Six-Unit Apartment Building with
17 Ledge Street Providence Providence, RI 02904
17 Ledge Street Providence, Providence, RI, 02904
$975,000
Pending
For Sale
$975,000
Pending
Six-unit building with 13 bedrooms, updated interiors, energy-efficient heating, and parking for 15+ vehicles.
Property Size5,688 SF
Days on Market50
Property Features for 17 Ledge Street Providence
General Information
- Standard status
- Pending
- Size
- 5,688 SF
Building Details
- Year Built
- 1870
Listing agency
(508) 501-1443
Listed by
Debra Viveiros
(508) 501-1443
Source
Milestonerealtyinc
Added: Jun 4 Updated: Jul 10 at 1:49PM Checked: Jul 23 at 2:43AM
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 Debra Viveiros
Investment Insights
Based on property information with market context.
This for-sale six-unit apartment building totals 13 bedrooms across six residential units. The property is described as well maintained and updated, with an energy-efficient heating system already in place to support day-to-day operating efficiency. The site includes an oversized lot and ample off-street parking, accommodating 15+ vehicles.
The building is centrally located in Providence, with convenient access to restaurants, shopping, public transportation, and major amenities. The combination of a residential layout and parking on an oversized lot can be particularly attractive for tenants who want both access and convenience.
For buyers looking for a straightforward multifamily asset, the unit mix provides a multi-door structure with a clear bedroom count across the building. The updated condition and energy-efficient heating are practical attributes for an operator, while the parking capacity on-site helps reduce reliance on street parking for residents. With its established configuration and convenient access to daily needs, the property may fit buyers seeking a well-suited residential income building for long-term ownership.
The building is centrally located in Providence, with convenient access to restaurants, shopping, public transportation, and major amenities. The combination of a residential layout and parking on an oversized lot can be particularly attractive for tenants who want both access and convenience.
For buyers looking for a straightforward multifamily asset, the unit mix provides a multi-door structure with a clear bedroom count across the building. The updated condition and energy-efficient heating are practical attributes for an operator, while the parking capacity on-site helps reduce reliance on street parking for residents. With its established configuration and convenient access to daily needs, the property may fit buyers seeking a well-suited residential income building for long-term ownership.
Key Highlights
- Six‑unit multi‑family property with 13 bedrooms total
- Updated interiors and well‑maintained building (per provided remarks)
- Energy‑efficient heating system in place
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 | $167.2k | $29.40 |
| − Vacancy | −$10.4k | −$1.82 |
| EGI | $156.9k | $27.58 |
| − OpEx | −$70.6k | −$12.41 |
| NOI | $86.3k | $15.17 |
5,688 SF · lease $29.40/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,273 @ 7.0% cap · market cap 8.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.67M – $2.22M
NOI $133,206 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit building with 13 bedrooms, updated interiors, energy-efficient heating, and parking for 15+ vehicles.
Where is this apartment building located?
The property is located at 17 Ledge Street Providence Providence, RI.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Six‑unit multi‑family property with 13 bedrooms total; Updated interiors and well‑maintained building (per provided remarks); Energy‑efficient heating system in place
