14-Unit Apartment Building
191-199 Dexter, Providence, RI 02907
For Sale
$2,750,000
Four-building residential portfolio with separately metered utilities, dedicated parking, and lead certificates for every unit.
Property Size10,623 SF
Lot Size0.32 Acres
Price / SF$258.87
Days on Market52
Property Features for 191-199 Dexter
General Information
Standard status
Size
Lot size
Zoning
Site & Location
Neighborhood
Utilities to Site
Units
Unit Mix
Multifamily Units
Parking per Unit
Additional Details
Cap Rate
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Westcott Properties
Listed By:
Joy Riley · License RI #3100765
(401) 952-7887
Source:
413realestate
Added: Sep 22
Changed: Nov 8
Last Checked: Nov 12 at 4:49AM
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 Westcott Properties
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.
This apartment portfolio includes four buildings containing 14 units, with a mix of seven one-bedroom, six two-bedroom, and one four-bedroom residences. The properties provide 23 bedrooms and 15 bathrooms overall. Each apartment has separate metering for heat, hot water, and electricity, while a two-car garage and one assigned off-street parking space per unit support resident parking. Lead certificates are on file for all units.
The assemblage comprises two contiguous R-3 lots totaling 13,776 square feet at 191-199 Dexter in Providence’s West End/Armory neighborhood. The location is off Westminster Street and near Cranston Street. Built in 1900, the portfolio currently reflects a 6.0% cap rate based on current income.
The assemblage comprises two contiguous R-3 lots totaling 13,776 square feet at 191-199 Dexter in Providence’s West End/Armory neighborhood. The location is off Westminster Street and near Cranston Street. Built in 1900, the portfolio currently reflects a 6.0% cap rate based on current income.
Key Highlights
- 14 units across four apartment buildings
- Unit mix includes seven one‑bedroom, six two‑bedroom, and one four‑bedroom apartments
- 23 bedrooms and 15 bathrooms in total
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,124
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,222,480
$3.2M
Cap Rate 7%
$2,301,771
$2.3M
Cap Rate 9%
$1,790,267
$1.8M
Market Conditions
NOI Build-Up for 10,623 SF
Gross rent
$312.3K $29.40/SF
− Vacancy
−$19.4K −$1.82/SF
EGI
$293.0K $27.58/SF
− OpEx
−$131.8K −$12.41/SF
NOI
$161.1K $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%
$3,222,480
Cap Rate 7%
$2,301,771
Cap Rate 9%
$1,790,267
Alternative Uses
Best Use
Apartment 5plus
$2.30M
$2.01M – $2.69M
NOI $161,124 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.55M
$3.11M – $4.15M
NOI $248,778 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
14
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,862
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
$311,600
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Providence, RI
Properties on Market for Apartment buildings in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Four-building residential portfolio with separately metered utilities, dedicated parking, and lead certificates for every unit.
Where is this apartment building located?
The property is located at 191-199 Dexter Providence, RI.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 14 units across four apartment buildings; Unit mix includes seven one‑bedroom, six two‑bedroom, and one four‑bedroom apartments; 23 bedrooms and 15 bathrooms in total
