103 B Evergreen Lot B Street , Providence, RI 02906(Providence County)

Entitled Lot in Mount Hope-Approved for 3 Unit MultiFamily Development. Rare opportunity to build in the heart of the Mount Hope Neighborhood. This entitled lot is approved for the development a 3 or 4 unit MultiFamily building. It is currently designed as a 3 -unit apartment building with each unit thoughtfully planned at approximately 1,030 sq.ft. with 3 bedrooms, 2 baths and one off-street parking space per unit. The 4th unit would not require an additional parking space so the plan can remain proposed. The site also features outdoor space for a patio, fire pit, and or garden. Given a 3-unit structure already requires an automatic sprinkler system, adding a 4th unit would modestly increase construction costs(primarily one additional kitchen and bathroom) while significantly enhancing rental income. As currently projected to rent approximately $3,400/month rental income, offering strong returns in high demand rental market. Enjoy the best of city living-just a short walk to a vibrant mix of coffee shops, restaurants and boutiques that make Mount Hope such a popular destination. While entitlement supports a multifamily development, the lot is also well-suited for a 2-family or single family home offering flexibility for developers and end users alike. Architectural plans and permit drawings will still need to be created for submittal. This is an ideal project for a developer looking to capitalize on shovel-ready opportunity in prime location.