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Multifamily Investment Opportunity

1 & 2-4 Greystone Ave, North Providence, RI 02911

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For Sale

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Two income-producing properties in a desirable rental location.

Type:Multifamily

Property size:

9,498 SF

Price / SF:

$221/SF

HighLights

Strong performing investment opportunity with immediate cash flow.
Two income‑producing properties: a 9‑unit multifamily and a duplex.
Highly desirable rental location near Waterman Avenue and Putnam Pike in North Providence.
Excellent access to Route 44 and I‑295.
Located near the new Amazon distribution center, adding long‑term demand.
Recent renovations and future rent growth potential.

We can help!

Contact an agent

Michael Alves

For Sale

Contact for pricing

Two income-producing properties in a desirable rental location.

Type:Multifamily

Property size:

9,498 SF

Price / SF:

$221/SF

Added:: Mar 11, 2026
Days on Market:: 109
Last Refresh:: Mar 19 at 10:44 pm

Property Features for 1 & 2-4 Greystone Ave

General Information

Standard status: Active
Size: 9,498 SF
Property subtype: Multifamily

Building Details

Year Built: 1905

We can help!

Contact an agent

Michael Alves

Listing office Elite Commercial Realty

Listing date Mar 11, 2026

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Elite Commercial Realty

HighLights

Strong performing investment opportunity with immediate cash flow.
Two income‑producing properties: a 9‑unit multifamily and a duplex.
Highly desirable rental location near Waterman Avenue and Putnam Pike in North Providence.
Excellent access to Route 44 and I‑295.
Located near the new Amazon distribution center, adding long‑term demand.
Recent renovations and future rent growth potential.

Overview

This offering presents a strong performing investment opportunity, featuring two income-producing properties situated in a highly desirable rental location between Waterman Avenue and Putnam Pike near Centredale in North Providence. The properties benefit from excellent access to Route 44 and I-295. Located near the new Amazon distribution center currently under development, the properties stand to gain from long-term demand in the area. The offering includes 1 Greystone Street, a 9-unit multifamily property with a mix of 1- and 3-bedroom units, and 2–4 Greystone Street, a duplex featuring two 3-bedroom / 1-bath units. The combined properties offer a rare investment opportunity, combining stable in-place income, recent renovations, and future rent growth potential in a strong rental market. The total property size is 9498 square feet. With low vacancy and immediate cash flow, this is an ideal opportunity for investors seeking stable returns with additional upside.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$241.6k	$25.44
− Vacancy	−$15.7k	−$1.65
EGI	$225.9k	$23.79
− OpEx	−$67.8k	−$7.14
NOI	$158.1k	$16.65

9,498 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$2.26M

$1.98M – $2.64M (±1% cap)

NOI $158,146 @ 7.0% cap · market cap 7.53%

Second Best

Apartment 5plus

$1.79M

$1.57M – $2.09M (±1% cap)

NOI $125,512 @ 7.0% cap · market cap 5.98%

Theoretical Best

—

same as Best Use

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: North Providence
County: Providence
State: Rhode Island
Longitude: -71.4734
Latitude: 41.8539

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For sale
Apartment buildings
RI
North Providence
02911
1 & 2-4 Greystone Ave

What type of property is this?

Apartment building - Two income-producing properties in a desirable rental location.

Where is this apartment building located?

The property is located at 1 & 2-4 Greystone Ave North Providence, RI.

What is the asking price?

The asking price for this property is $2,100,000.

What are key features of this property?

This property features: Strong performing investment opportunity with immediate cash flow.; Two income‑producing properties: a 9‑unit multifamily and a duplex.; Highly desirable rental location near Waterman Avenue and Putnam Pike in North Providence.