Renovated Four-Unit
74 John St, Providence, RI 02906
For Sale
$1,295,000
Lead-compliant multifamily property with updated systems, replacement windows, and a mix of one-bedroom apartments.
Property Size2,478 SF
Price / SF$522.60
Days on Market97
Property Features for 74 John St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
William Raveis Inspire
Listed By:
Spencer Kelleher · License RI RES.0048238
(508) 493-7093
Source:
Alpernandmesenbourg
Added: Aug 8
Changed: Oct 25
Last Checked: Oct 7 at 1:03PM
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 William Raveis Inspire
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Investment Insights
Based on property information with market context.
Built in 1821, the property is a four-unit multifamily building comprising one one-bedroom, one-and-a-half-bath apartment and three one-bedroom, one-bath apartments. Improvements include updated electrical service, a fire alarm system, replacement windows installed in 2022, and new interior finishes completed from 2022 through 2026. The building is fully lead compliant and sits on a nearly 6,000-square-foot lot with off-street parking for up to 12 cars.
The property is within walking distance of Brown University, RISD, Trader Joe’s, and a range of restaurants, cafes, and bars. All four apartments are leased through Summer 2027, providing an occupied multifamily asset with established tenancy.
The property is within walking distance of Brown University, RISD, Trader Joe’s, and a range of restaurants, cafes, and bars. All four apartments are leased through Summer 2027, providing an occupied multifamily asset with established tenancy.
Key Highlights
- Four‑unit building with one 1 bed/1.5 bath apartment and three 1 bed/1 bath apartments
- Nearly 6,000 SF lot with off‑street parking for up to 12 cars
- Replacement windows installed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,844
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$836,880
$836.9K
Cap Rate 7%
$597,771
$597.8K
Cap Rate 9%
$464,933
$464.9K
Market Conditions
NOI Build-Up for 2,478 SF
Gross rent
$63.9K $25.80/SF
− Vacancy
−$4.2K −$1.68/SF
EGI
$59.8K $24.12/SF
− OpEx
−$17.9K −$7.24/SF
NOI
$41.8K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$836,880
Cap Rate 7%
$597,771
Cap Rate 9%
$464,933
Alternative Uses
Best Use
Multifamily LT 5
$597.8K
$523.1K – $697.4K
NOI $41,844 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$536.9K
$469.8K – $626.4K
NOI $37,585 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$829.0K
$725.4K – $967.2K
NOI $58,032 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,788
Businesses Nearby
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Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Providence, RI
Properties on Market for Quadplexes in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Lead-compliant multifamily property with updated systems, replacement windows, and a mix of one-bedroom apartments.
Where is this quadplex located?
The property is located at 74 John St Providence, RI.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Four‑unit building with one 1 bed/1.5 bath apartment and three 1 bed/1 bath apartments; Nearly 6,000 SF lot with off‑street parking for up to 12 cars; Replacement windows installed in 2022
