Three-Unit
New
For Sale
$599,000
120 Valley Street, Providence, RI 02909
The residential property includes six bedrooms and three full bathrooms across its units.
Property Size2,388 SF
Price / SF$250.84
Days on Market3
Property Features for 120 Valley Street
General Information
Standard status
Active
Size
2,388 SF
Property subtype
MultiFamily
Site & Location
Neighborhood
Olneyville
Additional Details
Multifamily Units
3
Building Details
Year Built
1910
Listing Agency:
Innovations Realty
(401) 414-7414
Listed By:
The ALBA Group · License #37342
(401) 451-2422
Source:
Lockandkeyre
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 25 at 2:31AM
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 Innovations Realty
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Investment Insights
Based on property information with market context.
Built in 1910, this Providence triplex contains three residential units within 2,388 square feet. The property has a combined six bedrooms and three full bathrooms. It is located at 120 Valley Street in Providence, Rhode Island.
Key Highlights
- Three residential units
- Six bedrooms and three full bathrooms in total
- 2,388 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,324
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,480
$806.5K
Cap Rate 7%
$576,057
$576.1K
Cap Rate 9%
$448,044
$448.0K
Market Conditions
NOI Build-Up for 2,388 SF
Gross rent
$61.6K $25.80/SF
− Vacancy
−$4.0K −$1.68/SF
EGI
$57.6K $24.12/SF
− OpEx
−$17.3K −$7.24/SF
NOI
$40.3K $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%
$806,480
Cap Rate 7%
$576,057
Cap Rate 9%
$448,044
Alternative Uses
Best Use
Multifamily LT 5
$576.1K
$504.1K – $672.1K
NOI $40,324 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$517.4K
$452.8K – $603.7K
NOI $36,220 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$798.9K
$699.1K – $932.1K
NOI $55,924 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,619
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The residential property includes six bedrooms and three full bathrooms across its units.
Where is this triplex located?
The property is located at 120 Valley Street Providence, RI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three residential units; Six bedrooms and three full bathrooms in total; 2,388 square feet
