Victorian Multifamily
For Sale
$1,690,000
5 Hillside Ave, Providence, RI 02906
Historic East Side residence with five units, updated systems, and a mix of month-to-month tenancies.
Property Size5,961 SF
Price / SF$283.51
Days on Market48
Property Features for 5 Hillside Ave
General Information
Standard status
Active
Size
5,961 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Hope
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
5
Amenities
mature trees and landscaping
Building Details
Year Built
1891
Buildings
1
Construction
Victorian
Listing Agency:
Mott & Chace Sotheby's Intl.
Listed By:
Robert Rutley · License #36960
(401) 601-0446
Source:
Alpernandmesenbourg
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 7 at 5:15PM
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 Mott & Chace Sotheby's Intl.
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Investment Insights
Based on property information with market context.
The George A Perry House is a 5,961-square-foot multifamily property built in 1891. The Victorian residence contains four recognized units plus a fifth owner’s unit, with architectural features including a turret, steep rooflines, tall windows, shingle siding, and period detailing. Improvements include new windows, a new roof, new heating systems, and additional updates throughout the property and individual units.
Located at 5 Hillside Avenue on Providence’s East Side, the property is near highways, Brown, RISD, and Miriam Hospital. Mature landscaping surrounds the entrance, while the home’s 86 Walk Score supports pedestrian access to local amenities. Most units are month to month, and the property is associated with a 5.5-6% CAP.
Located at 5 Hillside Avenue on Providence’s East Side, the property is near highways, Brown, RISD, and Miriam Hospital. Mature landscaping surrounds the entrance, while the home’s 86 Walk Score supports pedestrian access to local amenities. Most units are month to month, and the property is associated with a 5.5-6% CAP.
Key Highlights
- 5,961 SF multifamily property built in 1891
- Four recognized units plus a fifth owner’s unit
- New windows, roof, and heating systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,413
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,808,260
$1.8M
Cap Rate 7%
$1,291,614
$1.3M
Cap Rate 9%
$1,004,589
$1.0M
Market Conditions
NOI Build-Up for 5,961 SF
Gross rent
$175.3K $29.40/SF
− Vacancy
−$10.9K −$1.82/SF
EGI
$164.4K $27.58/SF
− OpEx
−$74.0K −$12.41/SF
NOI
$90.4K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,808,260
Cap Rate 7%
$1,291,614
Cap Rate 9%
$1,004,589
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,413 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.75M – $2.33M
NOI $139,600 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
5
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,706
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
Frequently Asked Questions
What type of property is this?
Multifamily property - Historic East Side residence with five units, updated systems, and a mix of month-to-month tenancies.
Where is this multifamily property located?
The property is located at 5 Hillside Ave Providence, RI.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 5,961 SF multifamily property built in 1891; Four recognized units plus a fifth owner’s unit; New windows, roof, and heating systems
