Three-Unit Multifamily with
1172 N Main Street Providence, RI 02906
1172 N Main Street, Providence, RI, 02906
$799,000
For Sale
$799,000
MULTI_FAMILY - Providence, RI
Property Size3,240 SF
Lot Size0.11 Acres
Price / SF$246.60
Days on Market68
Property Features for 1172 N Main Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 8, Bedroom 9, Bedroom 3, Bedroom 7, Basement, Bathroom 2, Bedroom 5, Bedroom 2, Bathroom 3
- Parking
- 10
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 3,240 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 7285
Utilities
- Heating system
- Natural Gas, Baseboard
Building Details
- Year built
- 1900
- Number of units
- 3
- Flooring type
- Tile - Ceramic, Hardwood
- Building materials
- Vinyl Siding
Listing Agency
Lenox Realty Group
(401) 572-3322
380 Broadway, East Providence, RI
Listed by
Gabe Francis
(401) 354-7092
Added: May 12 Checked: Jul 18 at 8:06 am
MLS# 1412455
Listing URL
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a spacious three-unit multifamily property offering three bedrooms in each unit. The exterior is vinyl-sided, and the roof is approximately three years old. In addition to the residential units, the site includes a substantial three-bay cinder block garage, providing extra on-site space and versatility.
The property is located on North Main Street in Providence, RI, just off major highways. The surrounding area offers nearby shopping and dining, including Whole Foods, and the new LA Fitness is described as being just blocks away. The listing also notes that this property can be packaged with 1166 North Main Street.
Zoned C-2 Commercial, the building may appeal to buyers and operators looking for residential income alongside redevelopment flexibility. With all units currently leased, it can also be considered for those seeking an income-producing setup while evaluating the site and permitted options under the C-2 designation.
The property is located on North Main Street in Providence, RI, just off major highways. The surrounding area offers nearby shopping and dining, including Whole Foods, and the new LA Fitness is described as being just blocks away. The listing also notes that this property can be packaged with 1166 North Main Street.
Zoned C-2 Commercial, the building may appeal to buyers and operators looking for residential income alongside redevelopment flexibility. With all units currently leased, it can also be considered for those seeking an income-producing setup while evaluating the site and permitted options under the C-2 designation.
Key Highlights
- Spacious 3‑unit property on North Main Street; each unit has 3 bedrooms and is currently leased
- Vinyl‑siding exterior with a roof that is approximately 3 years old for low‑maintenance ownership
- Substantial 3‑bay cinder block garage in back adds extra functionality and storage space
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.6k | $25.80 |
| − Vacancy | −$5.4k | −$1.68 |
| EGI | $78.2k | $24.12 |
| − OpEx | −$23.4k | −$7.24 |
| NOI | $54.7k | $16.89 |
3,240 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$781.6K
$683.9K – $911.9K
NOI $54,711 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$702.0K
$614.3K – $819.1K
NOI $49,143 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$1.08M
$948.5K – $1.26M
NOI $75,877 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three leased units with three bedrooms each, plus a three-bay cinder block garage, in a C-2 zoned property.
Where is this triplex located?
The property is located at 1172 N Main Street Providence, RI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Spacious 3‑unit property on North Main Street; each unit has 3 bedrooms and is currently leased; Vinyl‑siding exterior with a roof that is approximately 3 years old for low‑maintenance ownership; Substantial 3‑bay cinder block garage in back adds extra functionality and storage space
