Updated Quadplex with
For Sale
$849,000
52 Erastus St, Providence, RI 02909
Fire-coded multifamily property with renovated kitchens, bathrooms, and off-street parking.
Property Size2,986 SF
Price / SF$284.33
Days on Market54
Property Features for 52 Erastus St
General Information
Standard status
Active
Size
2,986 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Multifamily Units
4
Amenities
in-unit washer and dryer hookups
off-street parking
Building Details
Year Built
1914
Buildings
1
Listing Agency:
Westcott Properties
Listed By:
Thomas Paliotte
(401) 421-5300
Source:
Alpernandmesenbourg
Added: Aug 21
Changed: Oct 11
Last Checked: Oct 7 at 1:06PM
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 Westcott Properties
Investment Insights
Based on property information with market context.
This 2,986-square-foot quadplex contains four vacant units and has undergone substantial improvements, including renovated kitchens and bathrooms, updated windows, and bright layouts with natural light. The property is fire-coded, and multiple units include in-unit washer and dryer hookups. Off-street parking is provided for all four units.
Located at 52 Erastus St in Providence, the property sits just off Atwells Avenue. Its vacant-unit configuration allows the next owner to establish a new tenancy plan across the four apartments. The combination of updated interiors, compliance improvements, parking, and established multifamily configuration supports continued residential use.
Located at 52 Erastus St in Providence, the property sits just off Atwells Avenue. Its vacant-unit configuration allows the next owner to establish a new tenancy plan across the four apartments. The combination of updated interiors, compliance improvements, parking, and established multifamily configuration supports continued residential use.
Key Highlights
- 2,986‑square‑foot quadplex with four vacant units
- Fire‑coded property with renovated kitchens and bathrooms
- Updated windows and bright layouts with natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,422
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,008,440
$1.0M
Cap Rate 7%
$720,314
$720.3K
Cap Rate 9%
$560,244
$560.2K
Market Conditions
NOI Build-Up for 2,986 SF
Gross rent
$77.0K $25.80/SF
− Vacancy
−$5.0K −$1.68/SF
EGI
$72.0K $24.12/SF
− OpEx
−$21.6K −$7.24/SF
NOI
$50.4K $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%
$1,008,440
Cap Rate 7%
$720,314
Cap Rate 9%
$560,244
Alternative Uses
Best Use
Multifamily LT 5
$720.3K
$630.3K – $840.4K
NOI $50,422 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$647.0K
$566.1K – $754.8K
NOI $45,290 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$999.0K
$874.1K – $1.17M
NOI $69,929 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
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 - Fire-coded multifamily property with renovated kitchens, bathrooms, and off-street parking.
Where is this quadplex located?
The property is located at 52 Erastus St Providence, RI.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 2,986‑square‑foot quadplex with four vacant units; Fire‑coded property with renovated kitchens and bathrooms; Updated windows and bright layouts with natural light
