Remodeled 6-Unit Apartment
For Sale
$1,150,000
109 Sutton Street, Providence, RI 02903
Remodeled multifamily property with appliance packages, laundry equipment, and on-site parking.
Property Size4,900 SF
Price / SF$234.69
Days on Market61
Property Features for 109 Sutton Street
General Information
Standard status
Active
Size
4,900 SF
Total Parking Spaces
6
Property subtype
Commercial
Additional Details
Multifamily Units
6
Building Details
Year Built
1925
Listing Agency:
Coldwell Banker Realty
(401) 333-0010
Listed By:
Denise Mancini · License #REB.0013395
(401) 447-8785
Source:
Lockandkeyre
Added: Aug 6
Changed: Oct 4
Last Checked: Oct 5 at 6:53PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 6-unit apartment building offers approximately 4,900 square feet of residential space in a property originally constructed in 1925. The building has been remodeled and includes a fire alarm system. Each apartment is equipped with appliances and a washer and dryer, providing a consistent setup across the units.
The property is located in the Federal Hill section of Providence, Rhode Island. Six parking spaces are included on site, adding practical convenience for residents and supporting the building’s multifamily configuration.
The property is located in the Federal Hill section of Providence, Rhode Island. Six parking spaces are included on site, adding practical convenience for residents and supporting the building’s multifamily configuration.
Key Highlights
- 6‑unit apartment building with approximately 4,900 square feet
- Remodeled building originally constructed in 1925
- Fire alarm system included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,321
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,486,420
$1.5M
Cap Rate 7%
$1,061,729
$1.1M
Cap Rate 9%
$825,789
$825.8K
Market Conditions
NOI Build-Up for 4,900 SF
Gross rent
$144.1K $29.40/SF
− Vacancy
−$8.9K −$1.82/SF
EGI
$135.1K $27.58/SF
− OpEx
−$60.8K −$12.41/SF
NOI
$74.3K $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%
$1,486,420
Cap Rate 7%
$1,061,729
Cap Rate 9%
$825,789
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$929.0K – $1.24M
NOI $74,321 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,752 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,415
Businesses Nearby
Explore this area
Business Placement
Demographics for 02903, RI
13,264
Population
6,588
Households
2
Avg Household Size
33
Median Age
53%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
7,802
Density / Sq Mi
$62,987
Median Household Income
$40,294
Median Earnings
$1,640
Median Rent
$365,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled multifamily property with appliance packages, laundry equipment, and on-site parking.
Where is this apartment building located?
The property is located at 109 Sutton Street Providence, RI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 6‑unit apartment building with approximately 4,900 square feet; Remodeled building originally constructed in 1925; Fire alarm system included
