Four-Unit Multifamily Property with
New
For Sale
$700,000
141 Lafayette Street, Pawtucket, RI 02860
Four separate gas and electric meters allow utility billing directly to tenants.
Property Size3,456 SF
Price / SF$202.55
Days on Market5
Property Features for 141 Lafayette Street
General Information
Standard status
Active
Size
3,456 SF
Total Parking Spaces
10
Property subtype
MultiFamily
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Individually Metered Utilities
gas, electricity
Amenities
partially fenced yard
Building Details
Year Built
1925
Abandoned
No
Listing Agency:
Keller Williams Leading Edge
(401) 333-4900
Listed By:
Denali Group · License #52040
(401) 524-0770
Source:
Lockandkeyre
Added: Oct 29
Changed: Nov 1
Last Checked: Nov 1 at 5:32AM
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 Keller Williams Leading Edge
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Investment Insights
Based on property information with market context.
This 3,456-square-foot multifamily property, built in 1925, contains four equally sized two-bedroom units. Each apartment has a living room with bay windows and hardwood flooring. The property also includes a 10-car garage and a partially fenced yard.
Building systems include a fire alarm system, four separate gas and electric meters, and boilers approximately 10 years old. Two units have hot water tanks installed in 2025. The property is located at 141 Lafayette Street in Pawtucket.
Building systems include a fire alarm system, four separate gas and electric meters, and boilers approximately 10 years old. Two units have hot water tanks installed in 2025. The property is located at 141 Lafayette Street in Pawtucket.
Key Highlights
- Four equally sized two‑bedroom units
- 3,456 square feet; built in 1925
- 10‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,544
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,150,880
$1.2M
Cap Rate 7%
$822,057
$822.1K
Cap Rate 9%
$639,378
$639.4K
Market Conditions
NOI Build-Up for 3,456 SF
Gross rent
$87.9K $25.44/SF
− Vacancy
−$5.7K −$1.65/SF
EGI
$82.2K $23.79/SF
− OpEx
−$24.7K −$7.14/SF
NOI
$57.5K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,150,880
Cap Rate 7%
$822,057
Cap Rate 9%
$639,378
Alternative Uses
Best Use
Multifamily LT 5
$822.1K
$719.3K – $959.1K
NOI $57,544 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$652.4K
$570.9K – $761.2K
NOI $45,669 @ 7.0% cap · market cap 6.52%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,701
Businesses Nearby
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Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separate gas and electric meters allow utility billing directly to tenants.
Where is this quadplex located?
The property is located at 141 Lafayette Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Four equally sized two‑bedroom units; 3,456 square feet; built in 1925; 10‑car garage
