3-Unit Residential
New
For Sale
$799,900
141 Grove Street, Providence, RI 02909
Residential Income, Providence, RI
Property Size3,937 SF
Lot Size0.09 Acres
Price / SF$203.18
Days on Market1
Property Features for 141 Grove Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 7, Bathroom 3, Bedroom 4, Bedroom 8, Bedroom 1, Bedroom 2, Bathroom 2, Basement, Bedroom 5
Parking
4
Parking features
None
Interior features
Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Ceiling), Insulation (Walls)
Basement
Full, Unfinished
Appliances
Dishwasher, Dryer, Oven, Range, Refrigerator, Washer, Gas Water Heater
Subdivision
West Side
Lot features
Fenced, Paved Driveway, Sidewalks
Standard status
Active
Size
3,937 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4682
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Steam, Forced Air, Electric (Heating)
Amenities
laundry
storage shed
basement storage
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Tile - Ceramic, Laminate
Building materials
Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Residential Properties Ltd.
(401) 274-6740
Listed By:
Stephen Gaskin · License #RES.0048283
(508) 991-0151
Added: Oct 6
Last Checked: Oct 6 at 10:06AM
MLS# 1422373
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 residential property contains 3,937 square feet on a 0.09-acre lot and was built in 1920. The first- and second-floor apartments each have three bedrooms and one full bath; the third-floor unit has two bedrooms and one full bath. Each apartment has its own laundry. Updates include a renovated second-floor kitchen and refreshed kitchens, bathrooms, flooring, lighting, and paint elsewhere. Other work includes insulation, exterior and masonry improvements, and refreshed common areas. A basement area provides space for tenant storage, and a newer storage shed is also on the property.
At 141 Grove Street in Providence, the property is near Nick's on Broadway, Seven Stars, Julian's, and Sawyer's Market, with access to Downtown Providence and surrounding neighborhoods.
At 141 Grove Street in Providence, the property is near Nick's on Broadway, Seven Stars, Julian's, and Sawyer's Market, with access to Downtown Providence and surrounding neighborhoods.
Key Highlights
- Three apartments: two 3‑bedroom units and one 2‑bedroom unit
- 3,937 square feet on a 0.09‑acre lot
- Each apartment has its own laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,481
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,329,620
$1.3M
Cap Rate 7%
$949,729
$949.7K
Cap Rate 9%
$738,678
$738.7K
Market Conditions
NOI Build-Up for 3,937 SF
Gross rent
$101.6K $25.80/SF
− Vacancy
−$6.6K −$1.68/SF
EGI
$95.0K $24.12/SF
− OpEx
−$28.5K −$7.24/SF
NOI
$66.5K $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%
$1,329,620
Cap Rate 7%
$949,729
Cap Rate 9%
$738,678
Alternative Uses
Best Use
Multifamily LT 5
$949.7K
$831.0K – $1.11M
NOI $66,481 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$853.1K
$746.4K – $995.2K
NOI $59,714 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,200 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,039
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
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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 - Each apartment includes its own laundry, and the property is zoned R4.
Where is this triplex located?
The property is located at 141 Grove Street Providence, RI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Three apartments: two 3‑bedroom units and one 2‑bedroom unit; 3,937 square feet on a 0.09‑acre lot; Each apartment has its own laundry
