4-Unit Victorian
New
For Sale
$699,900
16 Academy Avenue, Providence, RI 02908
Residential Income, Providence, RI
Property Size2,748 SF
Lot Size0.13 Acres
Price / SF$254.69
Days on Market3
Property Features for 16 Academy Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 2, Bathroom 4, Bedroom 6, Bedroom 3, Basement, Bathroom 5, Bathroom 3, Bedroom 8, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 7
Parking features
None
Interior features
Wall (Dry Wall), Wall (Plaster), Attic, Attic Storage, Plumbing (Mixed), Insulation (Unknown)
Fireplace
1
Basement
Full, Unfinished
Appliances
Dryer, Oven, Range, Refrigerator, Washer, Gas Water Heater
Subdivision
Mt. Pleasant
Standard status
Active
Size
2,748 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6474
Utilities
Heating system
Natural Gas, Baseboard
Amenities
laundry facilities
parking
Building Details
Year built
1890
Floors in Building
3
Number of units
4
Flooring type
Tile - Ceramic, Hardwood, Carpet
Building materials
Dry Wall, Plaster, Clapboard
Additional Structures
Storage
Listing Agency:
Center Place Realty & Investm.
(401) 943-9797
Listed By:
Scott Grandfield
(401) 255-7424
Added: Oct 15
Changed: Oct 17
Last Checked: Oct 17 at 10:06AM
MLS# 1426091
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.
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Investment Insights
Based on property information with market context.
Built in 1890, this 2,748-square-foot Victorian quadplex contains four units: a studio, two one-bedroom apartments, and a five-bedroom townhouse with one and a half baths. Each residence has separate heating and electric service, along with laundry facilities. The property has undergone renovations over the past 20 years.
The Providence property is within walking distance of shopping, Federal Hill, Farm Fresh RI, and The Steel Yard.
The Providence property is within walking distance of shopping, Federal Hill, Farm Fresh RI, and The Steel Yard.
Key Highlights
- Four units: one studio, two one‑bedroom apartments, and a five‑bedroom townhouse
- 2,748 square feet on a 0.13‑acre lot
- Separate heating, electric service, and laundry facilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,403
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$928,060
$928.1K
Cap Rate 7%
$662,900
$662.9K
Cap Rate 9%
$515,589
$515.6K
Market Conditions
NOI Build-Up for 2,748 SF
Gross rent
$70.9K $25.80/SF
− Vacancy
−$4.6K −$1.68/SF
EGI
$66.3K $24.12/SF
− OpEx
−$19.9K −$7.24/SF
NOI
$46.4K $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%
$928,060
Cap Rate 7%
$662,900
Cap Rate 9%
$515,589
Alternative Uses
Best Use
Multifamily LT 5
$662.9K
$580.0K – $773.4K
NOI $46,403 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$595.4K
$521.0K – $694.7K
NOI $41,680 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$919.4K
$804.4K – $1.07M
NOI $64,355 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,603
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences feature separate heating, electric service, and laundry facilities.
Where is this quadplex located?
The property is located at 16 Academy Avenue Providence, RI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Four units: one studio, two one‑bedroom apartments, and a five‑bedroom townhouse; 2,748 square feet on a 0.13‑acre lot; Separate heating, electric service, and laundry facilities for each unit
