Updated 4-Unit Multifamily
52 Erastus Street Providence, RI 02909
52 Erastus Street, Providence, RI, 02909
$849,000
For Sale
$849,000
MULTI_FAMILY - Providence, RI
Property Size2,986 SF
Lot Size0.14 Acres
Price / SF$284.33
Days on Market32
Property Features for 52 Erastus Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 4
- Rooms
- Bedroom 6, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 9, Bedroom 10, Bedroom 1, Bedroom 8, Bathroom 1, Bedroom 5, Bedroom 4, Bathroom 2, Basement, Bedroom 7, Bedroom 2
- Parking
- 8
- Parking features
- None
- 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
- Baseboard, Electric (Heating), Natural Gas
Building Details
- Year built
- 1914
- Number of units
- 4
- Flooring type
- Hardwood, Laminate, Vinyl, Tile - Ceramic
- Building materials
- Vinyl Siding
Listing Agency
Westcott Properties
(401) 421-5300
178 Broadway, Providence, RI
Listed by
Thomas Paliotte
(401) 421-5300
Added: Jun 15 Checked: Jul 16 at 9:06 pm
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.
Investment Insights
Based on property information with market context.
This fully updated 4-unit multifamily property is presented as a turnkey investment opportunity. The building has been renovated throughout with updated windows and refreshed kitchens and bathrooms. Multiple units include in-unit washer and dryer hookups, and the property is described as fully fire-coded.
The property consists of four vacant units, providing the next owner the ability to select tenants. The listing also notes ample off-street parking for all four units.
Located in Providence on Erastus Street (02909), the property is described as being conveniently right off Atwells Avenue.
The property consists of four vacant units, providing the next owner the ability to select tenants. The listing also notes ample off-street parking for all four units.
Located in Providence on Erastus Street (02909), the property is described as being conveniently right off Atwells Avenue.
Key Highlights
- 4‑unit Providence multi‑family built in 1914
- Fully fire‑coded with renovated kitchens and bathrooms
- Updated windows and bright interior layouts
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 5.94%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully updated 4-unit investment with renovated kitchens and bathrooms, updated windows, and in-unit washer/dryer hookups.
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 $849,000.
What are key features of this property?
This property features: 4‑unit Providence multi‑family built in 1914; Fully fire‑coded with renovated kitchens and bathrooms; Updated windows and bright interior layouts
