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    Coventry, RI Scituate, RI West Warwick, RI Warwick, RI Johnston, RI Providence, RI East Greenwich, RI West Greenwich, RI
    Mixed 1- and 2-Bed Apartment Building
    Updated: Jul 22
    Mixed 1- and 2-Bed Apartment Building

    230 Phenix Avenue, Cranston, RI 02920

    $2,799,000
    15,278 sqft
    17‑unit multifamily building built in 1973
    Unit mix: four 2‑bedroom and thirteen 1‑bedroom units
    14 of 17 units currently occupied, producing $280,200 in stated gross income
    In‑place performance: 6.16% cap rate on in‑place rents; operating expenses held flat at $107,679
    Vacancy upside: leasing 3 vacant units increases gross income to $401,400 and cap rate to 10.49% on the same operating cost base
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    See hot listings in Cranston

    Scored against comparables nationwide. These are worth a look.

    Scored against comparables nationwide. These are worth a look.

    Cap Rate available after sign in
    Est. NOI available after sign in
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    Based on your search, we've compiled 5 Potential Opportunities for your consideration. Besides 1 Active listings in Cranston, RI, we suggest exploring several alternatives: 4 properties in Nearby Cities

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    8-Unit Apartment Building
    8-Unit Apartment Building

    122 Lowell Avenue, Providence, RI 02909

    $1,300,000
    0.44 AC lot

    Frame multifamily property with an even mix of one- and two-bedroom apartments.

    View details
    17-Unit Apartment Building
    17-Unit Apartment Building

    64 Mill Street, Johnston, RI 02919

    $5,000,000
    0.89 AC lot

    Historic mill-style housing property with resident amenities, utility-paid occupancy, and off-street parking.

    View details
    8-Unit Apartment Building
    8-Unit Apartment Building

    122 Lowell Avenue, Providence, RI 02909

    $1,300,000

    Four one-bedroom and four two-bedroom apartments provide a balanced residential unit mix with substantial on-site parking.

    View details
    Restored 17-Unit Apartment Building
    Restored 17-Unit Apartment Building

    64 Mill Street, Johnston, RI 02919

    $5,000,000

    Historic mill-style community with resident amenities, updated finishes, and off-street parking.

    View details

    Cranston, RI Apartment Buildings Market Trends and Statistics

    Explore 1 apartment buildings for sale in Cranston, RI on our real estate platform. These investment opportunities span a total of 15,278 square feet of properties for sale, with an estimated market value of $2,799,000.

    Sale prices for two-family homes in Cranston, RI average $2,799,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Demographics Overview

    Population 129K
    Population Growth (5Y) +1.0%
    Median Household Income $74,487
    College Educated 43.9%

    High-Yield Neighborhoods for Investment

    Identify Cranston submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    02920 $2.8M

    Taxes & Financing

    Tax Rate (average for all types) 2.76%
    Property Tax per SF $26.05 per SF
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Providence County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Providence County

    Office

    Residential Income

    Property Size Breakdown

    The majority of commercial real estate listings in Cranston fall within the 100,000+ square foot range.

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