Three-Unit Residential Income
32 Judith Street, Providence, RI 02909
New
MULTI_FAMILY - Providence, RI
Type:Apartment
Property size:
3,049 SFLot size:
0.07 AcresPrice / SF:
$208/SF- Added:
- Jun 25, 2026
- Days on Market:
- 3
- Last Refresh:
- Jun 27 at 2:06 pm
Property Features for 32 Judith Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Bedrooms
- 7
- Bathrooms
- 4
- Rooms
- Bedroom 5, Bathroom 4, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 7, Bedroom 6, Bedroom 1, Bathroom 3, Bathroom 1, Bathroom 2, Basement
- Parking features
- Garage
- Interior features
- Plumbing (Mixed)
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 3,049 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3715
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1859
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Carpet, Vinyl
- Building materials
- Vinyl Siding
Listing agent Yasah Pitcher (401) 333-4900
Listing office Keller Williams Leading Edge 28 Thurber Boulevard, Lincoln, RI (401) 333-4900
Listing date Jun 25, 2026
MLS# 1416315
Listing URL
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.
HighLights
- Legal 3‑unit property in Providence’s Silver Lake; layout includes two vacant units and one rented unit with a possibility to create a fourth unit
- Two newly updated units; separate tenant‑paid utilities and updated energy‑efficient heating systems
- 100‑amp electrical panels; natural gas forced‑air heat with gas water heater
- Large basement with laundry hookups and expansion potential (high ceiling)
- Plumbing (mixed) and vinyl siding; carpet and vinyl flooring
- Water and sewer: public water and public sewer; parking is street parking only with a spacious backyard on a quiet dead‑end street
Overview
This legal three-unit residential property at 32 Judith Street includes two 2-bedroom/1-bedroom units and a 3-bedroom/2-bath unit. Per the listing, two of the units are newly updated and are vacant, while the 3-bedroom/2-bath unit has one room rented. Each unit has separate tenant-paid utilities, and the home features updated energy-efficient heating systems. Electrical service includes 100-amp electrical panels. A large basement with laundry hookups and a high ceiling offers additional functionality and potential for further expansion, including the possibility of creating a fourth unit.
The property is situated on a quiet dead-end street with street parking only. It also includes a spacious backyard, providing outdoor space to support resident use.
This configuration is well suited to investors and owner-occupants looking for flexibility within a single legal building. The combination of updated systems, separate utilities, and a basement set up for laundry supports straightforward day-to-day operations. With two units currently vacant and additional space in the basement for possible expansion, the property offers a practical path for buyers who want control over how they rent and potentially reconfigure the layout over time.
The property is situated on a quiet dead-end street with street parking only. It also includes a spacious backyard, providing outdoor space to support resident use.
This configuration is well suited to investors and owner-occupants looking for flexibility within a single legal building. The combination of updated systems, separate utilities, and a basement set up for laundry supports straightforward day-to-day operations. With two units currently vacant and additional space in the basement for possible expansion, the property offers a practical path for buyers who want control over how they rent and potentially reconfigure the layout over time.
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 Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.445977
- Latitude
- 41.813485
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Legal three-unit Providence property with updated heating, separate utilities, and a high-ceiling basement with laundry hookups.
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 in Providence’s Silver Lake; layout includes two vacant units and one rented unit with a possibility to create a fourth unit; Two newly updated units; separate tenant‑paid utilities and updated energy‑efficient heating systems; 100‑amp electrical panels; natural gas forced‑air heat with gas water heater
