Updated 4-Unit
52 Erastus Street, Providence, RI 02909
New
MULTI_FAMILY - Providence, RI
Property size:
2,986 SFLot size:
0.14 AcresPrice / SF:
$294/SF- Added:
- Jun 15, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 18 at 3:06 am
Property Features for 52 Erastus Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 4
- Rooms
- Bedroom 7, Bedroom 9, Bedroom 10, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 5, Basement, Bedroom 6, Bathroom 1, Bedroom 2, Bathroom 4, Bedroom 8
- Parking
- 8
- Parking features
- Garage
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 2,986 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7767
Utilities
- Heating system
- Natural Gas, Baseboard
Building Details
- Year built
- 1914
- Number of units
- 4
- Flooring type
- Hardwood, Vinyl, Tile - Ceramic, Laminate
- Building materials
- Vinyl Siding
Listing agent Thomas Paliotte (401) 421-5300
Listing office Westcott Properties 178 Broadway, Providence, RI (401) 421-5300
Listing date Jun 15, 2026
MLS# 1415061
Listing URL
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.
HighLights
- 4‑family (4‑unit) property built in 1914 with a multi‑bedroom, multiple‑bathroom layout
- Brand‑new kitchens and bathrooms reported, with updated windows for refreshed interior finishes
- In‑unit washer and dryer hookups available for tenant convenience
- Heating includes natural gas and baseboard; gas water heater included
- Flooring includes vinyl, ceramic tile, hardwood, and laminate
- Garage parking plus ample off‑street parking for all four units
Overview
52 Erastus Street is a four-unit multifamily property that has been thoughtfully updated throughout. The interior features brand-new kitchens and bathrooms, updated windows, and in-unit washer and dryer hookups for tenant convenience. The home is described as filled with natural light, and each unit benefits from a functional, practical layout. Off-street parking is also available for all four units, adding a valuable daily convenience for residents.
Located in Providence, Rhode Island at 52 Erastus Street (02909), the property is positioned for straightforward access to local daily needs. The offering is presented as a turnkey option, combining the updated interiors with the onsite parking benefit for a complete, owner-friendly residential income configuration.
This asset can appeal to both investors and owner-occupants looking for a renovated four-family with in-unit laundry hookups and off-street parking. With improvements already in place, the property is positioned for tenants seeking modern kitchen and bathroom finishes, while buyers can approach the purchase with fewer near-term updates to plan. The configuration as a 4-unit building also provides flexibility for rental use within a single ownership structure.
Located in Providence, Rhode Island at 52 Erastus Street (02909), the property is positioned for straightforward access to local daily needs. The offering is presented as a turnkey option, combining the updated interiors with the onsite parking benefit for a complete, owner-friendly residential income configuration.
This asset can appeal to both investors and owner-occupants looking for a renovated four-family with in-unit laundry hookups and off-street parking. With improvements already in place, the property is positioned for tenants seeking modern kitchen and bathroom finishes, while buyers can approach the purchase with fewer near-term updates to plan. The configuration as a 4-unit building also provides flexibility for rental use within a single ownership structure.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.0k | $25.80 |
| − Vacancy | −$5.0k | −$1.68 |
| EGI | $72.0k | $24.12 |
| − OpEx | −$21.6k | −$7.24 |
| NOI | $50.4k | $16.89 |
2,986 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$720.3K
$630.3K – $840.4K
NOI $50,422 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$647.0K
$566.1K – $754.8K
NOI $45,290 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$999.0K
$874.1K – $1.17M
NOI $69,929 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.451076
- Latitude
- 41.824777
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Updated four-family with brand-new kitchens and baths, in-unit washer/dryer hookups, and off-street parking for all units.
Where is this quadplex located?
The property is located at 52 Erastus Street Providence, RI.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: 4‑family (4‑unit) property built in 1914 with a multi‑bedroom, multiple‑bathroom layout; Brand‑new kitchens and bathrooms reported, with updated windows for refreshed interior finishes; In‑unit washer and dryer hookups available for tenant convenience
