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30856850
29819717

1582 Westminster Street, Providence, RI 02909 For Sale

LM
RI REB 0019529
MG Commercial
WR
RI Res.0049709, MA 9630461-RE-RES
MG Commercial
Listed by MG Commercial
$1,825,000
146 days on market
Updated 17 days ago

1582 Westminster Street

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,926
Units 9
Cap Rate 7.13%
NOI $130,110
Tenancy Single
Year Built 1900
Acreage 0.360
Investment Type Value Add

Multifamily | 6.98% CAP | 9 Units

Marketing description

This well-maintained 9-unit multifamily property at 1582 Westminster Street offers an efficient mix of three 2-bedroom and six 1-bedroom units in Providence's high-demand West Side. Rare for the area, it includes ample off-street parking with garage space, plus on-site laundry to support tenant satisfaction and occupancy. Professionally operated and consistently maintained, it's an easy-to-manage, stable, income-producing asset positioned to benefit from ongoing neighborhood growth.

1582 Westminster Street sits on a key commercial-residential corridor in Providence's West Side, an area seeing steady reinvestment and population growth. With strong transit access, walkable amenities, and quick connections to downtown and I-95, the property supports sustained tenant demand and stable occupancy. Nearby renovated multifamily buildings and local retail/services reinforce a resilient rental market, positioning the asset to benefit from continued neighborhood momentum.

Investment highlights

  • Stabilized 9-unit multifamily asset in a high-demand rental market
  • Desirable unit mix of 2-bedroom and 1-bedroom apartments
  • Ample off-street parking with garage space
  • Value add opportunity with unit upgrades and/or condominium conversion
  • Professionally managed and well maintained with minimal deferred maintenance
  • Strong West Side location with walkable amenities and excellent transit access
  • Easy-to-manage building, ideal for both new and experienced investors

Listing Contacts

LM
RI REB 0019529
MG Commercial
WR
RI Res.0049709, MA 9630461-RE-RES
MG Commercial
Listed by MG Commercial

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$130,109.78
$10,842.48/mo

Valuation Metrics

0
DSCR
7.13%
Cap Rate
7.13%
ROI

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Additional Information

Name
Leeds Mitchell
License
REB 0019529
Name
Whitney Rugg
License
Res.0049709
Brokerage
MG Commercial Real Estate
Brokerage Phone
4017513200
Title
Sales Associate
Brokerage Address
365 Eddy Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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