339 Privilege Street, Woonsocket, RI 02895
Fully occupied six-unit brick building with in-unit and common laundry, radiant heat, and 11 parking spaces.
- Added:
- Jun 15, 2026
- Days on Market:
- 13
- Last Refresh:
- Jun 24 at 2:32 am
Property Features for 339 Privilege Street
General Information
- Standard status
- Active
- Size
- 6,178 SF
- Lot size
- 0.29 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1963
Listing office Engel & Volkers Oceanside (401) 244-8355
Listing date Jun 15, 2026
Source Xome
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HighLights
- Fully occupied six‑unit brick apartment building built in 1963 with three levels
- Six two‑bedroom, one‑bath residences with common laundry plus in‑unit laundry in three apartments
- Lower level units feature radiant heat; window air conditioning included
- Tenants pay their own electric via seven individual meters; public water and public sewer
- 11 parking spaces and security lighting; public transport access on asphalt
- 0.29‑acre lot with updated fire alarm system and R4 zoning
Overview
Located in North Woonsocket near the Massachusetts line, the property is within reach of Providence and Greater Boston. The site sits on a 0.29-acre lot and includes 11 parking spaces for residents and guests.
Designed for an investor looking for established occupancy, the building is currently leased across all six units. With a mix of smaller and larger two-bedroom layouts and multiple laundry options, the residence mix supports a practical operating plan for day-to-day management. The separated electric metering and the combination of common and in-unit laundry are concrete features that can support tenant convenience while maintaining clear utility billing for electricity.
Local Financial Insights For Apartment 5plus
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 | $157.9k | $25.56 |
| − Vacancy | −$9.5k | −$1.53 |
| EGI | $148.4k | $24.03 |
| − OpEx | −$66.8k | −$10.81 |
| NOI | $81.6k | $13.21 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Woonsocket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.505413
- Latitude
- 42.0141522
