Value-Add Triplex with Updated
32 Judith Street Providence, RI 02909
32 Judith Street, Providence, RI, 02909
$635,000
For Sale
$635,000
Legal three-unit property with two newly updated units, separate tenant-paid utilities, and updated heating systems.
Property Size3,049 SF
Price / SF$208.27
Days on Market28
Property Features for 32 Judith Street
General Information
- Standard status
- Active
- Size
- 3,049 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1859
Listing agency
Keller Williams Leading Edge
(401) 333-4900
Listed by
Yasah Pitcher
Source
Lockandkeyre
Added: Jun 25 Updated: Jul 20 at 2:52AM Checked: Jul 22 at 5:10AM
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 Keller Williams Leading Edge
Investment Insights
Based on property information with market context.
This legal three-unit triplex offers a value-add setup with multiple configuration possibilities. The building includes two units described as two-bedroom and one-bedroom, both currently vacant, and a third unit described as three bedrooms with two bathrooms, with one room rented. Two of the units have been newly updated, and the property provides separate tenant-paid utilities.
Improvements also include updated energy-efficient heating systems and 100-amp electrical panels, along with a large basement featuring laundry hookups. The basement level is noted as having a high ceiling and expansion potential, and the property is described as offering the possibility of creating a fourth unit.
Set on a quiet dead-end street with street parking only and a spacious backyard, the property is located in the Silver Lake area of Providence.
Improvements also include updated energy-efficient heating systems and 100-amp electrical panels, along with a large basement featuring laundry hookups. The basement level is noted as having a high ceiling and expansion potential, and the property is described as offering the possibility of creating a fourth unit.
Set on a quiet dead-end street with street parking only and a spacious backyard, the property is located in the Silver Lake area of Providence.
Key Highlights
- Legal 3‑unit property with Year Built 1859, featuring two 2BR/1BR units (vacant) and a 3BR/2BA unit (one room rented)
- Two newly updated units and separate tenant‑paid utilities for each unit
- Updated energy‑efficient heating systems and 100‑amp electrical panels
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.7k | $25.80 |
| − Vacancy | −$5.1k | −$1.68 |
| EGI | $73.6k | $24.12 |
| − OpEx | −$22.1k | −$7.24 |
| NOI | $51.5k | $16.89 |
3,049 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$735.5K
$643.6K – $858.1K
NOI $51,486 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$660.7K
$578.1K – $770.8K
NOI $46,246 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$1.02M
$892.6K – $1.19M
NOI $71,404 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Legal three-unit property with two newly updated units, separate tenant-paid utilities, and updated heating systems.
Where is this triplex located?
The property is located at 32 Judith Street Providence, RI.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Legal 3‑unit property with Year Built 1859, featuring two 2BR/1BR units (vacant) and a 3BR/2BA unit (one room rented); Two newly updated units and separate tenant‑paid utilities for each unit; Updated energy‑efficient heating systems and 100‑amp electrical panels
