Renovated Side-by-Side
For Sale
$670,000
520 Providence St, West Warwick, RI 02893
Townhouse-style multifamily property with separate utilities, in-unit laundry, and two updated residences.
Property Size2,478 SF
Price / SF$270.38
Days on Market54
Property Features for 520 Providence St
General Information
Standard status
Active
Size
2,478 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1.5BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Amenities
in-unit laundry
Building Details
Year Built
1900
Construction
terracotta block
Listing Agency:
RE/MAX New Horizons
Listed By:
Cristina Zapata
(401) 331-8855
Source:
Alpernandmesenbourg
Added: Aug 22
Changed: Oct 11
Last Checked: Oct 7 at 1:31PM
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 RE/MAX New Horizons
Investment Insights
Based on property information with market context.
Located at 520 Providence Street in West Warwick, this three-unit multifamily property has a side-by-side townhouse-style configuration and was built in 1900. The exterior combines terracotta block construction with stucco finishes. Two residences have been renovated: one includes two bedrooms, one and a half baths, and a finished basement room, while the other offers two bedrooms and one bath. The third residence also has two bedrooms and one bath and is occupied by a tenant.
Each unit has separate gas and electric utilities and in-unit laundry. The finished basement room in one residence can accommodate office, recreation, fitness, or guest-space use. Shopping, restaurants, schools, and major highways are located nearby.
Each unit has separate gas and electric utilities and in-unit laundry. The finished basement room in one residence can accommodate office, recreation, fitness, or guest-space use. Shopping, restaurants, schools, and major highways are located nearby.
Key Highlights
- Three‑unit side‑by‑side townhouse‑style layout
- Two renovated units, including a 2‑bedroom, 1.5‑bath residence
- Finished basement room in one unit for office, recreation, fitness, or guest use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,005
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,100
$720.1K
Cap Rate 7%
$514,357
$514.4K
Cap Rate 9%
$400,056
$400.1K
Market Conditions
NOI Build-Up for 2,478 SF
Gross rent
$55.0K $22.20/SF
− Vacancy
−$3.6K −$1.44/SF
EGI
$51.4K $20.76/SF
− OpEx
−$15.4K −$6.23/SF
NOI
$36.0K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,100
Cap Rate 7%
$514,357
Cap Rate 9%
$400,056
Alternative Uses
Best Use
Multifamily LT 5
$514.4K
$450.1K – $600.1K
NOI $36,005 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$472.5K
$413.5K – $551.3K
NOI $33,077 @ 7.0% cap · market cap 4.94%
Theoretical Best
Specialty Retail
$620.6K
$543.1K – $724.1K
NOI $43,444 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
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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?
Triplex - Townhouse-style multifamily property with separate utilities, in-unit laundry, and two updated residences.
Where is this triplex located?
The property is located at 520 Providence St West Warwick, RI.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Three‑unit side‑by‑side townhouse‑style layout; Two renovated units, including a 2‑bedroom, 1.5‑bath residence; Finished basement room in one unit for office, recreation, fitness, or guest use
