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393 Waterman Ave
East Providence, RI 02914 Outer East Bay

$875,000 USD

Apartments For Sale • 2,672 SF

Property Details

Property Type Apartments
Total Building Size 2,672 SF
Lot Size 0.1 AC
Building Class C
Year Built 1920
Cap Rate 6.00 %
Zoning C2

40 Transit Score

70 Walk Score

                
                    Highlights
                
                                Well-maintained 5 unit building
                            
                                Proven value-add strategy in renovated units 
                            
                                New roof, driveway, and majority of windows replaced.

Financial Summary (Actual)

Net Operating Income: $48,640 USD (2025)

Cap Rate:	6.00 %
Total Expenses:	$25,760 USD

Amenities

Air Conditioning
Kitchen
Refrigerator
Oven
Tub/Shower

Public Transportation

Commuter Rail	Drive	Walk	Distance
Providence (Providence/Stoughton Line - Massachusetts Bay Transportation Authority Commuter Rail (Purple Line))	6 min	-	3.3 mi
Pawtucket/Central Falls (Foxboro Event Service - MBTA, Providence/Stoughton Line - MBTA)	10 min	-	5.8 mi
Airport	Drive	Walk	Distance
Rhode Island Tf Green International	19 min	-	10.2 mi

Harry Verenis 617-697-4796 Grove Property Group

393 Waterman Ave East Providence, RI 02914 Outer East Bay