Six-Unit Apartment
339 Privilege Street Woonsocket, RI 02895
339 Privilege Street, Woonsocket, RI, 02895
$950,000
For Sale
$950,000
Fully occupied six-unit brick building with in-unit and common laundry, radiant heat, and 11 parking spaces.
Property Size6,178 SF
Lot Size0.29 Acres
Price / SF$153.77
Days on Market45
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 Agency
Engel & Volkers Oceanside
(401) 244-8355
Listed by
The DiSpirito Team
(401) 244-8355
Source
Xome
Added: Jun 7 Updated: Jul 10 at 2:04 pm Checked: Jul 16 at 3:37 am
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 Engel & Volkers Oceanside
Investment Insights
Based on property information with market context.
This fully occupied six-unit apartment building was built in 1963 and offers six spacious two-bedroom, one-bath residences arranged across three levels. The property includes a common laundry room with washer and dryer, and in-unit laundry is available in three of the apartments. Lower-level units feature radiant heat. Tenants pay their own electric through seven individual meters, helping keep utility responsibility separated by unit. Public water and public sewer serve the building, and an updated fire alarm system is in place.
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.
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.
Key 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
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
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
NOI $102,867 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully occupied six-unit brick building with in-unit and common laundry, radiant heat, and 11 parking spaces.
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 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
