3-Unit Multifamily
For Sale
$799,900
141 Grove Street, Providence, RI 02909
All three apartments include private laundry and a dedicated off-street parking space.
Property Size3,937 SF
Price / SF$203.18
Days on Market20
Property Features for 141 Grove Street
General Information
Standard status
Active
Size
3,937 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Zoning
R4
Site & Location
Neighborhood
Federal Hill
Units
Unit Mix
2 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$4,681
Amenities
in-unit laundry
storage shed
basement storage
Interior Steps
Tub Shower
Paved Driveway
Building Details
Building Size
3,937 SF
Year Built
1920
Buildings
1
Stories
3
Units
3
Listing Agency:
Residential Properties Ltd.
(401) 274-6740
Listed By:
Stephen Gaskin · License #RES.0048283
(508) 991-0151
Source:
Berettarealty
Added: Oct 6
Changed: Oct 22
Last Checked: Oct 22 at 2:36PM
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 Residential Properties Ltd.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,937-square-foot multifamily property, built in 1920, contains three apartments: two with three bedrooms and one with two bedrooms. Each unit has a full bathroom, private laundry, and an off-street parking space. The second-floor apartment has a renovated kitchen, while the first- and third-floor units have received updates to kitchens, bathrooms, flooring, lighting, and paint. The property also has lead certificates, insulation work, exterior and masonry improvements, refreshed common areas, landscaping, a newer storage shed, and basement storage space designated for tenants.
At 141 Grove Street, the property is near Broadway and neighborhood businesses including Nick's on Broadway, Seven Stars, Julian's, and Sawyer's Market. Downtown Providence and surrounding neighborhoods are accessible from the property. Zoning is R4.
At 141 Grove Street, the property is near Broadway and neighborhood businesses including Nick's on Broadway, Seven Stars, Julian's, and Sawyer's Market. Downtown Providence and surrounding neighborhoods are accessible from the property. Zoning is R4.
Key Highlights
- Three apartments: two with 3 bedrooms and one with 2 bedrooms
- 3,937 square feet; built in 1920
- One off‑street parking space and private laundry for each apartment
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - All three apartments include private laundry and a dedicated off-street parking space.
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 with 3 bedrooms and one with 2 bedrooms; 3,937 square feet; built in 1920; One off‑street parking space and private laundry for each apartment
