Triplex with Two-Car
For Sale
$699,900
340 River Avenue, Providence, RI 02908
Two three-bedroom residences and a one-bedroom third-floor unit provide a varied three-unit layout.
Property Size3,082 SF
Price / SF$227.09
Days on Market60
Property Features for 340 River Avenue
General Information
Standard status
Active
Size
3,082 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Elmhurst
Units
Unit Mix
2 x 3BR, 1 x 1BR townhouse
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,495
Amenities
fenced yard
paver patio
coin-operated washer and dryer
Building Details
Building Size
3,082 SF
Year Built
1920
Buildings
1
Listing Agency:
Cote Partners Realty
Listed By:
James Hall · License #RES.0045424
(401) 639-9953
Source:
Jameshallrealestate
Added: Aug 30
Changed: Oct 27
Last Checked: Oct 27 at 3:48AM
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 Cote Partners Realty
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Investment Insights
Based on property information with market context.
This 3,082-square-foot triplex, built in 1920, contains two three-bedroom units and a one-bedroom townhouse on the third floor. A shared basement includes coin-operated laundry, and the property has a two-car garage with driveway parking. The outdoor area features fencing and a paver patio.
The three residences combine larger three-bedroom layouts with a smaller upper-level unit. Shared laundry and on-site parking are additional property features.
The three residences combine larger three-bedroom layouts with a smaller upper-level unit. Shared laundry and on-site parking are additional property features.
Key Highlights
- Three units: two three‑bedroom residences and one third‑floor, one‑bedroom townhouse
- 3,082 square feet; built in 1920
- Two‑car garage and driveway parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,043
Cap Rate
7.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,040,860
$1.0M
Cap Rate 7%
$743,471
$743.5K
Cap Rate 9%
$578,256
$578.3K
Market Conditions
NOI Build-Up for 3,082 SF
Gross rent
$79.5K $25.80/SF
− Vacancy
−$5.2K −$1.68/SF
EGI
$74.3K $24.12/SF
− OpEx
−$22.3K −$7.24/SF
NOI
$52.0K $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%
$1,040,860
Cap Rate 7%
$743,471
Cap Rate 9%
$578,256
Alternative Uses
Best Use
Multifamily LT 5
$743.5K
$650.5K – $867.4K
NOI $52,043 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$667.8K
$584.3K – $779.1K
NOI $46,746 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$1.03M
$902.2K – $1.20M
NOI $72,177 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,483
Businesses Nearby
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Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
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 - Two three-bedroom residences and a one-bedroom third-floor unit provide a varied three-unit layout.
Where is this triplex located?
The property is located at 340 River Avenue Providence, RI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three units: two three‑bedroom residences and one third‑floor, one‑bedroom townhouse; 3,082 square feet; built in 1920; Two‑car garage and driveway parking
