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41 E Transit St 5 Unit Apartment Building $1,295,000 ($259,000/Unit) 6.86% Cap Rate Providence, RI 02906
Investment Highlights
- Renovated Units
- New electrical service
- New Roof
Executive Summary
Well-maintained and extensively updated 5-unit property in desirable Fox Point, offering a blend of strong rental income and future upside with extremely low vacancy. The property features low taxes for its size, parking for each unit and has 2 detached garages for ADU potential. Significant improvements have recently been completed, including a new roof, upgraded electrical service, central air in all units, exterior updates, a newly renovated shared laundry room and other in-unit upgrades. Located just off Ives and Wickenden and close to India Point Park, this property sits in the heart of the vibrant Fox Point neighborhood with some of Providence’s best restaurants and bars. A rare opportunity to acquire a turnkey asset in one of the city’s most sought-after rental markets.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,295,000 | Apartment Style | Low-Rise |
| Price Per Unit | $259,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 6.86% | Building Size | 3,630 SF |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1930/2026 |
| Property Subtype | Apartment | Parking Ratio | 1.65/1,000 SF |
| Zoning | R-2 - Multi-Family Building | ||
| Price | $1,295,000 |
| Price Per Unit | $259,000 |
| Sale Type | Investment |
| Cap Rate | 6.86% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,630 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1930/2026 |
| Parking Ratio | 1.65/1,000 SF |
| Zoning | R-2 - Multi-Family Building |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Hardwood Floors
- Refrigerator
- Basement
- Deck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $1,700 | 1,210 |
| 1+1 | 1 | $1,900 | 400 |
| 2+1 | 1 | $1,800 | 810 |
| 1+1 | 1 | $1,600 | 400 |
| 2+1 | 1 | $2,195 | 810 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | PROV-170438-000000-000000 | Total Assessment | $775,200 (2025) |
| Land Assessment | $324,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $451,200 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
PROV-170438-000000-000000
Land Assessment
$324,000 (2025)
Improvements Assessment
$451,200 (2025)
Total Assessment
$775,200 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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41 E Transit St
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