Furnished Multifamily
For Sale
$1,500,000
67 Ridge Street, Providence, RI 02909
Residential Income, Providence, RI
Property Size5,653 SF
Lot Size0.20 Acres
Price / SF$265.35
Days on Market47
Property Features for 67 Ridge Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 1, Bedroom 7, Bedroom 9, Bedroom 5, Bathroom 4, Basement, Bedroom 4, Bathroom 5, Bathroom 6, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 8, Bedroom 10, Bathroom 2, Bedroom 11, Bedroom 6
Parking
8
Parking features
None
Interior features
Wall (Dry Wall)
Basement
Storage Space, Full, Finished
Appliances
Oven, Range, Refrigerator, Gas Water Heater
Subdivision
Federal Hill, West Side
Lot features
Paved Driveway
Standard status
Active
Size
5,653 SF
Lot size
0.20 Acres
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
14948
Utilities
Heating system
Steam, Baseboard, Natural Gas
Amenities
on-site parking
vending
coin-op laundry
Building Details
Year built
1953
Floors in Building
3
Number of units
3
Flooring type
Laminate
Building materials
Dry Wall, Brick
Buildings
1
Listing Agency:
Westcott Properties
Listed By:
Joy Riley · License #3100765
(401) 421-5300
Added: Sep 16
Changed: Oct 27
Last Checked: Nov 1 at 4:06PM
MLS# 1422669
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.
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Investment Insights
Based on property information with market context.
This 5,653-square-foot multifamily property occupies 0.2 acres and was built in 1953. The three-floor building contains 11 bedrooms and six bathrooms, with kitchens and shared living areas serving the bedroom layouts. A finished lower level has five additional rooms, one bathroom, and coin-operated laundry; those rooms are not included in the bedroom count because of window egress sizing. The property is furnished and has a brick exterior. R-3 zoning is in place.
The operating model combines long-term tenancy with short-term rentals, including activity through Airbnb and Cloudbeds. The property is in Providence’s Federal Hill area, within walking distance of Atwells Avenue restaurants, shops, and entertainment. Downtown Providence and the train are accessible, and a dog park is nearby.
The operating model combines long-term tenancy with short-term rentals, including activity through Airbnb and Cloudbeds. The property is in Providence’s Federal Hill area, within walking distance of Atwells Avenue restaurants, shops, and entertainment. Downtown Providence and the train are accessible, and a dog park is nearby.
Key Highlights
- 11 bedrooms and 6 bathrooms across three floors
- 5,653 square feet on a 0.2‑acre parcel
- R‑3 zoning; built in 1953
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,742
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,714,840
$1.7M
Cap Rate 7%
$1,224,886
$1.2M
Cap Rate 9%
$952,689
$952.7K
Market Conditions
NOI Build-Up for 5,653 SF
Gross rent
$166.2K $29.40/SF
− Vacancy
−$10.3K −$1.82/SF
EGI
$155.9K $27.58/SF
− OpEx
−$70.2K −$12.41/SF
NOI
$85.7K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,714,840
Cap Rate 7%
$1,224,886
Cap Rate 9%
$952,689
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,742 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.21M
NOI $132,387 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,046
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - A rooming layout and shared kitchens support a mix of long-term and short-term rental operations.
Where is this multifamily property located?
The property is located at 67 Ridge Street Providence, RI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 11 bedrooms and 6 bathrooms across three floors; 5,653 square feet on a 0.2‑acre parcel; R‑3 zoning; built in 1953
