Three-Unit
For Sale
$675,000
228 Saratoga Street, Providence, RI 02905
All three apartments are rented, and each includes three bedrooms and one full bathroom.
Property Size3,735 SF
Price / SF$180.72
Days on Market10
Property Features for 228 Saratoga Street
General Information
Standard status
Active
Size
3,735 SF
Property subtype
MultiFamily
Occupancy
100%
Site & Location
Neighborhood
Lower South Providence
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Building Details
Year Built
1912
Buildings
1
Listing Agency:
Innovations Realty
(401) 414-7414
Listed By:
Huascar Uriona Arze · License #RES.0204666
(401) 365-0159
Source:
Lockandkeyre
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 2:52PM
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.
Built in 1912, this 3,735-square-foot triplex contains three apartments, each with three bedrooms and one full bathroom. All units are currently rented, and the property is tenant-occupied.
The building is in Providence near public transportation, shopping, and major highways. Showings are scheduled by appointment with advance notice.
The building is in Providence near public transportation, shopping, and major highways. Showings are scheduled by appointment with advance notice.
Key Highlights
- Three apartments, each with 3 bedrooms and 1 full bath
- 3,735 square feet
- Built in 1912
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,650
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,133,000
$1.1M
Cap Rate 7%
$809,286
$809.3K
Cap Rate 9%
$629,444
$629.4K
Market Conditions
NOI Build-Up for 3,735 SF
Gross rent
$109.8K $29.40/SF
− Vacancy
−$6.8K −$1.82/SF
EGI
$103.0K $27.58/SF
− OpEx
−$46.4K −$12.41/SF
NOI
$56.7K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,133,000
Cap Rate 7%
$809,286
Cap Rate 9%
$629,444
Alternative Uses
Best Use
Multifamily LT 5
$901.0K
$788.4K – $1.05M
NOI $63,070 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$809.3K
$708.1K – $944.2K
NOI $56,650 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,469 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - All three apartments are rented, and each includes three bedrooms and one full bathroom.
Where is this triplex located?
The property is located at 228 Saratoga Street Providence, 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 and 1 full bath; 3,735 square feet; Built in 1912
