Six-Unit Brick Multifamily
115 Roger Williams East Providence, RI 02916
115 Roger Williams, East Providence, RI, 02916
$969,900
For Sale
$969,900
Six-unit multifamily property with development potential in Rumford.
Property Size4,284 SF
Lot Size0.46 Acres
Price / SF$226.40
Days on Market107
Property Features for 115 Roger Williams
General Information
- Standard status
- Active
- Size
- 4,284 SF
- Lot size
- 0.46 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1890
Listing Agency
PAIVA REALTY GROUP
(401) 438-7149
Listed by
RAYMOND PAIVA
Source
Corcoran
Added: Apr 2 Checked: Jul 17 at 6:10 pm
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 PAIVA REALTY GROUP
Investment Insights
Based on property information with market context.
This unique brick six-unit complex is located in Rumford. The land is zoned R-5, offering potential for up to 13 units. The complex is registered with the Rhode Island Board of Health, and all six units have updated lead-safe certificates. The property includes two separate two-car garages and a total of 14 parking spaces, situated on a lot over 20,000 square feet. There are two gas heating systems with two new gas hot water tanks on each side of the building. All units consist of one bedroom, a living room, an eat-in kitchen, and a full bathroom. Each side of the building has a coin-operated washer and dryer for tenants' convenience. The property size is 4,284 square feet. Current rents are below market with long-term tenants.
Key Highlights
- Zoned R‑5 with potential for up to 13 units, offering expansion possibilities
- Six‑unit brick building with updated lead‑safe certificates for all units
- Large lot (over 20,000 sq ft) with ample parking (14 spaces) and two separate two‑car garages
Local Financial Insights For Apartment 5plus
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 | $109.5k | $25.56 |
| − Vacancy | −$6.6k | −$1.53 |
| EGI | $102.9k | $24.03 |
| − OpEx | −$46.3k | −$10.81 |
| NOI | $56.6k | $13.21 |
4,284 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$808.7K
$707.6K – $943.5K
NOI $56,611 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.02M
$891.6K – $1.19M
NOI $71,331 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit multifamily property with development potential in Rumford.
Where is this apartment building located?
The property is located at 115 Roger Williams East Providence, RI.
What is the asking price?
The asking price for this property is $969,900.
What are key features of this property?
This property features: Zoned R‑5 with potential for up to 13 units, offering expansion possibilities; Six‑unit brick building with updated lead‑safe certificates for all units; Large lot (over 20,000 sq ft) with ample parking (14 spaces) and two separate two‑car garages
