Brick Multifamily Apartment
777 Admiral Street Providence, RI 02908
777 Admiral Street, Providence, RI, 02908
Contact for pricing
For Sale
Contact for pricing
Renovated apartment buildings with multiple unit types and extensive system upgrades, supported by ample off-street parking.
Property Size15,272 SF
Lot Size0.42 Acres
Price / SF$245.55
Days on Market52
Property Features for 777 Admiral Street
General Information
- Standard status
- Active
- Size
- 15,272 SF
- Lot size
- 0.42 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1970
Listing agency
Horvath & Tremblay
(781) 776-4000
Listed by
John Pentore · License #MA 9528992
Source
Crexi
Added: Jun 2 Updated: Jul 10 at 1:49PM Checked: Jul 21 at 11:07AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
The Admiral Apartments offer multi-story brick construction across two tax parcels, comprising a total of 17 apartments. The unit mix includes eleven 2-bedroom, 1-bath units and six 1-bedroom, 1-bath units, with five of the 1-bedroom units located at 777 Admiral and one at 787 Admiral. The buildings have undergone comprehensive capital improvements since a recent acquisition, including modernized kitchens and bathrooms, in-unit laundry, and updated living spaces. Common areas have also been improved. Major system upgrades include new boilers, extensive plumbing and electrical improvements, and replacement of most windows, helping reduce near-term deferred maintenance.
The property is located on Admiral Street in Providence’s Smith Hill neighborhood. It includes 20+ off-street parking spaces and is positioned with convenient regional access, with Interstate 95, Route 6, and Route 146 located just minutes away.
For buyers seeking a residential income property with an established brick multifamily profile and a renovated, infrastructure-updated interior, the Admiral Apartments provide a practical unit distribution across 1- and 2-bedroom homes. Tenant-paid utilities include heat, hot water, and electric, while the landlord is responsible for water and sewer.
The property is located on Admiral Street in Providence’s Smith Hill neighborhood. It includes 20+ off-street parking spaces and is positioned with convenient regional access, with Interstate 95, Route 6, and Route 146 located just minutes away.
For buyers seeking a residential income property with an established brick multifamily profile and a renovated, infrastructure-updated interior, the Admiral Apartments provide a practical unit distribution across 1- and 2-bedroom homes. Tenant-paid utilities include heat, hot water, and electric, while the landlord is responsible for water and sewer.
Key Highlights
- 11 two‑bedroom/1‑bath units and 6 one‑bedroom/1‑bath units across two buildings at 777–787 Admiral St (Providence), built in 1970
- 10,130 SF gross living area in 15,272 SF gross area on a combined 0.42‑acre site with 20+ off‑street parking spaces
- Major capital improvements include all new boilers, extensive plumbing/electrical updates, and replacement of most windows
Local Financial Insights For Apartment 5plus
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 | $449.0k | $29.40 |
| − Vacancy | −$27.8k | −$1.82 |
| EGI | $421.2k | $27.58 |
| − OpEx | −$189.5k | −$12.41 |
| NOI | $231.6k | $15.17 |
15,272 SF · lease $29.40/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.31M
$2.90M – $3.86M
NOI $231,637 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.11M
$4.47M – $5.96M
NOI $357,652 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Renovated apartment buildings with multiple unit types and extensive system upgrades, supported by ample off-street parking.
Where is this apartment building located?
The property is located at 777 Admiral Street Providence, RI.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 11 two‑bedroom/1‑bath units and 6 one‑bedroom/1‑bath units across two buildings at 777–787 Admiral St (Providence), built in 1970; 10,130 SF gross living area in 15,272 SF gross area on a combined 0.42‑acre site with 20+ off‑street parking spaces; Major capital improvements include all new boilers, extensive plumbing/electrical updates, and replacement of most windows
