3-Unit Multifamily
21 Chestnut Street, Central Falls, RI 02863
For Sale
New
$675,000
Each residence has a three-bedroom layout, separate utilities, and gas heat.
Property Size3,667 SF
Price / SF$184.07
Days on Market4
Property Features for 21 Chestnut Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Building Details
Year Built
Buildings
Listing Agency:
Innovations Realty
(401) 414-7414
Listed By:
Renato De Lima · License RI RES.0041249
(401) 440-2490
Source:
Lockandkeyre
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:31PM
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 Innovations Realty
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Investment Insights
Based on property information with market context.
This three-unit residential property dates to 1900 and contains 3,667 square feet. Each apartment has three bedrooms, one full bathroom, and a double-parlor layout. Gas heating and separate utilities serve all three units; the first-floor apartment also has forced hot air and central air conditioning.
Exterior features include vinyl siding and vinyl windows. The property also has a two-car garage and off-street parking.
Exterior features include vinyl siding and vinyl windows. The property also has a two-car garage and off-street parking.
Key Highlights
- Three apartments, each with 3 bedrooms, 1 full bathroom, and a double‑parlor layout
- Separate utilities and gas heating in all three units
- First‑floor apartment includes forced hot air and central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,057
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,221,140
$1.2M
Cap Rate 7%
$872,243
$872.2K
Cap Rate 9%
$678,411
$678.4K
Market Conditions
NOI Build-Up for 3,667 SF
Gross rent
$93.3K $25.44/SF
− Vacancy
−$6.1K −$1.65/SF
EGI
$87.2K $23.79/SF
− OpEx
−$26.2K −$7.14/SF
NOI
$61.1K $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%
$1,221,140
Cap Rate 7%
$872,243
Cap Rate 9%
$678,411
Alternative Uses
Best Use
Multifamily LT 5
$872.2K
$763.2K – $1.02M
NOI $61,057 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$692.3K
$605.7K – $807.6K
NOI $48,458 @ 7.0% cap · market cap 7.18%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
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Business Placement
Demographics for 02863, RI
22,596
Population
8,341
Households
2.7
Avg Household Size
32
Median Age
12%
College-Educated
60%
High-School Grad
1.2 sq mi
ZIP Area
18,830
Density / Sq Mi
$45,921
Median Household Income
$30,050
Median Earnings
$1,118
Median Rent
$300,500
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Providence County, RI
Properties on Market for Triplexes in Providence County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence has a three-bedroom layout, separate utilities, and gas heat.
Where is this triplex located?
The property is located at 21 Chestnut Street Central Falls, RI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three apartments, each with 3 bedrooms, 1 full bathroom, and a double‑parlor layout; Separate utilities and gas heating in all three units; First‑floor apartment includes forced hot air and central air conditioning
