Turnkey 5-Unit Multifamily
8 Marcello Street Providence, RI 02919
New
For Sale
$1,050,000
MULTI_FAMILY - Providence, RI
Property Size3,164 SF
Lot Size0.06 Acres
Price / SF$331.86
Days on Market4
Property Features for 8 Marcello Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- C-1
- Bedrooms
- 5
- Bathrooms
- 5
- Rooms
- Bedroom 4, Bathroom 4, Bathroom 5, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 3, Bathroom 2, Basement, Bathroom 3, Bathroom 1
- Parking
- 3
- Parking features
- None
- Window features
- Insulated Windows
- Interior features
- Wall (Dry Wall), Stairs, Plumbing (Mixed), Insulation (Unknown)
- Basement
- Unfinished, Full
- Appliances
- Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
- Standard status
- Active
- Size
- 3,164 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 11546
Utilities
- Heating system
- Central, Natural Gas
- Cooling system
- Other (Cooling), Window Unit(s), Central Air
Building Details
- Year built
- 1920
- Floors in Building
- 3
- Number of units
- 4
- Flooring type
- Tile - Ceramic, Hardwood
- Building materials
- Dry Wall, Vinyl Siding
Listing Agency:
Lila Delman Compass
(401) 789-6666
Listed By:
Giovanna Boscia
(401) 528-9088
Added: Jul 24
Changed: Jul 26
Last Checked: Jul 27 at 7:06AM
MLS# 1418635
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.
Investment Insights
Based on property information with market context.
This fully renovated 5-unit multifamily property consists of two detached buildings on a single lot. All five units have been updated, presenting a turnkey configuration with minimal deferred maintenance.
The property is located in Providence, RI, near Atwells Avenue and downtown, with convenient access to major highways, hospitals, and universities. Residents also have nearby access to dining, shopping, and public transportation.
With a compact lot size and a total building area of 3,164 square feet, the asset is set up for straightforward ownership and management as a five-unit rental property within C-1 zoning.
The property is located in Providence, RI, near Atwells Avenue and downtown, with convenient access to major highways, hospitals, and universities. Residents also have nearby access to dining, shopping, and public transportation.
With a compact lot size and a total building area of 3,164 square feet, the asset is set up for straightforward ownership and management as a five-unit rental property within C-1 zoning.
Key Highlights
- Fully renovated 5‑unit multifamily property on a single lot with two detached buildings
- All five units updated, with in‑unit appliances including dishwasher, washer, dryer, microwave, oven/range, and refrigerator
- Central natural gas heating and central air cooling plus window unit(s) and other cooling reported
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 | $93.0k | $29.40 |
| − Vacancy | −$5.8k | −$1.82 |
| EGI | $87.3k | $27.58 |
| − OpEx | −$39.3k | −$12.41 |
| NOI | $48.0k | $15.17 |
3,164 SF · lease $29.40/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$685.6K
$599.9K – $799.8K
NOI $47,990 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$926.2K – $1.23M
NOI $74,097 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Fully renovated 5-unit multifamily property with two detached buildings on a single lot in Providence.
Where is this apartment building located?
The property is located at 8 Marcello Street Providence, RI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Fully renovated 5‑unit multifamily property on a single lot with two detached buildings; All five units updated, with in‑unit appliances including dishwasher, washer, dryer, microwave, oven/range, and refrigerator; Central natural gas heating and central air cooling plus window unit(s) and other cooling reported
