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A RARE PROVIDENCE VALUE-ADD WITH BONUS DEVELOPMENT POTENTIAL. Well-kept 6-unit (legal 5) property in Providence's Charles neighborhood offering strong current income with substantial upside still on the table. Below-market month-to-month rents create immediate opportunity for increased rents, while basic interior renovations offer additional value-add potential. Major capital improvements have already been handled, including a 2-year-old roof, majority newer windows, multiple newer water heaters, foundation repairs, and vinyl siding. The property also offers ample rear parking on a separate, buildable lot, creating rare future development potential beyond the existing asset. Strong infrastructure, flexible tenancy, and multiple paths to increased returns make 513 Charles Street a compelling investment from day one.

More Info

Basic Information

  • Gross Income $91,200
  • Mls StatusNew
  • Parcel Number 586653
  • Road Frontage DescriptionPaved

Tax Information

  • Tax Assessed Value $698,600
  • Tax Year 2025
  • Taxes$18,164

Parking

  • Open Parking YN Yes
  • Parking Features Paved Drive, Off Street
  • Parking Spaces12

Rooms

  • Bathroom6
  • Bathrooms Total Decimal 6
  • Bedrooms10
  • Full Bath6

Basic Information

  • List Price$999,000
  • MLS Number73521978
  • Modification Date05/20/2026
  • Property SubType5+ Family - 5+ Units Side by Side

Location

  • Address513 Charles Street
  • Building Number513
  • CountyProvidence
  • StateRI
  • StreetCharles Street
  • TownProvidence
  • Zip02904

Building

  • BasementFull, Unfinished
  • Building Area Units Square Feet
  • Construction Materials Frame
  • FoundationBrick/Mortar
  • Levels 3
  • Rooms24
  • Stories3
  • Units6
  • Year Built1900
  • Year Built Details Actual
  • Year Built Source Public Records

Property

  • Acreage0.11

Interior

  • Flooring Tile, Vinyl

Exterior

  • RoofShingle

Utilities

  • Electric Circuit Breakers
  • Sewer Public Sewer
  • Water Source Public

Property Information

  • Building Area Source Public Records
  • Living Area 3,550
  • Lot Size Square Feet 4,792
  • Lot Size Units Acres
  • Square Feet3,550

Amenities

  • Amenities
    • Highway Access
    • Park
    • Public School
    • Public Transportation
    • Shopping
    • Walk/Jog Trails
  • Other AmenitiesBasement

Legal

  • ZoningRES

Other

  • Date Listed05/20/2026
  • Farm Land Area Units Square Feet

Map Location

Driving Directions

Listed by Spectrum Real Estate Consultants of Keller Williams Realty Leading Edge

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