Investment Overview

Marcus & Millichap is pleased to offer for sale the multi-family portfolio located in Providence, Rhode Island. The properties are situated just minutes from Providence College, in one of the city’s most active rental submarkets. This area benefits from consistently strong demand, driven by the college’s growing student population. Comprising multiple residential units across two buildings, the portfolio is ideally suited for student housing. The units feature modern layouts and ample common space, making them well-suited for shared living arrangements that align with the preferences of college renters. Average rents near Providence College are approximately $2,100 per unit, nearly twice the city's one-bedroom average. This positions the assets for strong income potential and sustained rent growth over the long term. Located in the heart of Mount Pleasant, the properties benefit from close proximity to Providence College’s expanding campus and offer a timely opportunity to enter one of the city’s most resilient and high-demand rental markets. As Providence College continues to attract a significant number of out-of-state and international students, the surrounding off-campus rental market has experienced steady upward pressure on rents and occupancy. The college’s location near downtown Providence, Amtrak and MBTA train service, Interstate 95, and a wide range of restaurants, coffee shops, and cultural destinations further enhances its appeal and supports strong year-round housing demand. Providence remains a compelling market for multifamily investment at the macro level. With a metro population exceeding 1.7 million, a strong institutional presence, and a growing economy anchored by education, healthcare, and technology, the city continues to draw residents, employers, and developers seeking affordability, accessibility, and urban lifestyle appeal. The combination of rising housing demand, limited new student housing development, and increasing college enrollment provides a solid foundation for long-term growth in this niche market.