Tenant-Occupied
For Sale
$525,000
101 River Avenue, Providence, RI 02908
Residential Income, Providence, RI
Property Size2,683 SF
Lot Size0.09 Acres
Price / SF$195.68
Days on Market65
Property Features for 101 River Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 4, Bedroom 1, Basement, Bathroom 3, Bedroom 2, Bedroom 3
Parking
5
Parking features
None
Basement
Full, Partially Finished
Appliances
Gas Water Heater
Standard status
Active
Size
2,683 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2945
Utilities
Heating system
Baseboard, Natural Gas
Building Details
Year built
1915
Number of units
3
Flooring type
Tile - Ceramic, Hardwood
Building materials
Vinyl Siding
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Kyle Seyboth · License #REB.0019335
(508) 726-3492
Added: Aug 2
Changed: Sep 22
Last Checked: Oct 5 at 7:06PM
MLS# 1419261
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.
Built in 1915, this 2,683-square-foot triplex contains three residential units and a basement. The property has vinyl siding, ceramic tile and hardwood flooring, natural gas baseboard heat, and a gas water heater. Insulation was completed in 2018, windows were installed in 2021, and the roof work was completed in two phases: the front half in 2016 and the back half in 2023. All three units are tenant occupied.
The property is located in Providence’s Elmhurst neighborhood, near Providence College and Rhode Island College. Route 6, Route 146, Interstate 95, and Interstate 295 provide regional access. Nearby amenities include restaurants, grocery stores, cafes, healthcare, schools, public transportation, Wanskuck Park, and Providence Place Mall.
The property is located in Providence’s Elmhurst neighborhood, near Providence College and Rhode Island College. Route 6, Route 146, Interstate 95, and Interstate 295 provide regional access. Nearby amenities include restaurants, grocery stores, cafes, healthcare, schools, public transportation, Wanskuck Park, and Providence Place Mall.
Key Highlights
- Three‑family property with all three units tenant occupied
- 2,683 square feet across three residential units
- Built in 1915 with vinyl siding and a basement
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.
Property Analytics
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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
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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 residential units are occupied, with updated insulation, windows, and roofing supporting the existing configuration.
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‑family property with all three units tenant occupied; 2,683 square feet across three residential units; Built in 1915 with vinyl siding and a basement
