Three-Unit Residential Income
1166 N Main Street Providence, RI 02906
1166 N Main Street, Providence, RI, 02906
$789,000
For Sale
$789,000
MULTI_FAMILY - Providence, RI
Property Size3,240 SF
Lot Size0.13 Acres
Price / SF$243.52
Days on Market68
Property Features for 1166 N Main Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 7, Bedroom 9, Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 8, Bathroom 1, Bedroom 2, Basement
- Parking
- 10
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 3,240 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7103
Utilities
- Heating system
- Natural Gas, Baseboard
Building Details
- Year built
- 1900
- Number of units
- 3
- Flooring type
- Tile - Ceramic, Hardwood
- Building materials
- Vinyl Siding
Listing Agency
Lenox Realty Group
(401) 572-3322
380 Broadway, East Providence, RI
Listed by
Gabe Francis
(401) 354-7092
Added: May 12 Checked: Jul 18 at 4:06 pm
MLS# 1412457
Listing URL
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-family home offers three bedrooms in each unit and a straightforward income-ready layout designed for residential use. The exterior features durable vinyl siding, and the property has a roof that is approximately three years old. A detached garage in the rear provides practical storage and additional flexibility for future planning.
Located at 1166 N Main Street in Providence, the building sits on a small lot size of approximately 0.1312 acres. The property is zoned C-2 Commercial, which may support a range of uses depending on approval. The listing notes nearby retail and lifestyle amenities, including Whole Foods, dining and shopping options, and a recently opened LA Fitness.
For buyers and investors, this configuration can appeal to those seeking a multi-unit residential asset with durable exterior improvements and an on-site garage. The fact that each unit is currently leased is relevant for operators evaluating an income-producing property, and the detached garage may be useful for tenant storage. This offering is also available as part of a package with 1172 North Main Street, which may be of interest for those looking to assemble additional holdings.
Located at 1166 N Main Street in Providence, the building sits on a small lot size of approximately 0.1312 acres. The property is zoned C-2 Commercial, which may support a range of uses depending on approval. The listing notes nearby retail and lifestyle amenities, including Whole Foods, dining and shopping options, and a recently opened LA Fitness.
For buyers and investors, this configuration can appeal to those seeking a multi-unit residential asset with durable exterior improvements and an on-site garage. The fact that each unit is currently leased is relevant for operators evaluating an income-producing property, and the detached garage may be useful for tenant storage. This offering is also available as part of a package with 1172 North Main Street, which may be of interest for those looking to assemble additional holdings.
Key Highlights
- Large 3‑family home on North Main Street, with each unit featuring 3 bedrooms
- Units are currently leased and income‑producing
- Vinyl siding exterior and natural gas heating with baseboard heat
Local Financial Insights For Multifamily LT 5
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 | $83.6k | $25.80 |
| − Vacancy | −$5.4k | −$1.68 |
| EGI | $78.2k | $24.12 |
| − OpEx | −$23.4k | −$7.24 |
| NOI | $54.7k | $16.89 |
3,240 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$781.6K
$683.9K – $911.9K
NOI $54,711 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$702.0K
$614.3K – $819.1K
NOI $49,143 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.08M
$948.5K – $1.26M
NOI $75,877 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-bedroom-per-unit structure with vinyl siding, a recently updated roof, and a detached rear garage for added storage.
Where is this triplex located?
The property is located at 1166 N Main Street Providence, RI.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Large 3‑family home on North Main Street, with each unit featuring 3 bedrooms; Units are currently leased and income‑producing; Vinyl siding exterior and natural gas heating with baseboard heat
