Four-Unit Multifamily
161 Wood Street, Providence, RI 02909
For Sale
$1,150,000
Two buildings on one lot combine a three-unit residence with a separate four-bedroom home.
Property Size5,325 SF
Price / SF$215.96
Days on Market13
Property Features for 161 Wood Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Innovations Realty
(401) 414-7414
Listed By:
Nelson Sena · License RI RES.0035644
(401) 265-6750
Source:
Lockandkeyre
Added: Nov 2
Changed: Nov 12
Last Checked: Nov 12 at 7:50AM
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 Innovations Realty
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.
The property comprises two residential buildings with four units in total. One building contains three units with kitchens and parlors, plus a finished basement with in-building laundry. The second is a four-bedroom residence with 1.5 bathrooms and approximately 1,400 square feet of living area. The property measures 5,325 square feet and was built in 1930; updates include a newer roof and weatherization.
Key Highlights
- Two residential buildings on one lot, with four units total
- Three‑unit building includes a finished basement and in‑building laundry
- Separate home has 4 bedrooms, 1.5 bathrooms, and approximately 1,400 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,767
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,615,340
$1.6M
Cap Rate 7%
$1,153,814
$1.2M
Cap Rate 9%
$897,411
$897.4K
Market Conditions
NOI Build-Up for 5,325 SF
Gross rent
$156.6K $29.40/SF
− Vacancy
−$9.7K −$1.82/SF
EGI
$146.8K $27.58/SF
− OpEx
−$66.1K −$12.41/SF
NOI
$80.8K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,615,340
Cap Rate 7%
$1,153,814
Cap Rate 9%
$897,411
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,767 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,705 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,589
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Multifamily properties in Providence, RI
Properties on Market for Multifamily properties in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two buildings on one lot combine a three-unit residence with a separate four-bedroom home.
Where is this multifamily property located?
The property is located at 161 Wood Street Providence, RI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two residential buildings on one lot, with four units total; Three‑unit building includes a finished basement and in‑building laundry; Separate home has 4 bedrooms, 1.5 bathrooms, and approximately 1,400 square feet
