Rhode Island may be the smallest state in the US, but there are more than 120,000 commercial properties there, of which about 46,000 are multi family homes.
The perfect multi family home isn’t easy to come by, though. Many properties are held by LLCs for years, and when they do go on the market, they sell quickly at a premium price.
So if finding the right multi family home is the problem, what’s the solution?
How to Find Multi Family Homes for Sale in RI
When you start looking for multi family homes for sale in RI, you’ll find so many listing websites that identifying which one will meet your particular needs is tough. Often times a combination of a few platforms is your best option.
We can’t see into the future, but we can help you learn more about the different platforms available to help you discover the perfect asset.
Below, we’ll show you the benefits of searching off-market, then run through the best real estate and for sale by owner listings websites (with examples to follow).
Searching Off-Market: Benefits and Tips
While for-sale listings make for easy access, going off-market allows brokers and investors to avoid any communication middlemen and unnecessary acquisition costs.
Off-market properties will have less competition amongst buyers, saving you on the cost of acquisition, while enabling you to find any property in any location.
Most properties are not going to be actively listed, but that does not even touch the lot of owners that might be willing to field offers.
Reonomy Off-Market Search
The Reonomy platform is unique, because you can search the entire supply of assets in any U.S. market, whether those properties are listed or not.
With sales and debt history filters, you can quickly identify multi family assets that are likely to sell, then access the contact information of owners, all in one place.
Your search can start by adding a location—say, Providence, RI.
Then, you can add the types of multi family or other assets you’d like to see in your results.
To find assets likely to sell, you can search for those that have not been sold in a long period of time.
In just a few more clicks, you can find properties that meet your exact preferred scope, then dive in and access the contact information of the TrueOwner on the property—including the individuals masked by an LLC.
Brokers can easily find new clients by searching for owners who are ripe to sell. Investors can find properties unknown to other buyers and, as a result, pay less, while finding more targeted assets.
Commercial and Residential Real Estate Listings
To search for currently-listed multi family homes for sale in RI, there are a number of different commercial and residential listings websites that you can turn to.
Brevitas Multi Family Homes
Brevitas is a great source for multi family listings because, in addition to including information about on-market properties, they also feature “private” listings.
These are properties not currently on the market that may be a good prospect. Since not very many listing platforms offer this type of information, you can snap up the perfect property with no competition.
Catylist Multi Family Homes
Catylist is a powerful tool for finding multi family homes for sale in RI.
Specifically, you’ll be directed to their East Coast Commercial Property Network to search for multi family units and then identify subtypes within that category.
CityFeet Multi Family Homes
CityFeet works well in large urban centers like Providence. After identifying your geographic location, you can target the type of building, price, size, tenancy.
Then add specific keywords you’re looking for like laundry, parking or elevator.
CREXi Multi Family Homes
CREXi is a great all-around commercial real estate listing site featuring not just multi family homes for sale in Providence RI, but also many other cities throughout the state.
You can search based on very specific criteria like price, individual unit measurements, square footage, lease type and more.
CIMLS Multi Family Homes
If you want to use CIMLS to find a multi family home as either an investor a broker, you need to know your target location first.
CIMLS requires you to enter a location before narrowing down to more specific property characteristics. You can then add additional parameters to your search to find the property that meets your needs.
LoopNet Multi Family Homes
LoopNet has the widest coverage of on-market property in the US, boasting more than 500,000 listings, including a number of multi family homes for sale in Rhode Island.
They offer quite a bit of data in a user-friendly format, so you can make an informed decision on the specific type of property you’re looking for.
Rhode Island Real Estate Services
Rhode Island Real Estate Services is a location-specific site, dealing only with properties in Rhode Island.
Local websites are a great resource for finding multi family homes for sale, because they’re more familiar with the location and often include valuable information not included on nationwide listing websites.
Rhode Island Real Estate
For a local site, Rhode Island Real Estate serves up a surprising number of potential multi family homes in cities all across the state.
And their advanced search feature lets you niche down to find the exact features you want.
Showcase Multi Family Homes
Showcase lets you search for on-market commercial listings and then narrow down by sale price, space size and cap rate.
This listing platform features quite a few active, on-market listings for multi family homes for sale in Providence RI.
For Sale By Owner Listings
There are a number of listings platforms that specialize in properties only for sale by owner, as well.
Looking for duplex or triplex multi family homes for sale in Cranston RI? 4salebyowner.com has all the typical search and listings features, but also offers the very helpful option to set up email alerts and see property owner information.
You’ll receive an email every time a property meeting your search criteria is added, so you can be first in line when you find the perfect home.
Buildings by Owner
Buildings by Owner is a listing platform with properties in many different categories including the healthcare, industrial, office, retail, senior housing and, of course, multi family markets.
Use their filters to search by location, price, property size and keyword to find the perfect fourplex or apartment building.
Craigslist features a surprising collection of multi family homes for sale, although do be wary that some may be scams.
There aren’t as many fancy filters or sorting tools on Craigslist, but if you monitor the postings daily, you just might find a treasure where you least expect.
FSBO.com is a great resource for finding multi family homes for sale in Pawtucket RI from duplexes to quadruplexes.
FSBO has advanced property filters including square footage, room count, with investors and brokers having the option to search for properties by listing ID.
And the site’s interactive map lets you pinpoint exactly the location you’re targeting.
For Sale By Owner
For Sale By Owner is not only one of the largest, but also one of the oldest listing platforms.
Sign up for their free, 14-day trial to find multi family homes for sale in RI, and you can directly contact property owners so you’ll be one step ahead of the competition.
Another free listing platform featuring FSBO properties is Fizber. Say you’re looking for duplex, triplex or quadruplex multi family homes for sale in Providence RI.
On this easy-to-use site, you’ll find all the filter functions—square footage, number of rooms, location, price and more—to identify exactly what you’re looking for.
Much like Craigslist, you just might find buried treasure on Facebook. The Facebook Marketplace puts you directly in touch with sellers and lets you avoid hefty broker fees.
Also, consider joining a few Facebook Groups focusing on real estate investment. You never know who you’ll connect with or what opportunity will present itself!
Despite the name, LandSaleListings.com does include multi family homes for sale. The website is geared for investors and brokers but does also include listings for sale by owner.
To access some features on the platform, you need to sign up for their free membership.
Zillow has more than 36 million unique visitors per month and nearly 80 million properties in its database many of which are multi family homes for sale by owner.
Listings on the website tend to be very detailed, and the ability to search by map is very helpful.
Search Examples with Popular Platforms
Now that you’re familiar with the different listings platforms, let’s run through a few specific examples of what those searches look like.
We’ll use Cranston, Pawtucket and Warwick, RI as our search terms, and we’ll look for both multi family homes and duplexes.
Cranston, RI Multi Family Search with LoopNet
As mentioned before, LoopNet has the largest on-market property database with several hundred listings in Rhode Island alone.
Let’s play out a quick example. Say you’re seeking multi family homes for sale in Cranston, RI and choose to use LoopNet to find your property. Make sure you’re using the “For Sale” tab on the home page.
Then, simply use the drop-down menu on the left and select “Multifamily.” Then, type “Cranston, RI” in the search box and click “Search.”
Pawtucket, RI Duplex Search with Zillow
Zillow has more listings than any other real estate platform out there, so naturally it’s a great place for an example of finding a duplex multi family home for sale.
From Zillow’s homepage, type “Pawtucket, RI Duplex” in the search box and click the magnifying glass button. Zillow doesn’t have filters for duplexes or multi family homes, so getting specific in the search box is important.
In this case, only one property met those particular search criteria. This property was off-market, but Zillow still had a wealth of information available about this piece of real estate.
Warwick, RI Multi Family Search with CREXi
If you’re interested in using CREXi to find multi family homes in Warwick, RI, here’s how. From the CREXi homepage, use the drop-down menu on the left to select “Multifamily.”
Be sure you are in the “For Sale” tab. Type “Warwick, RI” in the search box and click “Search.”
In our search, there are 14 properties available based on those search criteria. The individual listings are available on the left. If you like, you can use the map on the right to get a better idea of where the property is located within the greater Warwick area.
There are plenty of multi family homes for sale in RI. Opportunity for investors and brokers alike is vast. With these tools and your real estate savvy, you’ll find the multi family property of your dreams in no time.