Renovated Three-Unit Multifamily
New
For Sale
$1,175,000
25 Sessions Street, Providence, RI 02906
Residential Income, Providence, RI
Property Size3,969 SF
Lot Size0.11 Acres
Price / SF$296.04
Days on Market1
Property Features for 25 Sessions Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 7, Basement
Parking
5
Basement
Unfinished, Full
Subdivision
East Side
Standard status
Active
Size
3,969 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8065
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Hardwood
Building materials
Vinyl Siding
Listing Agency:
Westcott Properties
Listed By:
Melissa Riley · License #RES.0033799
(401) 421-5300
Added: Sep 8
Last Checked: Sep 8 at 6:06PM
MLS# 1422656
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.
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains 3,969 square feet of living space across apartments with two, three, and two bedrooms. The first-floor residence includes a mudroom or office area and a double living room with 9-foot ceilings. Upper-level apartments also feature double living rooms and practical layouts. Renovations include new kitchens with quartz counters and stainless steel appliances, refreshed bathrooms, updated flooring, new plaster, fresh paint, and modern lighting.
Building improvements include three boilers, three water heaters, a new 200-amp three-meter electrical service with surge protection, three new 100-amp panels, new plumbing and water lines, a copper water service, and a PVC main stack. The property occupies 0.11 acres at 25 Sessions Street in Providence’s East Side, near Brown Stadium, Brown University, Blackstone Boulevard, Thayer Street, and downtown Providence.
Building improvements include three boilers, three water heaters, a new 200-amp three-meter electrical service with surge protection, three new 100-amp panels, new plumbing and water lines, a copper water service, and a PVC main stack. The property occupies 0.11 acres at 25 Sessions Street in Providence’s East Side, near Brown Stadium, Brown University, Blackstone Boulevard, Thayer Street, and downtown Providence.
Key Highlights
- 3,969 square feet of multifamily living space
- Three apartments with two-, three-, and two‑bedroom layouts
- New kitchens with quartz countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,021
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,340,420
$1.3M
Cap Rate 7%
$957,443
$957.4K
Cap Rate 9%
$744,678
$744.7K
Market Conditions
NOI Build-Up for 3,969 SF
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.
Gross rent
$102.4K $25.80/SF
− Vacancy
−$6.7K −$1.68/SF
EGI
$95.7K $24.12/SF
− OpEx
−$28.7K −$7.24/SF
NOI
$67.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,340,420
Cap Rate 7%
$957,443
Cap Rate 9%
$744,678
Alternative Uses
Best Use
Multifamily LT 5
$957.4K
$837.8K – $1.12M
NOI $67,021 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$860.0K
$752.5K – $1.00M
NOI $60,200 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,949 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three updated apartments offer flexible layouts, modern finishes, and refreshed building systems in Providence’s East Side.
Where is this triplex located?
The property is located at 25 Sessions Street Providence, RI.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 3,969 square feet of multifamily living space; Three apartments with two-, three-, and two‑bedroom layouts; New kitchens with quartz countertops and stainless steel appliances
