Tenant-Occupied Triplex with
For Sale
$525,000
101 River Avenue, Providence, RI 02908
Three leased units benefit from off-street parking and recent insulation, window, and roof improvements.
Property Size2,683 SF
Price / SF$195.68
Days on Market73
Property Features for 101 River Avenue
General Information
Standard status
Active
Size
2,683 SF
Property subtype
MultiFamily
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Century 21 Limitless
(508) 567-3468
Listed By:
Kyle Seyboth · License #REB.0019335
(508) 726-3492
Source:
Lockandkeyre
Added: Aug 2
Changed: Oct 13
Last Checked: Oct 12 at 7:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Limitless
Investment Insights
Based on property information with market context.
Built in 1915, this triplex contains three residential units that are all tenant occupied. The property includes off-street parking and has received several building-envelope updates, including full insulation work in 2018, replacement windows installed in 2021, and roof improvements completed in separate phases: the front half in 2016 and the back half in 2023.
The property is located at 101 River Avenue in Providence, near Providence College and Rhode Island College. Route 6, Route 146, I-95, and I-295 provide regional access, while Downtown Providence, Providence Place Mall, Wanskuck Park, public transportation, healthcare, schools, restaurants, shopping, and grocery stores are also nearby.
The property is located at 101 River Avenue in Providence, near Providence College and Rhode Island College. Route 6, Route 146, I-95, and I-295 provide regional access, while Downtown Providence, Providence Place Mall, Wanskuck Park, public transportation, healthcare, schools, restaurants, shopping, and grocery stores are also nearby.
Key Highlights
- Three‑unit residential property with all units tenant occupied
- Off‑street parking included
- Full insulation completed in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,305
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$906,100
$906.1K
Cap Rate 7%
$647,214
$647.2K
Cap Rate 9%
$503,389
$503.4K
Market Conditions
NOI Build-Up for 2,683 SF
Gross rent
$69.2K $25.80/SF
− Vacancy
−$4.5K −$1.68/SF
EGI
$64.7K $24.12/SF
− OpEx
−$19.4K −$7.24/SF
NOI
$45.3K $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 Rate 5%
$906,100
Cap Rate 7%
$647,214
Cap Rate 9%
$503,389
Alternative Uses
Best Use
Multifamily LT 5
$647.2K
$566.3K – $755.1K
NOI $45,305 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$581.3K
$508.7K – $678.2K
NOI $40,694 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$897.6K
$785.4K – $1.05M
NOI $62,833 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three leased units benefit from off-street parking and recent insulation, window, and roof improvements.
Where is this triplex located?
The property is located at 101 River Avenue Providence, RI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three‑unit residential property with all units tenant occupied; Off‑street parking included; Full insulation completed in 2018
