Two-Building 8-Unit Apartment
84 Transit Street Providence, RI 02906
For Sale
$1,595,000
MULTI_FAMILY - Providence, RI
Property Size6,188 SF
Lot Size0.09 Acres
Price / SF$257.76
Days on Market139
Property Features for 84 Transit Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R3
- Bedrooms
- 11
- Bathrooms
- 9
- Rooms
- Basement, Bedroom 1, Bedroom 8, Bathroom 8, Bedroom 10, Bathroom 3, Bedroom 11, Bathroom 6, Bedroom 3, Bedroom 7, Bedroom 6, Bathroom 7, Bedroom 2, Bedroom 4, Bathroom 9, Bathroom 4, Bathroom 5, Bathroom 1, Bedroom 5, Bedroom 9, Bathroom 2
- Parking
- 3
- Parking features
- None
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 6,188 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 34676
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Natural Gas
Building Details
- Year built
- 1900
- Number of units
- 2
- Flooring type
- Laminate, Hardwood, Tile - Ceramic
- Building materials
- Brick, Wood
Listing Agency:
Residential Properties Ltd.
(401) 274-6740
Listed By:
Stephen Gaskin · License #RES.0048283
(508) 991-0151
Added: Mar 11
Changed: Jul 25
Last Checked: Jul 27 at 7:06AM
MLS# 1406278
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 is a two-building, eight-unit apartment property in Providence. The buildings are described as well maintained and offer a solid foundation for additional improvements. Current occupancy is mostly month-to-month, supporting an income stream while allowing flexibility for future upgrades.
The property is located in the heart of Fox Point, just steps from historic Benefit Street. It also provides access to the waterfront and walking paths of India Point Park.
The offering presents an income-producing multifamily asset with an existing, mostly flexible tenancy profile and a property layout consisting of two separate buildings under one ownership.
The property is located in the heart of Fox Point, just steps from historic Benefit Street. It also provides access to the waterfront and walking paths of India Point Park.
The offering presents an income-producing multifamily asset with an existing, mostly flexible tenancy profile and a property layout consisting of two separate buildings under one ownership.
Key Highlights
- 8‑unit, two‑building property in Fox Point, steps from historic Benefit Street
- Mostly month‑to‑month tenants and a strong existing income stream
- Year built 1900; brick and wood construction
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 | $181.9k | $29.40 |
| − Vacancy | −$11.3k | −$1.82 |
| EGI | $170.6k | $27.58 |
| − OpEx | −$76.8k | −$12.41 |
| NOI | $93.9k | $15.17 |
6,188 SF · lease $29.40/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.34M
$1.17M – $1.56M
NOI $93,856 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $144,916 @ 7.0% cap · market cap 9.09%
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 - Two well-maintained apartment buildings totaling eight units, with mostly month-to-month tenancy.
Where is this apartment building located?
The property is located at 84 Transit Street Providence, RI.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 8‑unit, two‑building property in Fox Point, steps from historic Benefit Street; Mostly month‑to‑month tenants and a strong existing income stream; Year built 1900; brick and wood construction
