14-Unit Apartment
For Sale
$2,750,000
191 Dexter Street, Providence, RI 02907
Commercial/Business,Commercial Sale, Providence, RI
Property Size10,623 SF
Lot Size0.32 Acres
Price / SF$258.87
Days on Market42
Property Features for 191 Dexter Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R3
Parking
18
Subdivision
West End/ Armory District
Lot features
Free Standing
Standard status
Active
Size
10,623 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
37067
Utilities
Heating system
Baseboard
Building Details
Year built
1900
Floors in Building
3
Building materials
Frame
Listing Agency:
Westcott Properties
Listed By:
Joy Riley · License #3100765
(401) 421-5300
Added: Sep 21
Changed: Oct 2
Last Checked: Nov 1 at 1:06AM
MLS# 1421663
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.
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Investment Insights
Based on property information with market context.
This Providence multifamily portfolio includes four frame buildings containing 14 apartments, with a mix of seven one-bedroom, six two-bedroom, and one four-bedroom units. The properties provide 23 bedrooms and 15 bathrooms, with individual metering for heat, hot water, and electric. Baseboard heating serves the buildings, which date to 1900. Lead certificates are on file for every unit, and floor plans plus 3D walkthroughs are available for most apartments.
The assemblage occupies two contiguous R-3 lots totaling 13,776 square feet at 191 Dexter Street in Providence's West End/Armory area, near Westminster Street and Cranston Street. A two-car garage complements the off-street parking, with one dedicated space assigned to each apartment. The portfolio is offered at a 6.0% cap rate based on current income.
The assemblage occupies two contiguous R-3 lots totaling 13,776 square feet at 191 Dexter Street in Providence's West End/Armory area, near Westminster Street and Cranston Street. A two-car garage complements the off-street parking, with one dedicated space assigned to each apartment. The portfolio is offered at a 6.0% cap rate based on current income.
Key Highlights
- 14 apartments across four 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
Who owns this building?
See the owner, sales and loan history
Open 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
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, assigned parking, and a two-car garage.
Where is this apartment building located?
The property is located at 191 Dexter Street 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 apartments across four buildings; Unit mix includes seven one‑bedroom, six two‑bedroom, and one four‑bedroom apartments; 23 bedrooms and 15 bathrooms in total
