171 Ocean Street, Providence, RI 02905
MULTI_FAMILY - Providence, RI
- Added:
- Jun 29, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 30 at 5:06 am
Property Features for 171 Ocean Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 6, Bathroom 2, Bedroom 3, Basement, Bedroom 7, Bedroom 1, Bathroom 3, Bedroom 8, Bathroom 4, Bedroom 5, Bathroom 1, Bedroom 2
- Parking
- 2
- Parking features
- Garage
- Patio and Porch features
- Porch
- Interior features
- Stairs, Plumbing (Mixed)
- Exterior features
- Porch
- Basement
- Full, Unfinished
- Appliances
- Electric Water Heater, Dishwasher, Microwave, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 3,300 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2025
Utilities
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2026
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Tile - Ceramic, Hardwood
- Building materials
- Vinyl Siding
Listing agent The InnoVenture Team (508) 726-3492
Listing office Century 21 Visionary Group 969 Waterman Avenue, Suite 3, East Providence, RI (401) 380-6020
Listing date Jun 29, 2026
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.
HighLights
- Brand new two‑family built in 2026 with 4 bedrooms and 2 full bathrooms per unit
- Each unit includes granite countertops and stainless steel appliances
- Spa‑like baths, individual sub‑panels, and forced hot air heat with central AC throughout
- Finished flooring includes tile (ceramic) and hardwood
- Spacious basement offers ADU potential
- Garage parking plus a paved driveway and a porch
Overview
The asset is located at 171 Ocean Street in Providence, Rhode Island. The listing is positioned as move-in ready, with a lot size of approximately 0.08 acres and a total building size of about 3,300 square feet.
This configuration can fit owner-occupants who want to live in one unit and rent the other, as well as investors seeking a turn-key, newly built multifamily structure. With updated systems, modern kitchen and bath finishes, and a large basement area that can be adapted for additional living space, the property may be well suited for tenants looking for contemporary, comfortable units.
Local Financial Insights For Multifamily LT 5
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 | $85.1k | $25.80 |
| − Vacancy | −$5.5k | −$1.68 |
| EGI | $79.6k | $24.12 |
| − OpEx | −$23.9k | −$7.24 |
| NOI | $55.7k | $16.89 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.410013
- Latitude
- 41.801132
