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    Six-Unit Brick Apartment Building Title is generated by Realmo AI

    339 Privilege Street, Woonsocket, RI 02895

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    For Sale
    $950,000

    Commercial Sale, Other - Woonsocket, RI

    Property size:
    6,178 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $153/SF
    Added:
    Jun 19, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 27 at 8:06 pm

    Property Features for 339 Privilege Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    11
    Standard status
    Active
    APN
    339PRIVILEGESTWOON
    Size
    6,178 SF
    Lot size
    0.29 Acres

    Utilities

    Heating system
    Baseboard
    Cooling system
    Multi Units, Window Unit(s)

    Building Details

    Year built
    1963
    Floors in Building
    2
    Architectural style
    Other

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    The DiSpirito Team

    Listing agent The DiSpirito Team

    Listing office Engel & Völkers East Greenwich 247 Main Street, East Greenwich, RI

    Listing date Jun 19, 2026

    MLS# 1415735 Listing URL

    Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully occupied 6‑unit brick apartment building built in 1963 with three levels in North Woonsocket, near the Massachusetts line
    • Unit mix: 3 two‑bed/1‑bath units ~954 SF each and 3 two‑bed/1‑bath units ~1,079 SF each
    • Laundry included: common laundry room with washer/dryer plus in‑unit laundry in three apartments
    • Tenants pay their own electric via seven individual meters; lower level units feature radiant heat
    • Public water and public sewer; updated fire alarm system
    • 0.29‑acre lot with 11 parking spaces

    Overview

    This fully occupied, six-unit brick apartment building was built in 1963 and is arranged across three levels. The property consists of six spacious two-bedroom, one-bath residences, with three units at approximately 954 square feet and three larger units at approximately 1,079 square feet. Laundry conveniences include a common laundry room with washer and dryer, as well as in-unit laundry in three apartments. Lower level units feature radiant heat. Utilities are set up so tenants pay their own electric through seven individual meters. The building also has public water and public sewer, an updated fire alarm system, and a total of 11 parking spaces on a 0.29-acre lot.

    The property is located in North Woonsocket near the Massachusetts line, with access to destinations including Landmark Medical Center, the Stadium Theatre, the Museum of Work and Culture, Chan's, riverfront dining, and shopping. It is also positioned within reach of major commuter routes, with Providence approximately 13 miles away and Boston approximately 40 miles away.

    For investors, the key advantage is operational simplicity with all six units occupied and established tenancy. The mix of unit sizes, tenant-paid electric, and on-site parking support an easy-to-manage rental platform, while the building’s existing systems and layout provide a straightforward foundation for long-term ownership.

    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
    6,178 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.17M
    $1.02M – $1.36M (±1% cap)
    NOI $81,639 @ 7.0% cap · market cap 8.59%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $1.47M
    $1.29M – $1.71M (±1% cap)
    NOI $102,867 @ 7.0% cap · market cap 10.83%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.505413
    Latitude
    42.014152

    FAQs

    What type of property is this?
    Apartment building - Fully occupied six-unit brick building with two-bedroom apartments, laundry amenities, and tenant-paid electric.
    Where is this apartment building located?
    The property is located at 339 Privilege Street Woonsocket, RI.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Fully occupied 6‑unit brick apartment building built in 1963 with three levels in North Woonsocket, near the Massachusetts line; Unit mix: 3 two‑bed/1‑bath units ~954 SF each and 3 two‑bed/1‑bath units ~1,079 SF each; Laundry included: common laundry room with washer/dryer plus in‑unit laundry in three apartments
    More about this property
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