A two-family home on Providence's East Side just changed hands for $1.4 million, landing it among the priciest multifamily sales the neighborhood has seen so far this year. The property at 12 University Ave., tucked between Wayland Square and College Hill, comes with eight bedrooms, five bathrooms and 3,435 square feet of living space spread across two units, plus tenants already locked into a lease.
A Renovated Classic With Tenants In Place
According to Providence Business News, Compass Inc. represented both the buyer and seller in the deal, and the sale ranked as the third-highest-priced two-family home sale on the East Side year to date, based on Rhode Island Statewide MLS records. The house was built in 1900, per the Providence property assessor database, and underwent a gut renovation in 2020, according to Compass. The first apartment carries three bedrooms and two bathrooms, while the second unit has five bedrooms and three bathrooms.
Per the Compass listing cited in the report, the property is leased through May 31, 2027, and generates gross monthly rental income of $8,800. The listing also noted no history of vacancy. Amenities include central air conditioning, in-unit laundry, off-street parking and a full-height basement, and the report notes the property has potential for an accessory dwelling unit, subject to further evaluation.
Assessment Figures And Who Was Involved
The city assessor database puts the property's fiscal 2026 total valuation at $1.3 million, broken down into a $772,400 building value, a $521,400 land value and a $1,300 outbuilding value, the outlet's report states. Scott Champagne represented both the buyers and the sellers, according to Compass. The warranty deed shows 12 University Avenue LLC sold the property to Horacio Hojman of Barrington.
How It Stacks Up On The East Side Market
The $1.4 million sale fits into a string of notable East Side transactions this year. A renovated two-family home at 256-258 President Ave., in the Grotto neighborhood near Blackstone Boulevard and Wayland Square, sold for $1.6 million, the same outlet previously reported. That 4,215-square-foot property, built in 1930 with six bedrooms and three full bathrooms, had last sold for $1.355 million in June 2025 and was assessed at roughly $1.35 million for fiscal 2026, with Gerri Schiffman of Residential Properties Ltd. representing the buyer and Jessica Nuttall of Keller Williams Realty representing the seller.
At the higher end of the market, a sale of 79 Clarendon Ave. on the East Side closed for $4.5 million, according to GoLocalProv, which reported the home was designed by architect Prescott O. Clarke in 1896 and marked Providence's highest sale since September 2025, per State-Wide MLS data. Residential Properties sales associate Jim DeRentis was involved on both sides of that transaction. Together, the sales illustrate a range of price points across the East Side's two-family and single-family stock, from renovated rental properties generating steady monthly income to historic architect-designed estates commanding multimillion-dollar prices.
