3-Unit Multifamily
New
For Sale
$695,000
21 Berkley Street, Providence, RI 02908
Residential Income, Providence, RI
Property Size2,273 SF
Lot Size0.07 Acres
Price / SF$305.76
Days on Market6
Property Features for 21 Berkley Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Basement, Bedroom 2, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4
Parking features
None
Interior features
Plumbing (Mixed)
Basement
Full, Unfinished
Appliances
Gas Water Heater
Standard status
Active
Size
2,273 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3453
Utilities
Heating system
Baseboard, Natural Gas
Cooling system
Attic Fan
Water source
Public
Amenities
gated entrance
shed
basement
laundry hookups
parking
Building Details
Year built
1927
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Laminate, Vinyl
Building materials
Vinyl Siding
Listing Agency:
Realpro By The Water
(401) 600-4100
Listed By:
The Realpro Group · License #24586
(401) 900-5885
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 5 at 7:06PM
MLS# 1424665
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 2,273-square-foot multifamily property in Providence contains three units. The first and second apartments each have two bedrooms, a living room, and a full bathroom; the third includes one bedroom, a living room, and a full bathroom. Each unit has its own boiler. Basement space provides storage and laundry hookups, and the property has a new roof. The exterior is vinyl siding, and the interior flooring includes hardwood, laminate, and vinyl.
Built in 1927 on a 0.07-acre lot, the property is zoned R3. The listing identifies the building as a legal three-unit property. A gas water heater and natural gas baseboard heating are among the property’s documented features.
Built in 1927 on a 0.07-acre lot, the property is zoned R3. The listing identifies the building as a legal three-unit property. A gas water heater and natural gas baseboard heating are among the property’s documented features.
Key Highlights
- Three units: two two‑bedroom apartments and one one‑bedroom apartment
- 2,273 square feet on a 0.07‑acre lot
- Separate boiler serving each apartment
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.
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 - Two apartments have two bedrooms each, while the third is configured with one bedroom.
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: Three units: two two‑bedroom apartments and one one‑bedroom apartment; 2,273 square feet on a 0.07‑acre lot; Separate boiler serving each apartment
