4-Unit Quadplex with Finished
For Sale
$869,000
17 Cromwell St, Providence, RI 02907
Updated utilities, remodeled bathrooms, and stainless steel appliances serve the residential units.
Property Size3,298 SF
Price / SF$263.49
Days on Market50
Property Features for 17 Cromwell St
General Information
Standard status
Active
Size
3,298 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1895
Listing Agency:
The Greene Realty Group
Listed By:
Derek Greene · License #MA9503235-RE-B
(860) 560-1006
Source:
Alpernandmesenbourg
Added: Aug 26
Changed: Oct 7
Last Checked: Oct 7 at 12:58PM
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 The Greene Realty Group
Investment Insights
Based on property information with market context.
This 4-unit quadplex, built in 1895, includes four residential units plus a fully finished attic currently used as an in-law suite. Unit improvements include remodeled bathrooms, stainless steel appliances, and updated utilities. The property is currently generating rental income and qualifies for FHA financing.
An unfinished basement provides space identified for a potential coin-operated laundry installation. The property is located in Providence with access to major highways, public transportation, shopping, restaurants, schools, and other local amenities.
An unfinished basement provides space identified for a potential coin-operated laundry installation. The property is located in Providence with access to major highways, public transportation, shopping, restaurants, schools, and other local amenities.
Key Highlights
- Four residential units plus a fully finished attic used as an in‑law suite
- Built in 1895 with 3,298 of property size
- Remodeled bathrooms and stainless steel appliances in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,690
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,113,800
$1.1M
Cap Rate 7%
$795,571
$795.6K
Cap Rate 9%
$618,778
$618.8K
Market Conditions
NOI Build-Up for 3,298 SF
Gross rent
$85.1K $25.80/SF
− Vacancy
−$5.5K −$1.68/SF
EGI
$79.6K $24.12/SF
− OpEx
−$23.9K −$7.24/SF
NOI
$55.7K $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%
$1,113,800
Cap Rate 7%
$795,571
Cap Rate 9%
$618,778
Alternative Uses
Best Use
Multifamily LT 5
$795.6K
$696.1K – $928.2K
NOI $55,690 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$714.6K
$625.3K – $833.7K
NOI $50,022 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$1.10M
$965.4K – $1.29M
NOI $77,235 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,641
Businesses Nearby
Explore this area
Business Placement
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated utilities, remodeled bathrooms, and stainless steel appliances serve the residential units.
Where is this quadplex located?
The property is located at 17 Cromwell St Providence, RI.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Four residential units plus a fully finished attic used as an in‑law suite; Built in 1895 with 3,298 of property size; Remodeled bathrooms and stainless steel appliances in each unit
