Three-Unit Multifamily
For Sale
$699,900
189 Magill Street, Pawtucket, RI 02860
Multifamily property with three-bedroom units, off-street parking, and a substantial outdoor area.
Property Size3,168 SF
Lot Size6,500.00 Acres
Price / SF$220.93
Days on Market29
Property Features for 189 Magill Street
General Information
Standard status
Active
Size
3,168 SF
Lot size
6,500.00 Acres
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1930
Listing Agency:
INNOVATE Real Estate
Listed By:
Filomena Silva · License #RES.0033998
(401) 489-2323
Source:
Milburyre
Added: Sep 9
Changed: Oct 7
Last Checked: Oct 7 at 1:36PM
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 INNOVATE Real Estate
Investment Insights
Based on property information with market context.
Built in 1930, this 3,168-square-foot triplex contains three residential units, each with three bedrooms, an eat-in kitchen, living room, full bathroom, and separate electrical panel. The third unit occupies the third and fourth floors in a townhouse-style configuration and includes an approximately 600-square-foot playroom, skylights, a mini-split cooling system, and electric heat. The first-floor residence also has an extra room used for storage. Updates have been completed since 2012.
The property sits on a 6,500+ square-foot lot at 189 Magill Street in Pawtucket, RI. Off-street parking and a large yard provide additional site amenities, while shopping, restaurants, major highways, and the train station are located nearby.
The property sits on a 6,500+ square-foot lot at 189 Magill Street in Pawtucket, RI. Off-street parking and a large yard provide additional site amenities, while shopping, restaurants, major highways, and the train station are located nearby.
Key Highlights
- Three‑unit property with three bedrooms in each residence
- 3,168 square feet on a 6,500+ square‑foot lot
- Third unit spans the third and fourth floors with townhouse‑style layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,749
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,054,980
$1.1M
Cap Rate 7%
$753,557
$753.6K
Cap Rate 9%
$586,100
$586.1K
Market Conditions
NOI Build-Up for 3,168 SF
Gross rent
$80.6K $25.44/SF
− Vacancy
−$5.2K −$1.65/SF
EGI
$75.4K $23.79/SF
− OpEx
−$22.6K −$7.14/SF
NOI
$52.7K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,054,980
Cap Rate 7%
$753,557
Cap Rate 9%
$586,100
Alternative Uses
Best Use
Multifamily LT 5
$753.6K
$659.4K – $879.2K
NOI $52,749 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$598.1K
$523.3K – $697.7K
NOI $41,864 @ 7.0% cap · market cap 5.98%
Theoretical Best
—
—
same as Best Use
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
1,048
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
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 - Multifamily property with three-bedroom units, off-street parking, and a substantial outdoor area.
Where is this triplex located?
The property is located at 189 Magill Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three‑unit property with three bedrooms in each residence; 3,168 square feet on a 6,500+ square‑foot lot; Third unit spans the third and fourth floors with townhouse‑style layout
