3-Unit Triplex with New
For Sale
$695,000
21 Berkley Street, Providence, RI 02908
Three separate apartments include individual boilers and basement areas with laundry hookups.
Property Size2,273 SF
Price / SF$305.76
Days on Market14
Property Features for 21 Berkley Street
General Information
Standard status
Active
Size
2,273 SF
Property subtype
MultiFamily
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1927
Listing Agency:
REALPRO by The Water
(401) 600-4100
Listed By:
The Realpro Group · License #24586
(401) 900-5885
Source:
Lockandkeyre
Added: Sep 30
Changed: Oct 13
Last Checked: Oct 12 at 8:15PM
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 REALPRO by The Water
Investment Insights
Based on property information with market context.
This 1927 triplex contains 2,273 square feet and is configured as three apartments. The first- and second-floor units each have two bedrooms, a living room, and a full bathroom; the third apartment has one bedroom, a living room, and a full bathroom. Each unit is served by its own boiler. Basement space provides storage and laundry hookups, and the property also includes a shed and tenant parking. A new roof is another recent property improvement.
Key Highlights
- Legal three‑unit property with 2,273 square feet
- Two apartments have two bedrooms each; the third has one bedroom
- Separate boiler for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,382
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$767,640
$767.6K
Cap Rate 7%
$548,314
$548.3K
Cap Rate 9%
$426,467
$426.5K
Market Conditions
NOI Build-Up for 2,273 SF
Gross rent
$58.6K $25.80/SF
− Vacancy
−$3.8K −$1.68/SF
EGI
$54.8K $24.12/SF
− OpEx
−$16.4K −$7.24/SF
NOI
$38.4K $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%
$767,640
Cap Rate 7%
$548,314
Cap Rate 9%
$426,467
Alternative Uses
Best Use
Multifamily LT 5
$548.3K
$479.8K – $639.7K
NOI $38,382 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$492.5K
$431.0K – $574.6K
NOI $34,476 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$760.4K
$665.4K – $887.2K
NOI $53,231 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,859
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
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 - Three separate apartments include individual boilers and basement areas with laundry hookups.
Where is this triplex located?
The property is located at 21 Berkley Street Providence, RI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Legal three‑unit property with 2,273 square feet; Two apartments have two bedrooms each; the third has one bedroom; Separate boiler for each unit
