3-Unit Triplex with Natural Gas
For Sale
Under Contract
$499,900
34 Hudson Street, Providence, RI 02909
MULTI_FAMILY - Providence, RI
Property Size2,347 SF
Lot Size0.10 Acres
Price / SF$212
Days on Market94
Property Features for 34 Hudson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 6, Bedroom 7, Bedroom 8, Bathroom 1, Bathroom 2, Bathroom 3, Basement, Bedroom 4, Bedroom 5
Parking
4
Parking features
None
Basement
Unfinished, Full
Appliances
Gas Water Heater
Standard status
Active Under Contract
Size
2,347 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4294
Utilities
Heating system
Baseboard, Natural Gas
Building Details
Year built
1876
Number of units
3
Flooring type
Tile - Ceramic
Building materials
Wood
Listing Agency:
Exp Realty
(888) 315-3445
Listed By:
Jonathan Bolano
(401) 612-3755
Added: May 11
Changed: Aug 3
Last Checked: Aug 12 at 8:06AM
MLS# 1412235
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3-unit triplex features a functional layout with 3 full bathrooms and 8 bedrooms across the home. The property includes a basement, wood construction, and ceramic tile flooring. Heating is provided by baseboard systems with natural gas, and there is a gas water heater.
Set on a 0.1-acre lot, the building was constructed in 1876 and totals 2,347 square feet. The location is in the West End of Providence, with proximity to Dexter Field, which offers volleyball courts, basketball courts, trails, and open recreational space. Access is described as convenient to Federal Hill, Providence Place Mall, local restaurants and shopping, and major routes including Route 6, Route 10, and I-95.
The unit configuration is well suited to both owner-occupants and investors seeking a property with room to improve over time.
Set on a 0.1-acre lot, the building was constructed in 1876 and totals 2,347 square feet. The location is in the West End of Providence, with proximity to Dexter Field, which offers volleyball courts, basketball courts, trails, and open recreational space. Access is described as convenient to Federal Hill, Providence Place Mall, local restaurants and shopping, and major routes including Route 6, Route 10, and I-95.
The unit configuration is well suited to both owner-occupants and investors seeking a property with room to improve over time.
Key Highlights
- 3‑unit triplex with 8 bedrooms and 3 full bathrooms
- Baseboard natural gas heating plus gas water heater
- Wood construction with ceramic tile flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,632
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$792,640
$792.6K
Cap Rate 7%
$566,171
$566.2K
Cap Rate 9%
$440,356
$440.4K
Market Conditions
NOI Build-Up for 2,347 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$60.6K $25.80/SF
− Vacancy
−$3.9K −$1.68/SF
EGI
$56.6K $24.12/SF
− OpEx
−$17.0K −$7.24/SF
NOI
$39.6K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$792,640
Cap Rate 7%
$566,171
Cap Rate 9%
$440,356
Alternative Uses
Best Use
Multifamily LT 5
$566.2K
$495.4K – $660.5K
NOI $39,632 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$508.5K
$445.0K – $593.3K
NOI $35,598 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$785.2K
$687.1K – $916.1K
NOI $54,964 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,589
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Wood 3-unit triplex offering 8 bedrooms, 3 full baths, and baseboard natural gas heat.
Where is this triplex located?
The property is located at 34 Hudson Street Providence, RI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 3‑unit triplex with 8 bedrooms and 3 full bathrooms; Baseboard natural gas heating plus gas water heater; Wood construction with ceramic tile flooring
