67 Ridge St, Providence, RI 02909

Former convent with maintenance-free brick exterior, reimagined into a documented income-producing property across three floors. Eleven bedrooms and six baths span a layout built for shared occupancy: the first floor centers on a spacious furnished common area with vending for guest convenience, an ensuite with private bath, and two bedrooms sharing a bath; the second and third floors each repeat an ensuite plus three bedrooms sharing a common bath and kitchen. That room-around-common-space structure extends this property's appeal beyond the conventional investor to group home operators, transitional or sober-living housing, student housing, and institutional or nonprofit buyers. * * A finished lower level adds five rooms, a bath, and coin-op laundry not counted toward the bedroom total due to window egress sizing, offering future expansion potential once brought into code compliance. * * Documented annual income runs $174,960 across a diversified revenue base long-term tenancy alongside an active short-term rental operation through Airbnb and Cloudbeds and the property is sold fully furnished, running near a 7.5% cap rate at the current ask. * * Located in the heart of Federal Hill, within walking distance of Atwells Avenue's restaurants, shops, and entertainment, with the West Side's full range of amenities close by. Ample on-site parking, a nearby dog park, and easy access to downtown Providence and the train.

Historically & architecturally rich property with proven revenue stream, in one of Providence's most sought-after neighborhoods! * * This former convent with its maintenance free brick exterior has been immaculately repurposed into a highly successful short-term rental property & features an incredibly unique layout supporting its present use. * * Located in the heart of Federal Hill, this property is well positioned within walking distance of Atwells Avenue, renowned for its eateries, shops & entertainment options as well as all the vibrant West Side has to offer. * * Spread over a generous 5,653 sqft area, on three floors & an additional 1855 sf below grade, the property features 4 finished levels that support versatile uses due to their open & adaptable floor plans. * * The main 3 levels consist of a total of 11 beds & 6 baths. The 2nd & 3rd levels consist of 4 beds & 2 baths. * * Each floor is equipped with an ensuite w/ a private bath & 3 additional beds w/ common bath & kitchen. * * The 1st floor consists of 1 en suite w/ private bath & 2 beds w/ shared bath & a spacious common area, nicely furnished & includes vending machines for guest convenience. * * The fully finished lower has 5 rooms, a bath & 2 utility rooms w/ laundry & coin op. * * Property is fully furnished & comes with an excellent cash flow, courtesy of its ongoing success as a short-term rental hub. Ample parking, dog park nearby. Close to downtown & train, this property presents an amazing investment opportunity!