123 Laban Street Providence, RI 02909
MULTI_FAMILY - Providence, RI
Property Features for 123 Laban Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Zoning
- R-2
- Bedrooms
- 8
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 3, Basement, Bedroom 8, Bedroom 1, Bathroom 3, Bedroom 4, Bedroom 6, Bedroom 7
- Parking
- 6
- Parking features
- None
- Interior features
- Wall (Dry Wall), Plumbing (Copper), Plumbing (PVC)
- Basement
- Full, Partially Finished
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 2,322 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 3515
Utilities
- Heating system
- Baseboard, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Hardwood, Carpet, Vinyl, Tile - Ceramic
- Building materials
- Dry Wall, Other Siding
Listing agent Elvis Santana (401) 300-0833
Listing office Circle 100 Real Estate 359 Broad Street, Floor 2, Providence, RI (401) 336-6083
Listing date Jul 15, 2026
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.
The second and third floors have recently been renovated and are currently generating market rents. The first floor is positioned for cosmetic updates to enhance the overall property and rental income potential.
Set on a 0.0997-acre lot, the building is zoned R-2 and is offered for sale in Providence, Rhode Island.
Key Highlights
- Multi‑family home with multiple bedrooms and bathrooms, plus a partially finished basement for additional usable space
- Second and third floors are recently renovated and currently generating market rents
- Recent exterior updates include new vinyl siding, new gutters, and repaved driveway with off‑street parking
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 | $59.9k | $25.80 |
| − Vacancy | −$3.9k | −$1.68 |
| EGI | $56.0k | $24.12 |
| − OpEx | −$16.8k | −$7.24 |
| NOI | $39.2k | $16.89 |
