New Construction
For Sale
$1,199,900
141 Ocean St, Providence, RI 02905
Four residential units include three 3-bedroom layouts and one 1-bedroom unit.
Property Size4,033 SF
Price / SF$297.52
Days on Market53
Property Features for 141 Ocean St
General Information
Standard status
Active
Size
4,033 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Amenities
off-street parking
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Remax Revolution
Listed By:
Jessica Rebello · License #RES.0035399
(401) 327-2611
Source:
Rhodeislandhomesforsale
Added: Aug 28
Changed: Oct 19
Last Checked: Oct 19 at 7:12AM
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 Remax Revolution
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 141 Ocean Street in Providence, this 4,033-square-foot quadplex contains four residential units. Three units offer 3 bedrooms and 2 full bathrooms, while the lower-level unit provides 1 bedroom and 1 full bathroom. The layouts include modern finishes and practical living spaces suited to multifamily occupancy.
Built in 2026, the property includes off-street parking and new-construction improvements. Its Providence setting provides access to major roadways, shopping, dining, and local amenities. The four-unit configuration combines a consistent three-bedroom layout across most of the building with a smaller lower-level residence.
Built in 2026, the property includes off-street parking and new-construction improvements. Its Providence setting provides access to major roadways, shopping, dining, and local amenities. The four-unit configuration combines a consistent three-bedroom layout across most of the building with a smaller lower-level residence.
Key Highlights
- 4,033 SF quadplex with four residential units
- Three units feature 3 bedrooms and 2 full bathrooms
- Lower‑level unit includes 1 bedroom and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,102
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,362,040
$1.4M
Cap Rate 7%
$972,886
$972.9K
Cap Rate 9%
$756,689
$756.7K
Market Conditions
NOI Build-Up for 4,033 SF
Gross rent
$104.1K $25.80/SF
− Vacancy
−$6.8K −$1.68/SF
EGI
$97.3K $24.12/SF
− OpEx
−$29.2K −$7.24/SF
NOI
$68.1K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,362,040
Cap Rate 7%
$972,886
Cap Rate 9%
$756,689
Alternative Uses
Best Use
Multifamily LT 5
$972.9K
$851.3K – $1.14M
NOI $68,102 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$873.9K
$764.6K – $1.02M
NOI $61,170 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,448 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,576
Businesses Nearby
Explore this area
Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units include three 3-bedroom layouts and one 1-bedroom unit.
Where is this quadplex located?
The property is located at 141 Ocean St Providence, RI.
What is the asking price?
The asking price for this property is $1,199,900.
What are key features of this property?
This property features: 4,033 SF quadplex with four residential units; Three units feature 3 bedrooms and 2 full bathrooms; Lower‑level unit includes 1 bedroom and 1 full bathroom
