Turnkey Triplex with Three-Car
171 Lyon Avenue East Providence, RI 02914
New
171 Lyon Avenue, East Providence, RI, 02914
$550,000
For Sale
$550,000
MULTI_FAMILY - East Providence, RI
Property Size2,532 SF
Lot Size0.12 Acres
Price / SF$217.22
Days on Market2
Property Features for 171 Lyon Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R6
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Basement, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 5, Bathroom 1
- Parking
- 6
- Interior features
- Stairs, Plumbing (Mixed)
- Basement
- Full, Unfinished
- Appliances
- Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 2,532 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5348
Utilities
- Sewer type
- Public Sewer
- Heating system
- Steam, Natural Gas, Baseboard
Building Details
- Year built
- 1920
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Laminate
- Building materials
- Vinyl Siding
Listing agency
Here Realty
(401) 862-1251
Listed by
List with Lyon Team
(401) 649-2358
Added: Jul 21 Checked: Jul 22 at 11:06AM
MLS# 1418486
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.
Located at 171 Lyon Avenue in East Providence, this professionally managed triplex is described as turnkey, with updated cosmetics intended to minimize immediate capital expenses. The property includes separate utilities and natural gas service. Off-street parking is available, and a rare three-car garage adds a practical source of supplemental income potential through garage rentals or tenant storage.
Leasing flexibility is available for some of the units, as two are currently on month-to-month leases. The remaining unit’s status is not specified in the provided information.
Zoned R6, the property totals 2,532 square feet on a 0.12-acre lot. For buyers evaluating income-generating residential property options, this configuration combines unit occupancy flexibility with on-site garage space.
Leasing flexibility is available for some of the units, as two are currently on month-to-month leases. The remaining unit’s status is not specified in the provided information.
Zoned R6, the property totals 2,532 square feet on a 0.12-acre lot. For buyers evaluating income-generating residential property options, this configuration combines unit occupancy flexibility with on-site garage space.
Key Highlights
- Multi‑family property with natural gas heating (steam and baseboard) and public sewer service
- Built in 1920 with vinyl siding and laminate flooring
- Separate utilities reported, supporting tenant‑by‑tenant billing
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.4k | $25.44 |
| − Vacancy | −$4.2k | −$1.65 |
| EGI | $60.2k | $23.79 |
| − OpEx | −$18.1k | −$7.14 |
| NOI | $42.2k | $16.65 |
2,532 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$602.3K
$527.0K – $702.7K
NOI $42,159 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$478.0K
$418.2K – $557.7K
NOI $33,459 @ 7.0% cap · market cap 6.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Turnkey triplex with updated cosmetics, separate utilities, natural gas, and off-street parking plus a three-car garage.
Where is this triplex located?
The property is located at 171 Lyon Avenue East Providence, RI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Multi‑family property with natural gas heating (steam and baseboard) and public sewer service; Built in 1920 with vinyl siding and laminate flooring; Separate utilities reported, supporting tenant‑by‑tenant billing
