8-Unit Multifamily
For Sale
$675,000
Central Falls, RI 02863, Central Falls, RI 02863
Residential Income, Central Falls, RI
Property Size2,666 SF
Lot Size0.09 Acres
Price / SF$253.19
Days on Market54
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 8, Bathroom 3, Bedroom 6, Bedroom 4, Bedroom 7, Basement, Bedroom 1, Bedroom 5, Bedroom 2
Parking
5
Window features
Storm Window(s)
Interior features
Wall (Dry Wall), Wall (Plaster), Attic, Plumbing (Mixed), Insulation (Unknown)
Basement
Storage Space, Full, Unfinished
Appliances
Oven, Range, Gas Water Heater
Lot features
Paved Driveway, Sidewalks
Standard status
Active
Size
2,666 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5618
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Tile - Ceramic, Hardwood
Building materials
Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Re/Max One · RE/MAX International
(401) 943-6111
Listed By:
Marko Harrington
(401) 641-1663
Added: Aug 26
Changed: Oct 8
Last Checked: Oct 18 at 4:06AM
MLS# 1421540
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.
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Investment Insights
Based on property information with market context.
This multifamily portfolio comprises three properties totaling 8 units. The package includes a two-family property in Pawtucket and two three-family properties in Central Falls.
Key Highlights
- Three‑property multifamily package totaling 8 units
- Includes one two‑family property in Pawtucket
- Includes two three‑family properties in Central Falls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,230
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$704,600
$704.6K
Cap Rate 7%
$503,286
$503.3K
Cap Rate 9%
$391,444
$391.4K
Market Conditions
NOI Build-Up for 2,666 SF
Gross rent
$68.1K $25.56/SF
− Vacancy
−$4.1K −$1.53/SF
EGI
$64.1K $24.03/SF
− OpEx
−$28.8K −$10.81/SF
NOI
$35.2K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$704,600
Cap Rate 7%
$503,286
Cap Rate 9%
$391,444
Alternative Uses
Best Use
Apartment 5plus
$503.3K
$440.4K – $587.2K
NOI $35,230 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$634.1K
$554.9K – $739.8K
NOI $44,390 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,184
Businesses Nearby
Explore this area
Business Placement
Demographics for 02863, RI
22,596
Population
8,341
Households
2.7
Avg Household Size
32
Median Age
12%
College-Educated
60%
High-School Grad
1.2 sq mi
ZIP Area
18,830
Density / Sq Mi
$45,921
Median Household Income
$30,050
Median Earnings
$1,118
Median Rent
$300,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - The package combines three multifamily properties in Pawtucket and Central Falls.
Where is this multifamily property located?
The property is located at Central Falls, RI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three‑property multifamily package totaling 8 units; Includes one two‑family property in Pawtucket; Includes two three‑family properties in Central Falls
