Four-Story Apartment
For Sale
$2,650,000
100 Bowen Street #8 units, Providence, RI 02906
Eight apartments offer a balanced mix of one- and two-bedroom layouts.
Property Size7,800 SF
Price / SF$339.74
Days on Market236
Property Features for 100 Bowen Street #8 units
General Information
Standard status
Active
Size
7,800 SF
Total Parking Spaces
4
Property subtype
Commercial
Occupancy
100%
Site & Location
Neighborhood
Blackstone
Road Access
Yes
Units
Unit Mix
4 x 2BR, 4 x 1BR
Multifamily Units
8
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$36,420
Amenities
hardwood floors
floor to ceiling windows
fireplaces
tile bathrooms
common laundry room
gas heat
private patio
Building Details
Building Size
7,800 SF
Year Built
1900
Buildings
1
Stories
3
Units
8
Construction
Brick
Listing Agency:
Bruce Allen, REALTORS
(401) 944-2477
Listed By:
Donald Coletti
(401) 640-4687
Source:
Berettarealty
Added: Mar 16
Changed: Nov 4
Last Checked: Nov 5 at 5:12AM
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 Bruce Allen, REALTORS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7,800-square-foot apartment property was built in 1900 and contains eight residences across four floors. The unit mix comprises four one-bedroom apartments and four two-bedroom apartments. Interior features include hardwood flooring, tile bathrooms, and eight fireplaces; some homes also have full-height windows. A shared laundry room and gas heat serve the building.
The property occupies a corner at Bowen and Congdon Streets, across from Prospect Park, and forms part of a 16-unit row building. Outdoor and parking features include a private 30-foot front-yard cobblestone patio and off-street parking for four cars.
The property occupies a corner at Bowen and Congdon Streets, across from Prospect Park, and forms part of a 16-unit row building. Outdoor and parking features include a private 30-foot front-yard cobblestone patio and off-street parking for four cars.
Key Highlights
- Eight apartments: four one‑bedroom and four two‑bedroom units
- 7,800 square feet across four floors; built in 1900
- Eight fireplaces, hardwood floors, and tile bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,306
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,366,120
$2.4M
Cap Rate 7%
$1,690,086
$1.7M
Cap Rate 9%
$1,314,511
$1.3M
Market Conditions
NOI Build-Up for 7,800 SF
Gross rent
$229.3K $29.40/SF
− Vacancy
−$14.2K −$1.82/SF
EGI
$215.1K $27.58/SF
− OpEx
−$96.8K −$12.41/SF
NOI
$118.3K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,366,120
Cap Rate 7%
$1,690,086
Cap Rate 9%
$1,314,511
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,306 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.28M – $3.04M
NOI $182,667 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
8
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight apartments offer a balanced mix of one- and two-bedroom layouts.
Where is this apartment building located?
The property is located at 100 Bowen Street #8 units Providence, RI.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Eight apartments: four one‑bedroom and four two‑bedroom units; 7,800 square feet across four floors; built in 1900; Eight fireplaces, hardwood floors, and tile bathrooms
