Three-Unit Property Near Fox Point
For Sale
$749,900
Pending
355 Williams Street, Providence, RI 02906
As-is triplex with three three-bedroom residences in Providence’s East Side.
Property Size3,259 SF
Days on Market63
Property Features for 355 Williams Street
General Information
Standard status
Pending
Size
3,259 SF
Property subtype
MultiFamily
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Building Details
Year Built
1930
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Stephanie Ricardo · License #RES.0048445
(401) 477-6949
Source:
Lockandkeyre
Added: Aug 12
Changed: Oct 13
Last Checked: Oct 12 at 7:23PM
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.
Built in 1930, this triplex contains three three-bedroom units within a 3,259-square-foot property. The building is offered as-is and is positioned for restoration or other improvements, with layouts described as spacious in the available property information.
The property is located on Williams Street in Providence’s East Side, directly across from Fox Point Park. Parks, shopping, restaurants, universities, downtown Providence, and major highways are identified as nearby amenities and access points.
The property is located on Williams Street in Providence’s East Side, directly across from Fox Point Park. Parks, shopping, restaurants, universities, downtown Providence, and major highways are identified as nearby amenities and access points.
Key Highlights
- Three three‑bedroom units in a single triplex property
- 3,259 square feet of property size
- Built in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,032
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,100,640
$1.1M
Cap Rate 7%
$786,171
$786.2K
Cap Rate 9%
$611,467
$611.5K
Market Conditions
NOI Build-Up for 3,259 SF
Gross rent
$84.1K $25.80/SF
− Vacancy
−$5.5K −$1.68/SF
EGI
$78.6K $24.12/SF
− OpEx
−$23.6K −$7.24/SF
NOI
$55.0K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,100,640
Cap Rate 7%
$786,171
Cap Rate 9%
$611,467
Alternative Uses
Best Use
Multifamily LT 5
$786.2K
$687.9K – $917.2K
NOI $55,032 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$706.2K
$617.9K – $823.9K
NOI $49,431 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$1.09M
$954.0K – $1.27M
NOI $76,322 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,255
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - As-is triplex with three three-bedroom residences in Providence’s East Side.
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 $749,900.
What are key features of this property?
This property features: Three three‑bedroom units in a single triplex property; 3,259 square feet of property size; Built in 1930
