1582 Westminster St, Providence, RI 02909
Well-maintained 9-unit multifamily property in Providence's high-demand West Side.
- Added:
- Feb 20, 2026
- Days on Market:
- 128
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 1582 Westminster St
General Information
- Standard status
- Active
- Size
- 6,926 SF
- Property subtype
- Multifamily
Listing office MG Commercial
Listing date Feb 20, 2026
Source Crexi
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 MG Commercial
HighLights
- Stable, income‑producing asset in Providence's high‑demand West Side.
- Rare off‑street parking with garage space.
- Attractive mix of (3) 2‑bedroom and (6) 1‑bedroom units.
- On‑site laundry for tenant satisfaction.
- Strong transit access, walkable amenities, and quick connections to downtown and I‑95.
- Professionally operated and consistently maintained.
Overview
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 | $203.6k | $29.40 |
| − Vacancy | −$12.6k | −$1.82 |
| EGI | $191.0k | $27.58 |
| − OpEx | −$85.9k | −$12.41 |
| NOI | $105.0k | $15.17 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.4357787
- Latitude
- 41.8157061
