244,
Compass
Source: StateWide MLS RI,MLS#: 1413277
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 5
- Full bathrooms: 5
Bathroom
- Features: Bath w Tub, Bath w Tub & Shower
Heating
- Natural Gas, Forced Air
Cooling
- Central Air
Appliances
- Included: Gas Water Heater, Tankless Water Heater
- Laundry: In Unit
Features
- Wall (Dry Wall), Plumbing (Mixed), Insulation (Unknown)
- Flooring: Ceramic Tile, Hardwood
- Basement: Full,Interior and Exterior,Unfinished,Storage Space,Utility
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 3,435
- Total interior livable area: 3,435 sqft
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: No Garage
Features
- Stories: 3
- Patio & porch: Porch
Lot
- Size: 3,484 Square Feet
- Features: Sidewalks
Details
- Parcel number: PROVM39L350
- Zoning: R3
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Dry Wall, Vinyl Siding
- Foundation: Unknown
Condition
- New construction: No
- Year built: 1900
Utilities & green energy
- Electric: 200+ Amp Service
- Sewer: Public Connected
- Water: Public
- Utilities for property: Water Connected
Community & HOA
Community
- Features: Near Public Transport, Commuter Bus, Golf, Highway Access, Hospital, Interstate, Private School, Public School, Railroad, Recreational Facilities, Restaurants, Schools, Near Shopping, Near Swimming, Tennis
- Subdivision: East Side
HOA
- Has HOA: No
Location
- Region: Providence
Financial & listing details
- Price per square foot: $434/sqft
- Tax assessed value: $1,295,100
- Annual tax amount: $18,131
- Date on market: 5/22/2026
- Inclusions: Property sold subject to existing leases in place through May 31, 2027. Financials provided by owner and believed accurate but not guaranteed. Buyers and buyer’s agents to perform their own due diligence regarding rents, expenses, and future development potential including ADU feasibility.
- Total actual rent: 8800
- Tenant pays: Heat
Estimated market value
$1,413,300
$1.34M - $1.48M
$3,934/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/29/2026 | Price change | $1,490,000-0.7%$434/sqft |
Source:  StateWide MLS RI #1413277 Report a problem | ||
| 5/22/2026 | Price change | $1,500,000-3.2%$437/sqft |
Source: StateWide MLS RI #1413277 Report a problem | ||
| 3/17/2026 | Listed for sale | $1,550,000+342.9%$451/sqft |
Source: StateWide MLS RI #1405866 Report a problem | ||
| 5/1/2018 | Sold | $350,000$102/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $18,131 +13.9% | $1,295,100 +49.3% |
| 2024 | $15,920 +3.1% | $867,600 |
| 2023 | $15,443 | $867,600 |
| 2022 | $15,443 +7.2% | $867,600 +47.9% |
| 2021 | $14,412 +0% | $586,800 +33.2% |
| 2020 | $14,412 +33.2% | $440,700 |
| 2019 | $10,824 -6.1% | $440,700 +22.2% |
| 2018 | $11,525 0% | $360,600 |
| 2017 | $11,525 | $360,600 |
| 2016 | $11,525 +7.2% | $360,600 +11.1% |
| 2015 | $10,748 -1.9% | $324,700 |
| 2013 | $10,959 -22.6% | $324,700 -26.9% |
| 2012 | $14,159 | $444,000 |
| 2011 | $14,159 +5% | $444,000 |
| 2010 | $13,489 -4.4% | $444,000 -23.8% |
| 2009 | $14,105 +6% | $582,600 |
| 2007 | $13,307 +6.5% | $582,600 +41% |
| 2006 | $12,494 | $413,300 |
| 2005 | $12,494 | $413,300 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Blackstone
Nearby schools
GreatSchools rating
- 6/10Martin Luther King Elementary SchoolGrades: PK-5Distance: 0.6 mi
- 5/10Nathan Bishop Middle SchoolGrades: 6-8Distance: 0.5 mi
- 1/10Hope High SchoolGrades: 9-12Distance: 0.5 mi
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
- Rhode Island
- Providence County
- Providence
- 02906
- Blackstone
- 12 University Ave
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