Five-Unit Multifamily
For Sale
Contact for pricing
33 Benefit Street, Pawtucket, RI 02861
Two residential buildings share one parcel and include off-street parking, with interiors requiring updates.
Property Size2,775 SF
Price / SF$225.23
Days on Market755
Property Features for 33 Benefit Street
General Information
Standard status
Active
Size
2,775 SF
Total Parking Spaces
6
Property subtype
Land
Property Condition
Severity
Repairs Needed
Evidence
some interior updating
Units
Unit Mix
3 x 2BR, 2 x 1BR
Multifamily Units
5
Building Details
Year Built
1920
Buildings
2
Units
5
Listing Agency:
Century 21 Topsail Realty
Listed By:
Kristin Mcgrath · License #RES.0043351
(401) 254-1900
Source:
Crexi
Added: Sep 20, 2024
Changed: Oct 1
Last Checked: Oct 12 at 5:46PM
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 Century 21 Topsail Realty
Investment Insights
Based on property information with market context.
This multifamily property combines two residential buildings on a single lot, comprising five units in total. The unit mix includes four two-bedroom apartments and two one-bedroom apartments, with one of the one-bedroom units located on the lower level. The buildings offer 2,775 square feet and include off-street parking.
Both structures received replacement roofs and vinyl siding in 2011. Built in 1920, the property remains suited to an owner seeking a multi-unit residential asset with interior updating identified as part of the work needed. The address is 33 Benefit Street in Pawtucket, Rhode Island.
Both structures received replacement roofs and vinyl siding in 2011. Built in 1920, the property remains suited to an owner seeking a multi-unit residential asset with interior updating identified as part of the work needed. The address is 33 Benefit Street in Pawtucket, Rhode Island.
Key Highlights
- Five units across two residential buildings on one lot
- 2,775 square feet with off‑street parking
- Unit mix includes four 2‑bedroom and two 1‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,205
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$924,100
$924.1K
Cap Rate 7%
$660,071
$660.1K
Cap Rate 9%
$513,389
$513.4K
Market Conditions
NOI Build-Up for 2,775 SF
Gross rent
$70.6K $25.44/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$66.0K $23.79/SF
− OpEx
−$19.8K −$7.14/SF
NOI
$46.2K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$924,100
Cap Rate 7%
$660,071
Cap Rate 9%
$513,389
Alternative Uses
Best Use
Multifamily LT 5
$660.1K
$577.6K – $770.1K
NOI $46,205 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$523.9K
$458.4K – $611.2K
NOI $36,670 @ 7.0% cap · market cap 5.87%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,314
Businesses Nearby
Explore this area
Business Placement
Demographics for 02861, RI
27,833
Population
11,928
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
3.6 sq mi
ZIP Area
7,731
Density / Sq Mi
$83,044
Median Household Income
$47,384
Median Earnings
$1,278
Median Rent
$285,200
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two residential buildings share one parcel and include off-street parking, with interiors requiring updates.
Where is this multifamily property located?
The property is located at 33 Benefit Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Five units across two residential buildings on one lot; 2,775 square feet with off‑street parking; Unit mix includes four 2‑bedroom and two 1‑bedroom apartments
