Three-Family Residential Income
355 Williams Street Providence, RI 02906
355 Williams Street, Providence, RI, 02906
$830,000
For Sale
$830,000
Three spacious 3-bedroom units in a single three-family building, sold as-is.
Property Size3,259 SF
Price / SF$254.68
Days on Market26
Property Features for 355 Williams Street
General Information
- Standard status
- Active
- Size
- 3,259 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1930
Listing agency
Real Broker, LLC
(855) 450-0442
Listed by
Stephanie Ricardo
Source
Lockandkeyre
Added: Jun 27 Updated: Jul 21 at 9:48AM Checked: Jul 22 at 5:05AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This three-family residential income property includes three spacious 3-bedroom units within one building and is offered for sale as-is. The layout provides separate, well-sized living spaces suited for multi-unit ownership.
The property is located in the East Side of Providence directly across from Fox Point Park. Public remarks note convenient proximity to parks, shopping, restaurants, universities, downtown Providence, and major highways.
The seller is marketing the opportunity as an investment, contractor, or restoration project, and the property is being sold in its current condition.
The property is located in the East Side of Providence directly across from Fox Point Park. Public remarks note convenient proximity to parks, shopping, restaurants, universities, downtown Providence, and major highways.
The seller is marketing the opportunity as an investment, contractor, or restoration project, and the property is being sold in its current condition.
Key Highlights
- Three‑family building built in 1930 featuring three spacious 3‑bedroom units
- Sold as‑is
- Property is directly across from Fox Point Park
Local Financial Insights For Multifamily LT 5
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 | $84.1k | $25.80 |
| − Vacancy | −$5.5k | −$1.68 |
| EGI | $78.6k | $24.12 |
| − OpEx | −$23.6k | −$7.24 |
| NOI | $55.0k | $16.89 |
3,259 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$786.2K
$687.9K – $917.2K
NOI $55,032 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$706.2K
$617.9K – $823.9K
NOI $49,431 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.09M
$954.0K – $1.27M
NOI $76,322 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three spacious 3-bedroom units in a single three-family building, sold as-is.
Where is this triplex located?
The property is located at 355 Williams Street Providence, RI.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Three‑family building built in 1930 featuring three spacious 3‑bedroom units; Sold as‑is; Property is directly across from Fox Point Park
