Pawtucket Multifamily Investment
15 Angle Street, Pawtucket, RI 02865
- Added:
- Jan 7, 2026
- Days on Market:
- 146
- Last Refresh:
- Jun 2 at 4:06 pm
Property Features for 15 Angle Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Apartment
- Rooms
- Basement
- Parking
- 6
- Security features
- Security Lighting
- Interior features
- Ceiling Height (7 to 9 Ft)
- Basement
- Full
- Standard status
- Pending
- Size
- 4,150 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5100
Utilities
- Heating system
- Baseboard
Building Details
- Year built
- 1906
- Floors in Building
- 3
- Number of units
- 5
Listing agent Frank Miele (401) 265-0521
Listing office Prime Time Properties, Inc. 498 Broadway, providence, RI (401) 454-1300
Listing date Jan 7, 2026
MLS# 1402403
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.
HighLights
- High Income Potential: 5 units (2 one‑bed, 2 two‑bed, 1 three‑bed) all currently rented month‑to‑month.
- ADU Conversion Potential: 3 garages offer the opportunity to convert into additional dwelling units (ADU) for increased income.
- Tenant‑Paid Utilities: Tenants are responsible for covering their own utility costs.
- Updated Electrical System.
- Low Maintenance Exterior: Vinyl siding provides easy maintenance.
- Convenient Location: Easy access to Route 95, downtown Providence, new soccer field, and the Massachusetts state line.
Overview
This is an investment opportunity to own a five-unit residential building situated in the Darlington section of Pawtucket. The building features two one-bedroom units, two two-bedroom units, and one three-bedroom unit. The property is located on a 7350 square foot lot and includes three garages that offer the potential for conversion into an ADU unit for additional income. The building is fully rented on a month-to-month basis, and tenants are responsible for covering their own utilities. The property is fully fire coded and features a vinyl-sided exterior for ease of maintenance. Electrical systems have been updated. Ample parking is available for tenants. The location offers convenient access to Route 95, downtown Providence, the new soccer field, and the Massachusetts state line.
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 Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Pawtucket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.372906
- Latitude
- 41.882429
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Five-unit residential building in Pawtucket's Darlington section, fully rented.
Where is this apartment building located?
The property is located at 15 Angle 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: High Income Potential: 5 units (2 one‑bed, 2 two‑bed, 1 three‑bed) all currently rented month‑to‑month.; ADU Conversion Potential: 3 garages offer the opportunity to convert into additional dwelling units (ADU) for increased income.; Tenant‑Paid Utilities: Tenants are responsible for covering their own utility costs.
