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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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    Claim this Listing
    New
    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:
    7
    Last Refresh:
    Jun 25 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 six‑unit brick apartment building built in 1963 across three levels
    • Unit mix: six 2‑bedroom, 1‑bath units—three approx. 954 SF each and three approx. 1,079 SF each
    • Laundry: common laundry room with washer/dryer plus in‑unit laundry in three apartments
    • Utilities: tenants pay electric via seven individual meters; public water and public sewer
    • Lower level radiant heat; baseboard heating and window A/C units for cooling
    • On‑site amenities include updated fire alarm system, 11 parking spaces, and a 0.29‑acre lot

    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 sized at approximately 954 square feet and three additional units sized at approximately 1,079 square feet. Laundry amenities include a common laundry room with washer and dryer, along with in-unit laundry in three apartments. Lower level units feature radiant heat, and tenants pay for electric through seven individual meters.

    The building is sited on a 0.29-acre lot and includes public water and public sewer services. An updated fire alarm system is in place, and the property offers 11 parking spaces for tenant use. The location places the property near the Massachusetts line, with access to Providence and Greater Boston through major commuter routes.

    For investors and owner-operators seeking a multi-family asset with established occupancy, this property provides a straightforward six-door configuration. Its mix of in-unit and common laundry, radiant heat in lower units, and tenant-paid electric meters are practical elements for day-to-day management. The combination of public utilities, parking, and an updated fire alarm system supports a functional residential income approach within an established rental setting.

    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 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 across three levels; Unit mix: six 2‑bedroom, 1‑bath units—three approx. 954 SF each and three approx. 1,079 SF each; Laundry: common laundry room with washer/dryer plus in‑unit laundry in three apartments
    More about this property
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