Residential Building in Darlington
15 Angle Pawtucket, RI 02865
15 Angle, Pawtucket, RI, 02865
$700,000
Pending
For Sale
$700,000
Pending
Five-unit residential building with garages in Pawtucket, Rhode Island.
Property Size4,150 SF
Lot Size0.17 Acres
Days on Market194
Property Features for 15 Angle
General Information
- Standard status
- Pending
- Size
- 4,150 SF
- Lot size
- 0.17 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1906
Listing agency
PRIME TIME PROPERTIES, INC.
(401) 454-1300
Listed by
FRANK MIELE
Source
Corcoran
Added: Jan 8 Updated: Jul 6 at 10:03AM Checked: Jul 21 at 5:06AM
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 PRIME TIME PROPERTIES, INC.
Investment Insights
Based on property information with market context.
This five-unit residential building is located in the Darlington section of Pawtucket. The building includes two one-bedroom units, two two-bedroom units, and one three-bedroom unit. The property sits on a 7,350-square-foot lot and includes three garages that could potentially be converted into an additional dwelling unit (ADU) for added income. The building is fully rented on a month-to-month basis, and tenants are responsible for utilities. The exterior features vinyl siding for low maintenance. Electrical systems have been updated, and there is ample parking available for tenants. The property is conveniently located with easy access to Route 95, downtown Providence, the new soccer field, and the Massachusetts state line. The building is fully fire coded and has a total size of 4,150 square feet.
Key Highlights
- Five‑unit residential building with a diverse mix of units.
- Garages offer ADU conversion potential for increased income.
- Fully rented, tenants pay utilities, providing immediate income.
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 | $106.1k | $25.56 |
| − Vacancy | −$6.4k | −$1.53 |
| EGI | $99.7k | $24.03 |
| − OpEx | −$44.9k | −$10.81 |
| NOI | $54.8k | $13.21 |
4,150 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$783.4K
$685.5K – $914.0K
NOI $54,840 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$987.1K
$863.7K – $1.15M
NOI $69,099 @ 7.0% cap · market cap 9.87%
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 - Five-unit residential building with garages in Pawtucket, Rhode Island.
Where is this apartment building located?
The property is located at 15 Angle 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: Five‑unit residential building with a diverse mix of units.; Garages offer ADU conversion potential for increased income.; Fully rented, tenants pay utilities, providing immediate income.
