West Broadway Multifamily Investment Opportunity

44 Sycamore, Providence, RI 02909

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For Sale

$1,299,900

Five-unit apartment building in West Broadway/Armory District.

Property size:

5,222 SF

Price / SF:

$248/SF

HighLights

Prime West Broadway/Armory District location near restaurants, shops, and park.
Strong rental income of over $10,000 per month.
Well‑maintained and renovated 5‑unit building with a solid rental history.
Historic charm with high ceilings, wide plank hardwood floors, abundant natural light, and ceiling medallions.
Off‑street parking for 6 cars, including 2 in a secure garage.
Fire code compliant with lead safe certificates for all units.

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Contact an agent

THE MODERN COLLECTIVE GROUP

For Sale

$1,299,900

Five-unit apartment building in West Broadway/Armory District.

Property size:

5,222 SF

Price / SF:

$248/SF

Added:: Mar 18, 2026
Days on Market:: 103
Last Refresh:: Mar 18 at 7:50 am

Property Features for 44 Sycamore

General Information

Standard status: Active
Size: 5,222 SF

Building Details

Year Built: 1900

We can help!

Contact an agent

THE MODERN COLLECTIVE GROUP

Listing office COMPASS

Listing date Mar 18, 2026

Source Corcoran

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 COMPASS

HighLights

Prime West Broadway/Armory District location near restaurants, shops, and park.
Strong rental income of over $10,000 per month.
Well‑maintained and renovated 5‑unit building with a solid rental history.
Historic charm with high ceilings, wide plank hardwood floors, abundant natural light, and ceiling medallions.
Off‑street parking for 6 cars, including 2 in a secure garage.
Fire code compliant with lead safe certificates for all units.

Overview

This is a five-unit apartment building featuring Mansard style architecture, situated in the West Broadway/Armory District, near restaurants, shops, and a park. The property has been well-maintained and renovated, comprising four one-bedroom units and one three-bedroom unit. The units retain historic charm, including high ceilings, wide plank hardwood floors, abundant natural light, slate roof, and ceiling medallions. The property is fully rented, generating over $10,000 in monthly rent, with a solid rental history. It is fire code compliant and lead safe certificates are in place for all units. Off-street parking is available for six cars, with two spaces located in a secure garage. The building is suitable for either an owner occupant or an investor. The property is located minutes from downtown and highways, and within walking distance of the West Side. The building size is 5222 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$153.5k	$29.40
− Vacancy	−$9.5k	−$1.82
EGI	$144.0k	$27.58
− OpEx	−$64.8k	−$12.41
NOI	$79.2k	$15.17

5,222 SF · lease $29.40/SF/yr · vacancy 6.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.13M

$990.1K – $1.32M (±1% cap)

NOI $79,204 @ 7.0% cap · market cap 6.09%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.75M

$1.53M – $2.04M (±1% cap)

NOI $122,293 @ 7.0% cap · market cap 9.41%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Fresh Paint RI Painting

Suggested Use

Location Insight

Map
Local Demand

City: Providence
County: Providence
State: Rhode Island
Longitude: -71.4347107
Latitude: 41.8147388

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For sale
Apartment buildings
RI
Providence
02909
44 Sycamore

What type of property is this?

Apartment building - Five-unit apartment building in West Broadway/Armory District.

Where is this apartment building located?

The property is located at 44 Sycamore Providence, RI.

What is the asking price?

The asking price for this property is $1,299,900.

What are key features of this property?

This property features: Prime West Broadway/Armory District location near restaurants, shops, and park.; Strong rental income of over $10,000 per month.; Well‑maintained and renovated 5‑unit building with a solid rental history.