Five-Unit Apartment
For Sale
$760,000
62 Conant Street, Pawtucket, RI 02860
Fully occupied residential property with one-bedroom layouts, off-street parking, and direct access to commuter rail service.
Property Size5,188 SF
Lot Size0.23 Acres
Price / SF$146.49
Days on Market54
Property Features for 62 Conant Street
General Information
Standard status
Active
Size
5,188 SF
Total Parking Spaces
6
Lot size
0.23 Acres
Property subtype
Commercial
Occupancy
100%
Financials
Gross Income
$82,800
Average Monthly Rent
$1,380
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
5 x 1BR/1BA
Multifamily Units
5
Building Details
Year Built
1889
Buildings
1
Listing Agency:
Coldwell Banker Realty
(401) 351-2017
Listed By:
Alexander Parmenidez · License #REB.0202861
(401) 425-6957
Source:
Lockandkeyre
Added: Aug 19
Changed: Oct 10
Last Checked: Oct 11 at 8:49AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1889, this apartment building contains five one-bedroom, one-bathroom units totaling approximately 5,188 square feet. Each residence is roughly 700 square feet, and all five units are occupied. Interior features include hardwood and ceramic flooring, replacement windows, and an updated roof. A full basement extends beneath the building, which has vinyl siding over a concrete and stone foundation.
The property occupies a 9,875-square-foot lot at 62 Conant in Pawtucket, with six off-street parking spaces. It is located one block from the Pawtucket/Central Falls commuter rail station on the MBTA Providence/Stoughton Line. Interstate 95 is minutes away, while bus routes, a hospital, and public schools are nearby. Providence is approximately 15 minutes away, and Boston’s South Station is about an hour by direct train.
Building systems include one gas tankless heating system, one gas hot water tank, five circuit-breaker electric meters plus a house meter, and city water and sewer. Utilities are included in the unit rents, with the owner paying gas and electric.
The property occupies a 9,875-square-foot lot at 62 Conant in Pawtucket, with six off-street parking spaces. It is located one block from the Pawtucket/Central Falls commuter rail station on the MBTA Providence/Stoughton Line. Interstate 95 is minutes away, while bus routes, a hospital, and public schools are nearby. Providence is approximately 15 minutes away, and Boston’s South Station is about an hour by direct train.
Building systems include one gas tankless heating system, one gas hot water tank, five circuit-breaker electric meters plus a house meter, and city water and sewer. Utilities are included in the unit rents, with the owner paying gas and electric.
Key Highlights
- Five occupied one‑bedroom, one‑bathroom units, each roughly 700 square feet
- Approximately 5,188 square feet on a 9,875‑square‑foot lot
- Six off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,557
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,371,140
$1.4M
Cap Rate 7%
$979,386
$979.4K
Cap Rate 9%
$761,744
$761.7K
Market Conditions
NOI Build-Up for 5,188 SF
Gross rent
$132.6K $25.56/SF
− Vacancy
−$8.0K −$1.53/SF
EGI
$124.6K $24.03/SF
− OpEx
−$56.1K −$10.81/SF
NOI
$68.6K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,371,140
Cap Rate 7%
$979,386
Cap Rate 9%
$761,744
Alternative Uses
Best Use
Apartment 5plus
$979.4K
$857.0K – $1.14M
NOI $68,557 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,383 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,569
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
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?
Apartment building - Fully occupied residential property with one-bedroom layouts, off-street parking, and direct access to commuter rail service.
Where is this apartment building located?
The property is located at 62 Conant Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Five occupied one‑bedroom, one‑bathroom units, each roughly 700 square feet; Approximately 5,188 square feet on a 9,875‑square‑foot lot; Six off‑street parking spaces
