Four-Unit Multifamily with
New
For Sale
$649,900
374 Woonasquatucket Avenue, North Providence, RI 02911
A finished basement adds a bathroom to the first-floor residence.
Property Size3,237 SF
Price / SF$200.77
Days on Market2
Property Features for 374 Woonasquatucket Avenue
General Information
Standard status
Active
Size
3,237 SF
Property subtype
Multi-Family
Amenities
wood floors
solar electric system
front porch
finished basement
off-street parking
Building Details
Year Built
1930
Listing Agency:
Engel & Volkers Oceanside
Listed By:
W. George Buteau · License #19938
(401) 638-0010
Source:
Onshorerealtors
Added: Oct 16
Last Checked: Oct 16 at 5:33AM
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
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Investment Insights
Based on property information with market context.
Built in 1930, this four-unit property includes first- and second-floor apartments, a third-floor unit, and a studio over the garage. The first- and second-floor apartments each provide nearly 1,300 square feet. Wood flooring runs throughout, and the first-floor unit has access to a finished basement with an additional bathroom.
A front porch, off-street parking, and a solar electric system are also part of the property. The solar system is paid for and transfers with the sale.
A front porch, off-street parking, and a solar electric system are also part of the property. The solar system is paid for and transfers with the sale.
Key Highlights
- Four residential units, including a studio above the garage
- First- and second‑floor apartments each offer nearly 1,300 square feet
- Finished basement with an additional bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,898
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,077,960
$1.1M
Cap Rate 7%
$769,971
$770.0K
Cap Rate 9%
$598,867
$598.9K
Market Conditions
NOI Build-Up for 3,237 SF
Gross rent
$82.3K $25.44/SF
− Vacancy
−$5.4K −$1.65/SF
EGI
$77.0K $23.79/SF
− OpEx
−$23.1K −$7.14/SF
NOI
$53.9K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,077,960
Cap Rate 7%
$769,971
Cap Rate 9%
$598,867
Alternative Uses
Best Use
Multifamily LT 5
$770.0K
$673.7K – $898.3K
NOI $53,898 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$611.1K
$534.7K – $712.9K
NOI $42,775 @ 7.0% cap · market cap 6.58%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 02911, RI
16,384
Population
6,894
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
2.5 sq mi
ZIP Area
6,554
Density / Sq Mi
$85,803
Median Household Income
$53,209
Median Earnings
$1,480
Median Rent
$319,300
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
Frequently Asked Questions
What type of property is this?
Quadplex - A finished basement adds a bathroom to the first-floor residence.
Where is this quadplex located?
The property is located at 374 Woonasquatucket Avenue North Providence, RI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Four residential units, including a studio above the garage; First- and second‑floor apartments each offer nearly 1,300 square feet; Finished basement with an additional bathroom
