Updated Triplex with Private
For Sale
$700,000
Pending
25 Longfellow Terrace, Providence, RI 02907
Three-level income property with hardwood floors, parking, and convenient access to several major highways.
Property Size3,573 SF
Lot Size0.14 Acres
Days on Market56
Property Features for 25 Longfellow Terrace
General Information
Standard status
Pending
Size
3,573 SF
Lot size
0.14 Acres
Property subtype
MultiFamily
Site & Location
Neighborhood
South Elmwood
Highway Access
Yes
Additional Details
Multifamily Units
3
Amenities
balcony
garden
Building Details
Year Built
1925
Listing Agency:
REMAX Revolution
(401) 921-5011
Listed By:
Porgech Sia · License #RES.0042831
(401) 935-8099
Source:
Lockandkeyre
Added: Aug 31
Changed: Oct 25
Last Checked: Oct 24 at 6:41PM
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 REMAX Revolution
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Investment Insights
Based on property information with market context.
This 3,573-square-foot triplex, built in 1925, includes three residential units with hardwood floors, private balconies on each level, spacious bedrooms, and generous closet space. The interiors have been refreshed and painted, while aluminum siding supports lower-maintenance exterior upkeep. A new electrical service line was installed in 2020, and two water heaters were added in 2026. Lead conformance certificates are to be provided for all three units.
The property sits on a paved 6,000-square-foot lot with abundant parking and a small green area suitable for garden use. Its location provides access to I95 in less than a minute, along with connections to Route 10, Route 146, I195, and I295. Restaurants and markets are located within a couple of blocks.
The property sits on a paved 6,000-square-foot lot with abundant parking and a small green area suitable for garden use. Its location provides access to I95 in less than a minute, along with connections to Route 10, Route 146, I195, and I295. Restaurants and markets are located within a couple of blocks.
Key Highlights
- 3,573 SF triplex built in 1925
- Three units with private balconies on each level
- Paved 6,000 sq. ft. lot with abundant parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,334
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,206,680
$1.2M
Cap Rate 7%
$861,914
$861.9K
Cap Rate 9%
$670,378
$670.4K
Market Conditions
NOI Build-Up for 3,573 SF
Gross rent
$92.2K $25.80/SF
− Vacancy
−$6.0K −$1.68/SF
EGI
$86.2K $24.12/SF
− OpEx
−$25.9K −$7.24/SF
NOI
$60.3K $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%
$1,206,680
Cap Rate 7%
$861,914
Cap Rate 9%
$670,378
Alternative Uses
Best Use
Multifamily LT 5
$861.9K
$754.2K – $1.01M
NOI $60,334 @ 7.0% cap · market cap 8.62%
Second Best
Apartment 5plus
$774.2K
$677.4K – $903.2K
NOI $54,193 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$1.20M
$1.05M – $1.39M
NOI $83,675 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Explore this area
Business Placement
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-level income property with hardwood floors, parking, and convenient access to several major highways.
Where is this triplex located?
The property is located at 25 Longfellow Terrace Providence, RI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 3,573 SF triplex built in 1925; Three units with private balconies on each level; Paved 6,000 sq. ft. lot with abundant parking
