Victorian Apartment
For Sale
$1,690,000
5 Hillside Avenue, Providence, RI 02906
Residential Income, Providence, RI
Property Size5,961 SF
Lot Size0.11 Acres
Price / SF$283.51
Days on Market53
Property Features for 5 Hillside Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Basement, Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 1
Parking
4
Parking features
None
Interior features
Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Unknown)
Fireplace
1
Basement
Storage Space, Unfinished, Full
Appliances
Dishwasher, Dryer, Oven, Range, Refrigerator, Washer, Gas Water Heater
Subdivision
Summit / East Side
Lot features
Fenced
Standard status
Active
Size
5,961 SF
Lot size
0.11 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7528
Utilities
Heating system
Baseboard, Natural Gas, Steam
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1891
Floors in Building
3
Number of units
4
Flooring type
Hardwood, Tile - Ceramic, Laminate
Building materials
Dry Wall, Plaster, Clapboard, Shingles
Listing Agency:
Mott & Chace Sotheby's Intl. · Sotheby's International Realty
(401) 314-3000
Listed By:
Robert Rutley
(401) 601-0446
Added: Sep 7
Changed: Oct 27
Last Checked: Oct 29 at 9:06AM
MLS# 1422586
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.
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Investment Insights
Based on property information with market context.
Built in 1891, this 5,961-square-foot Victorian apartment property contains four recognized units and a fifth owner’s unit. The 0.11-acre parcel is zoned R3. Recent property improvements include replacement windows, a new roof, and updated heating systems. Interior features include hardwood, laminate, and ceramic tile flooring, along with a fireplace; window air conditioning is also present.
The property is in Providence, near Brown, RISD, and Miriam Hospital, with highway access and local amenities nearby. The listing reports an 86 Walk Score. Most units are on month-to-month arrangements, and the stated cap rate is 5.5–6%.
The property is in Providence, near Brown, RISD, and Miriam Hospital, with highway access and local amenities nearby. The listing reports an 86 Walk Score. Most units are on month-to-month arrangements, and the stated cap rate is 5.5–6%.
Key Highlights
- 5,961 square feet on a 0.11‑acre parcel
- 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
Yes
Highway 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit configuration with updated windows, roofing, and heating systems in an R3-zoned property.
Where is this apartment building located?
The property is located at 5 Hillside Avenue 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 square feet on a 0.11‑acre parcel; Four recognized units plus a fifth owner’s unit; New windows, roof, and heating systems
