Multifamily Property with Adjoining
For Sale
$690,000
98 Wadsworth St, Providence, RI 02907
Package includes an adjoining lot with access to transportation, hospitals, universities, shopping, dining, and parks.
Property Size2,424 SF
Price / SF$284.65
Days on Market62
Property Features for 98 Wadsworth St
General Information
Standard status
Active
Size
2,424 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Building Details
Year Built
1912
Listing Agency:
Century 21 Visionary Group
Listed By:
Emmanuel Correa · License #46071
(401) 996-5755
Source:
Alpernandmesenbourg
Added: Aug 14
Changed: Oct 9
Last Checked: Oct 7 at 1:09PM
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 Century 21 Visionary Group
Investment Insights
Based on property information with market context.
Located at 98 Wadsworth Street in Providence, this multifamily property contains 2,424 square feet and was built in 1912. The offering includes the adjoining lot, with both parcels conveyed together as one package.
The property provides access to Downtown Providence, I-95, Route 10, public transportation, hospitals, universities, shopping, dining, and parks. Federal Hill, the Jewelry District, and Providence Place are also nearby. Any change in use, unit expansion, or development involving the additional land remains subject to zoning requirements, municipal approvals, and applicable permits.
The property provides access to Downtown Providence, I-95, Route 10, public transportation, hospitals, universities, shopping, dining, and parks. Federal Hill, the Jewelry District, and Providence Place are also nearby. Any change in use, unit expansion, or development involving the additional land remains subject to zoning requirements, municipal approvals, and applicable permits.
Key Highlights
- 2,424‑square‑foot multifamily property
- Built in 1912
- Adjoining lot included in the sale package
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,766
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,320
$735.3K
Cap Rate 7%
$525,229
$525.2K
Cap Rate 9%
$408,511
$408.5K
Market Conditions
NOI Build-Up for 2,424 SF
Gross rent
$71.3K $29.40/SF
− Vacancy
−$4.4K −$1.82/SF
EGI
$66.8K $27.58/SF
− OpEx
−$30.1K −$12.41/SF
NOI
$36.8K $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%
$735,320
Cap Rate 7%
$525,229
Cap Rate 9%
$408,511
Alternative Uses
Best Use
Apartment 5plus
$525.2K
$459.6K – $612.8K
NOI $36,766 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$811.0K
$709.6K – $946.1K
NOI $56,767 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
Median Home Value
Check the figures for this property
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?
Multifamily property - Package includes an adjoining lot with access to transportation, hospitals, universities, shopping, dining, and parks.
Where is this multifamily property located?
The property is located at 98 Wadsworth St Providence, RI.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: 2,424‑square‑foot multifamily property; Built in 1912; Adjoining lot included in the sale package
