Three-Unit Multifamily
For Sale
$749,900
Pending
355 Williams Street, Providence, RI 02906
Residential Income, Providence, RI
Property Size3,259 SF
Lot Size0.11 Acres
Days on Market63
Property Features for 355 Williams Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 9, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 6, Bedroom 7, Bedroom 8, Basement
Parking
8
Interior features
Wall (Dry Wall), Wall (Paneled), Wall (Plaster), Insulation (Unknown)
Basement
Unfinished, Full
Lot features
Paved Driveway, Sidewalks
Standard status
Pending
Size
3,259 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10416
Utilities
Heating system
Natural Gas, Baseboard
Cooling system
Window Unit(s)
Building Details
Year built
1930
Floors in Building
3
Number of units
3
Flooring type
Laminate, Hardwood
Building materials
Dry Wall, Paneled, Plaster, Brick, Wood
Listing Agency:
Real Broker, Llc
(855) 450-0442
Listed By:
Stephanie Ricardo · License #RES.0048445
(401) 477-6949
Added: Aug 12
Changed: Sep 28
Last Checked: Oct 13 at 5:06PM
MLS# 1419697
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,259-square-foot triplex contains three residential units, each configured with three bedrooms. The 1930 property is being sold as-is and includes a basement, hardwood and laminate flooring, and a mix of drywall, paneled, plaster, brick, and wood construction materials. Heating is provided by natural gas baseboard systems, with window unit cooling.
The property occupies a 0.1148-acre lot at 355 Williams Street in Providence, directly across from Fox Point Park. Parks, shopping, restaurants, universities, downtown Providence, and major highways are identified in the surrounding area. The three-family layout and existing unit configuration provide a defined multifamily framework for a restoration-oriented project.
The property occupies a 0.1148-acre lot at 355 Williams Street in Providence, directly across from Fox Point Park. Parks, shopping, restaurants, universities, downtown Providence, and major highways are identified in the surrounding area. The three-family layout and existing unit configuration provide a defined multifamily framework for a restoration-oriented project.
Key Highlights
- Three 3‑bedroom residential units in a single triplex property
- 3,259 square feet of building area
- 0.1148‑acre lot at 355 Williams Street
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
Yes
Highway access
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
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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 - Three residential units offer spacious three-bedroom layouts in an as-is property near Fox Point Park.
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 3‑bedroom residential units in a single triplex property; 3,259 square feet of building area; 0.1148‑acre lot at 355 Williams Street
