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33625494
33625493

94-96 Medway Street, Providence, RI 02906

LM
RI REB 0019529
MG Commercial
WR
RI Res.0049709, MA 9630461-RE-RES
MG Commercial
Listed by MG Commercial
$2,795,000
2 days on market
Updated 2 days ago

94-96 Medway Street

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,504
Units 12
Cap Rate 5.21%
NOI $145,691
Tenancy Multi
Lot Size (SqFt) 6,702
Investment Type Stabilized

94-96 Medway Street, Providence, RI 02906

Marketing description

94-96 Medway Street is a 12-unit multifamily property in Providence's highly desirable Wayland Square neighborhood on the East Side. The 9,504 SF building consists of twelve one-bedroom units and offers investors a stabilized income-producing asset with upside through unit upgrades, rent growth, and operational improvements.

With all units separately metered for utilities, walkable access to Wayland Square amenities, and proximity to Brown University, RISD, College Hill, downtown Providence, and major employment centers, the property benefits from strong tenant demand and efficient operations in a high-demand rental market.

Located in Wayland Square on Providence's East Side, 94-96 Medway Street offers investors a stabilized multifamily opportunity in one of the city's most desirable rental submarkets. The property benefits from walkable access to dining, retail, transit, and everyday amenities, while remaining close to major demand drivers including Brown University, RISD, College Hill, and East Side employment centers.

With strong tenant demand, limited competing supply, and a high-barrier location, 94-96 Medway Street represents a compelling opportunity to acquire an income-producing asset in a proven Providence neighborhood.

Investment highlights

  • Stabilized 12-unit multifamily asset in a high-demand rental market
  • Walking distance to Brown University, RISD and Wayland Square
  • Strong East Side location with walkable amenities and excellent transit access
  • Easy-to-manage building, ideal for both new and experienced investors
  • Potential garden level unit to increase unit count
  • Some units leased fully furnished
  • Potential NOI increase of $26K with minimal cost

Listing Contacts

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

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$145,690.61
$12,140.88/mo

Valuation Metrics

0
DSCR
5.21%
Cap Rate
5.21%
ROI

Map

Zoning

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R-P ResidentialMulti FamilyResidential Professional District
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View all 127 uses
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Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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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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