Woonsocket Multifamily Investment
79 Hamlet Avenue, Woonsocket, RI 02895
- Added:
- Apr 7, 2026
- Days on Market:
- 51
- Last Refresh:
- May 27 at 10:06 pm
Property Features for 79 Hamlet Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Rooms
- Basement
- Parking
- 6
- Interior features
- Ceiling Height (7 to 9 Ft)
- Basement
- Full
- Standard status
- Pending
- Size
- 3,150 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8635
Building Details
- Year built
- 1920
- Floors in Building
- 2
Listing agent Riley White (401) 333-4900
Listing office Keller Williams Leading Edge 28 Thurber Boulevard, Lincoln, RI (401) 333-4900
Listing date Apr 7, 2026
MLS# 1409367
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.
HighLights
- Five‑unit building with strong rental appeal and immediate cash flow.
- Four 1‑bed/1‑bath units and one 3‑bed/1‑bath unit, all renovated in 2019.
- Lead certificates for all 5 units & exterior.
- Month‑to‑month tenants provide flexibility for rent increases.
- Located in a convenient, high‑demand area close to amenities and major routes.
- Efficient operating costs and security deposits in place for all units.
Overview
This well-maintained five-unit residential building in Woonsocket presents a fantastic investment opportunity. The property features four updated 1-bed/1-bath units and one spacious 3-bed/1-bath unit, all renovated in 2019. The units offer strong rental appeal, and tenants are month-to-month, providing flexibility for future rent increases or repositioning. The property generates solid in-place income with additional upside potential, making it suitable for both new and seasoned investors. The building is located in a convenient and high-demand area of Woonsocket, close to shops, restaurants, and major routes. The lot size is 0.18 acres. The property has efficient operating costs, security deposits in place for all units, and a history of stable occupancy, making it easy to manage. Lead certificates are available for all 5 units and the exterior. This turnkey multifamily property offers immediate cash flow and room to grow.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$462.5K
NOI $41,626 @ 9.00% cap · cautious / downside scenario
Moderate
$594.7K
NOI $41,626 @ 7.00% cap · market / base-case scenario
Aggressive
$832.5K
NOI $41,626 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.5k | $25.56 |
| − Vacancy | −$4.8k | −$1.53 |
| EGI | $75.7k | $24.03 |
| − OpEx | −$34.1k | −$10.81 |
| NOI | $41.6k | $13.21 |
3,150 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$594.7K
$520.3K – $693.8K
NOI $41,626 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$749.3K
$655.6K – $874.2K
NOI $52,449 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Woonsocket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.504476
- Latitude
- 42.001869
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Five-unit residential building in Woonsocket with strong rental appeal.
Where is this apartment building located?
The property is located at 79 Hamlet Avenue Woonsocket, RI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Five‑unit building with strong rental appeal and immediate cash flow.; Four 1‑bed/1‑bath units and one 3‑bed/1‑bath unit, all renovated in 2019.; Lead certificates for all 5 units & exterior.
