5-Unit Multifamily
New
For Sale
$929,900
8 Marcello Street, Providence, RI 02919
Residential Income, Providence, RI
Property Size3,164 SF
Lot Size0.06 Acres
Price / SF$293.90
Days on Market6
Property Features for 8 Marcello Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-1
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 5, Bathroom 5, Bedroom 3, Bathroom 4, Bathroom 1, Bathroom 2, Basement, Bedroom 4
Parking
3
Parking features
None
Window features
Insulated Windows
Interior features
Wall (Dry Wall), Stairs, Insulation (Unknown)
Basement
Full, Unfinished
Appliances
Dishwasher, Dryer, Microwave, Oven, Range, Refrigerator, Washer
Subdivision
Federal Hill
Lot features
Paved Driveway, Sidewalks
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
Natural Gas, Central
Cooling system
Other (Cooling), Central Air, Window Unit(s)
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 · License #RES.0045843
(401) 528-9088
Added: Oct 6
Changed: Oct 9
Last Checked: Oct 11 at 8:06AM
MLS# 1425228
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 5-unit multifamily property comprises two detached buildings on a single 0.0554-acre lot. The combined building area is 3,164 square feet, and all five residences have been renovated. Interior finishes include hardwood and ceramic tile flooring; listed appliances include dishwashers, washers, dryers, ranges, ovens, microwaves, and refrigerators. The property was built in 1920 and is zoned C-1.
Located in Providence’s Federal Hill area, the property is near Atwells Avenue, downtown, major highways, hospitals, universities, dining, shopping, and public transportation. The five-unit configuration is distributed across two buildings.
Located in Providence’s Federal Hill area, the property is near Atwells Avenue, downtown, major highways, hospitals, universities, dining, shopping, and public transportation. The five-unit configuration is distributed across two buildings.
Key Highlights
- Five residences across two detached buildings
- 3,164 square feet of building area on a 0.0554‑acre lot
- All five residences have been renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,990
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$959,800
$959.8K
Cap Rate 7%
$685,571
$685.6K
Cap Rate 9%
$533,222
$533.2K
Market Conditions
NOI Build-Up for 3,164 SF
Gross rent
$93.0K $29.40/SF
− Vacancy
−$5.8K −$1.82/SF
EGI
$87.3K $27.58/SF
− OpEx
−$39.3K −$12.41/SF
NOI
$48.0K $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%
$959,800
Cap Rate 7%
$685,571
Cap Rate 9%
$533,222
Alternative Uses
Best Use
Apartment 5plus
$685.6K
$599.9K – $799.8K
NOI $47,990 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$926.2K – $1.23M
NOI $74,097 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,410
Businesses Nearby
Explore this area
Business Placement
Demographics for 02919, RI
29,473
Population
11,993
Households
2.5
Avg Household Size
45
Median Age
29%
College-Educated
91%
High-School Grad
23.5 sq mi
ZIP Area
1,254
Density / Sq Mi
$87,811
Median Household Income
$56,068
Median Earnings
$1,259
Median Rent
$326,100
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 - Two separate buildings contain updated residences on one lot, with access to Providence’s downtown and nearby services.
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 $929,900.
What are key features of this property?
This property features: Five residences across two detached buildings; 3,164 square feet of building area on a 0.0554‑acre lot; All five residences have been renovated
