Three-Unit Triplex with Large
For Sale
$669,900
35 Rand St, Central Falls, RI 02863
Three-family property with varied bedroom layouts, updated heating systems, and on-site parking near rail service and everyday amenities.
Property Size4,170 SF
Price / SF$160.65
Days on Market70
Property Features for 35 Rand St
General Information
Standard status
Active
Size
4,170 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 7BR (2nd & 3rd floor townhouse), 1 x 3-4BR (1st floor), 1 x 2BR (basement)
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Listing Agency:
RE/MAX Professionals
Listed By:
Nelson Esteves · License #RES.0029681
(401) 884-6050
Source:
Alpernandmesenbourg
Added: Aug 5
Changed: Oct 13
Last Checked: Oct 7 at 4:27PM
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 RE/MAX Professionals
Investment Insights
Based on property information with market context.
This three-unit triplex contains approximately 4,170 square feet and dates to 1900. The upper-level townhouse-style residence includes seven bedrooms. The first-floor apartment features a large kitchen with dining space, a double parlor, and a three- to four-bedroom layout. A two-bedroom basement apartment has electric heat. Navien heating systems have been updated in the other units.
The property sits on a large lot with substantial parking and is located at 35 Rand St in Central Falls, Rhode Island. The setting is near a train station, shopping, and schools. Solar panels serving the first floor are subject to a lease with a remaining term of 9 years, which the buyer is to assume. A zoning certificate is available for the basement unit.
The property sits on a large lot with substantial parking and is located at 35 Rand St in Central Falls, Rhode Island. The setting is near a train station, shopping, and schools. Solar panels serving the first floor are subject to a lease with a remaining term of 9 years, which the buyer is to assume. A zoning certificate is available for the basement unit.
Key Highlights
- Three‑unit triplex with approximately 4,170 SF
- Upper townhouse‑style unit includes seven bedrooms
- First‑floor unit has a large kitchen, dining area, and double parlor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,105
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,102,100
$1.1M
Cap Rate 7%
$787,214
$787.2K
Cap Rate 9%
$612,278
$612.3K
Market Conditions
NOI Build-Up for 4,170 SF
Gross rent
$106.6K $25.56/SF
− Vacancy
−$6.4K −$1.53/SF
EGI
$100.2K $24.03/SF
− OpEx
−$45.1K −$10.81/SF
NOI
$55.1K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,102,100
Cap Rate 7%
$787,214
Cap Rate 9%
$612,278
Alternative Uses
Best Use
Multifamily LT 5
$991.9K
$867.9K – $1.16M
NOI $69,433 @ 7.0% cap · market cap 10.36%
Second Best
Apartment 5plus
$787.2K
$688.8K – $918.4K
NOI $55,105 @ 7.0% cap · market cap 8.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 02863, RI
22,596
Population
8,341
Households
2.7
Avg Household Size
32
Median Age
12%
College-Educated
60%
High-School Grad
1.2 sq mi
ZIP Area
18,830
Density / Sq Mi
$45,921
Median Household Income
$30,050
Median Earnings
$1,118
Median Rent
$300,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family property with varied bedroom layouts, updated heating systems, and on-site parking near rail service and everyday amenities.
Where is this triplex located?
The property is located at 35 Rand St Central Falls, RI.
What is the asking price?
The asking price for this property is $669,900.
What are key features of this property?
This property features: Three‑unit triplex with approximately 4,170 SF; Upper townhouse‑style unit includes seven bedrooms; First‑floor unit has a large kitchen, dining area, and double parlor
