Investment Condo at 1 W Exchange St, Providence, RI 02903 - $-62,280 Profit
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1 W Exchange St, Providence, RI 02903

Unit - #2604

$1,100,000

Description

Investment Opportunity: Active on the Market: Resideline estimates that this property can be rented on Airbnb for an average of $250 per day and long-term for an average of $3,624 per month, based on similar listings in the area. Estimated short-term cap rate of -5.1%. Estimated long-term cap rate of -5.7%. Indulge in the epitome of luxury at The Residences Providence, where every detail has been considered. Unit 2604 presents a rare opportunity to reside in a supreme Northeast-facing corner unit offering 2 bedrooms, 2 full bathrooms, and unparalleled views of the Rhode Island Statehouse, Waterplace Park, and College Hill. This exquisite residence features two balconies that provide the perfect setting to take in the views from 26 floors in the sky. Inside, discover a gourmet kitchen outfitted with premium appliances, sleek cabinetry, and granite countertops. The open living area is perfect for both relaxation and entertainment, while the luxurious primary suite offers a serene retreat with its ensuite bathroom, custom carpeting, built-in cabinetry, and ample closet space. Being offered with custom window treatments, some furnishings negotiable, a generously sized storage unit, and two deeded parking spaces in the secure garage. Residents of The Residences Providence enjoy access to a suite of full-service amenities, including a 24-hour concierge, and Omni's fitness center. Located in the heart of the city, this exclusive address provides easy access to downtown Providence's finest dining, shopping, and entertainment options. Schedule your private tour of Unit 2604 today and experience the epitome of luxury living in Providence.

Property Information
Airbnb Avg Daily
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Occupancy Rate
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Monthly HOA
$1575
Rental Policy
daily
Yearly Taxes
$16618
Bedrooms
2
Bathrooms
2
SQFT
1,416
Furnished
N/A
Year built
2007
Listing Status
Active
MLS
1371990

Short-term Rental Potential
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$49,464

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$776

Price/SQFT

Long-term Rental Potential
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$43,488

Revenue
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Profit
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Cap rate
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Cash on Cash
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$3,624/mo

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