13-Unit Brick Apartment
For Sale
$2,100,000
110 Benefit Street, Providence, RI 02903
Historic multifamily property with studio and one-bedroom layouts, basement laundry, and off-street parking.
Property Size8,718 SF
Lot Size0.14 Acres
Price / SF$240.88
Days on Market54
Property Features for 110 Benefit Street
General Information
Standard status
Active
Size
8,718 SF
Total Parking Spaces
8
Lot size
0.14 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 1BR/1BA, 11 x Studio
Multifamily Units
13
Amenities
laundry
Building Details
Year Built
1870
Buildings
1
Construction
brick
Listing Agency:
Horvath & Tremblay
(781) 776-4000
Listed By:
Sean McHale · License #RES.0049296
(401) 600-4224
Source:
Lockandkeyre
Added: Aug 13
Changed: Oct 4
Last Checked: Oct 5 at 6:33PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Built in 1870, this multi-story brick apartment property contains 13 units, including 11 studios and two 1-bedroom/1-bathroom apartments. The building offers 6,108 square feet of gross living area within 8,718 square feet of gross area, along with eight off-street parking spaces and laundry systems in the basement. The property occupies a 0.14-acre parcel at 110 Benefit Street in Providence.
Set in the College Hill neighborhood, the property is near Brown University, the Rhode Island School of Design, Downtown Providence, and area dining, retail, parks, and the Providence River waterfront. Interstate 95, Interstate 195, and Route 6 provide regional connections across Rhode Island and toward Boston and southeastern Massachusetts.
Set in the College Hill neighborhood, the property is near Brown University, the Rhode Island School of Design, Downtown Providence, and area dining, retail, parks, and the Providence River waterfront. Interstate 95, Interstate 195, and Route 6 provide regional connections across Rhode Island and toward Boston and southeastern Massachusetts.
Key Highlights
- 13‑unit brick apartment building constructed in 1870
- Unit mix includes 11 studios and two 1‑bedroom/1‑bathroom apartments
- 6,108 square feet of gross living area within 8,718 square feet of gross area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,230
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,644,600
$2.6M
Cap Rate 7%
$1,889,000
$1.9M
Cap Rate 9%
$1,469,222
$1.5M
Market Conditions
NOI Build-Up for 8,718 SF
Gross rent
$256.3K $29.40/SF
− Vacancy
−$15.9K −$1.82/SF
EGI
$240.4K $27.58/SF
− OpEx
−$108.2K −$12.41/SF
NOI
$132.2K $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%
$2,644,600
Cap Rate 7%
$1,889,000
Cap Rate 9%
$1,469,222
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.65M – $2.20M
NOI $132,230 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.92M
$2.55M – $3.40M
NOI $204,165 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
13
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,602
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Historic multifamily property with studio and one-bedroom layouts, basement laundry, and off-street parking.
Where is this apartment building located?
The property is located at 110 Benefit Street 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: 13‑unit brick apartment building constructed in 1870; Unit mix includes 11 studios and two 1‑bedroom/1‑bathroom apartments; 6,108 square feet of gross living area within 8,718 square feet of gross area
