Renovated Two-Family
9 Octavia Street Providence, RI 02909
For Sale
$529,999
Pending
MULTI_FAMILY - Providence, RI
Property Size2,776 SF
Lot Size0.11 Acres
Days on Market142
Property Features for 9 Octavia Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R3
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Basement
- Parking
- 8
- Exterior features
- Balcony
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater
- Standard status
- Pending
- Size
- 2,776 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3080
Utilities
- Heating system
- Natural Gas, Baseboard
- Water source
- Public
Building Details
- Year built
- 1928
- Floors in Building
- 3
- Number of units
- 2
- Flooring type
- Tile - Ceramic, Laminate, Vinyl
Listing Agency:
Realpro By The Water
(401) 600-4100
Listed By:
The Realpro Group
(401) 400-2019
Added: Mar 7
Changed: Jul 23
Last Checked: Jul 27 at 6:06AM
MLS# 1406065
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 legal two-family home is situated on an R3 lot and offers nearly 5,000 sq ft of potential. The first unit has been fully renovated with modern finishes and is move-in ready. The second unit is fully livable and can be brought to your preferred look with personal updates.
An unfinished basement includes two egress points, adding flexibility for future expansion or additional storage. The home is also located near restaurants, shopping, public transit, and major highways.
Ideal for owner-occupants and investors, the property provides two separate living units with a renovated component and an adaptable lower level.
An unfinished basement includes two egress points, adding flexibility for future expansion or additional storage. The home is also located near restaurants, shopping, public transit, and major highways.
Ideal for owner-occupants and investors, the property provides two separate living units with a renovated component and an adaptable lower level.
Key Highlights
- Legal two‑family home on an R3 lot with nearly 5,000 sq ft of potential
- Fully renovated first unit is move‑in ready
- Second unit is fully livable and ready for personal updates
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 | $71.6k | $25.80 |
| − Vacancy | −$4.7k | −$1.68 |
| EGI | $67.0k | $24.12 |
| − OpEx | −$20.1k | −$7.24 |
| NOI | $46.9k | $16.89 |
2,776 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$669.7K
$586.0K – $781.3K
NOI $46,876 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$601.5K
$526.3K – $701.8K
NOI $42,105 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$928.7K
$812.6K – $1.08M
NOI $65,011 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Legal two-family residence with a fully renovated first unit and an unfinished basement with two egresses on an R3 lot.
Where is this duplex located?
The property is located at 9 Octavia Street Providence, RI.
What is the asking price?
The asking price for this property is $529,999.
What are key features of this property?
This property features: Legal two‑family home on an R3 lot with nearly 5,000 sq ft of potential; Fully renovated first unit is move‑in ready; Second unit is fully livable and ready for personal updates
