Investment Overview

Marcus & Millichap is pleased to offer for sale the multi-family portfolio with properties located at 139 Julian Street and 41 Yale Avenue in Providence, Rhode Island. 139 Julian Street is comprised of four or five one-bedroom, one-bathroom apartments. This layout appeals to both long-term renters and potential owner-occupants. A key advantage of this urban location is the three-car garage, providing secure off-street parking. 41 Yale Avenue is a turnkey six-unit building situated on a prominent corner lot. It features fully finished one-bedroom, one-bathroom apartments that are ready for immediate leasing or continued income generation. The property stands out due to its strong potential for appreciation, supported by a solid estimated value and consistent market performance. The location benefits from excellent neighborhood stability, walkability, and proximity to employment centers and urban amenities. Together, this portfolio offers investors a unique opportunity to acquire two well-positioned, income-generating assets with low operational risk, strong historical rent growth, and significant upside potential. Providence’s broader multi-family market has consistently outperformed national averages in recent years, driven by a structural imbalance between supply and demand. The city’s population continues to expand, supported by its large student base, young workforce, and increasing in-migration from higher-cost metros such as Boston and New York. This trend has led to sustained renter growth, high occupancy rates, and upward pressure on rents. Olneyville stands out as a particularly high-yield submarket, offering relatively affordable rents compared to neighborhoods like East Side or College Hill, while still providing excellent access to jobs, transit, and amenities. The neighborhood benefits from easy access to Downtown Providence, Interstate 95, Hartford Avenue, and major bus routes, ensuring short commutes to employment centers, higher education institutions, and retail destinations. Over time, Olneyville has become one of the city’s most dynamic urban neighborhoods, featuring historic housing stock, walkable streets, and significant redevelopment activity. Supply constraints further enhance Olneyville’s investment potential. With limited new multi-family construction entering the market, existing stabilized properties are well-positioned to capture ongoing renter demand and benefit from reduced competition.