Four-Unit Apartment
New
For Sale
$1,195,000
511 Angell Street, Providence, RI 02906
Residential Income, Providence, RI
Property Size3,500 SF
Lot Size0.05 Acres
Price / SF$341.43
Days on Market1
Property Features for 511 Angell Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 3, Basement, Bedroom 4, Bedroom 2, Bathroom 1
Parking
2
Parking features
None
Interior features
Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Unknown)
Fireplace
1
Basement
Full, Unfinished, Storage Space
Appliances
Dishwasher, Dryer, Disposal, Oven, Range, Refrigerator, Washer, Gas Water Heater
Subdivision
Wayland
Lot features
Paved Driveway, Sidewalks
Standard status
Active
Size
3,500 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13601
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Window Unit(s)
Building Details
Year built
2025
Floors in Building
3
Number of units
4
Flooring type
Tile - Ceramic, Hardwood
Building materials
Dry Wall, Plaster, Clapboard
Listing Agency:
William Raveis Inspire
(401) 751-8100
Listed By:
Gregory Hall
(401) 743-5161
Added: Oct 5
Last Checked: Oct 5 at 3:06PM
MLS# 1421784
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 four-unit apartment property contains approximately 3,500 square feet on a 0.05-acre lot. The unit mix includes a two-bedroom, one-bath apartment of approximately 1,100 square feet, a studio, and two one-bedroom, one-bath apartments. The larger apartment has four separate entry doors. Vinyl replacement windows and stainless-steel appliances are among the property’s features, and the building has hardwood and ceramic tile flooring.
Situated in Wayland Square on Providence’s East Side, the property is close to shops, cafes, restaurants and neighborhood services. The four apartments are currently occupied. The larger first-floor unit and three additional apartments provide distinct configurations within the building.
Situated in Wayland Square on Providence’s East Side, the property is close to shops, cafes, restaurants and neighborhood services. The four apartments are currently occupied. The larger first-floor unit and three additional apartments provide distinct configurations within the building.
Key Highlights
- Four apartments: one two‑bedroom, one studio and two one‑bedroom units
- Approximately 3,500 square feet on a 0.05‑acre lot
- Largest apartment is approximately 1,100 square feet and has four separate entry doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,101
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,182,020
$1.2M
Cap Rate 7%
$844,300
$844.3K
Cap Rate 9%
$656,678
$656.7K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$90.3K $25.80/SF
− Vacancy
−$5.9K −$1.68/SF
EGI
$84.4K $24.12/SF
− OpEx
−$25.3K −$7.24/SF
NOI
$59.1K $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%
$1,182,020
Cap Rate 7%
$844,300
Cap Rate 9%
$656,678
Alternative Uses
Best Use
Multifamily LT 5
$844.3K
$738.8K – $985.0K
NOI $59,101 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$758.4K
$663.6K – $884.8K
NOI $53,086 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,966 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,671
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?
Quadplex - All four apartments are leased, with a mix of studio, one-bedroom and two-bedroom layouts.
Where is this quadplex located?
The property is located at 511 Angell Street Providence, RI.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Four apartments: one two‑bedroom, one studio and two one‑bedroom units; Approximately 3,500 square feet on a 0.05‑acre lot; Largest apartment is approximately 1,100 square feet and has four separate entry doors
