Three-Unit Two-Bedroom
For Sale
$600,000
360 Manton Avenue, Providence, RI 02909
Separate utility metering covers gas heat, hot water, and electricity for each residence.
Property Size2,901 SF
Price / SF$206.83
Days on Market25
Property Features for 360 Manton Avenue
General Information
Standard status
Active
Size
2,901 SF
Total Parking Spaces
6
Property subtype
MultiFamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Parking per Unit
2
Building Details
Year Built
1930
Listing Agency:
Century 21 Limitless
(508) 567-3468
Listed By:
Kyle Seyboth · License #REB.0019335
(508) 726-3492
Source:
Lockandkeyre
Added: Sep 22
Changed: Oct 15
Last Checked: Oct 16 at 9:13AM
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 Century 21 Limitless
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Investment Insights
Based on property information with market context.
Built in 1930, this triplex contains three residences, each with two bedrooms. The property is fire coded and has current lead certificates. Separate utilities serve gas baseboard heat, hot water, and electricity; the owner pays water and sewer, along with service to the basement and shared areas. Interior common areas feature refreshed LVP flooring, painted hallways and stairs, thread covers, and motion-sensor lighting. Exterior areas also have automatic motion-sensor lighting.
Six parking spaces are provided, with two assigned to each unit. The property is on Manton Avenue in Providence, near Manton Plaza and shopping along Hartford Avenue. Route 6, Route 44, and RIPTA service are among the stated nearby transportation options. Other nearby destinations include Olneyville Square, Federal Hill, Downtown Providence, hospitals, colleges, restaurants, and the Woonasquatucket River Greenway.
Six parking spaces are provided, with two assigned to each unit. The property is on Manton Avenue in Providence, near Manton Plaza and shopping along Hartford Avenue. Route 6, Route 44, and RIPTA service are among the stated nearby transportation options. Other nearby destinations include Olneyville Square, Federal Hill, Downtown Providence, hospitals, colleges, restaurants, and the Woonasquatucket River Greenway.
Key Highlights
- Three units, each with 2 bedrooms
- Separate utilities for gas baseboard heat, hot water, and electricity; owner pays water and sewer
- Six parking spaces, with two assigned to each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,987
Cap Rate
8.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$979,740
$979.7K
Cap Rate 7%
$699,814
$699.8K
Cap Rate 9%
$544,300
$544.3K
Market Conditions
NOI Build-Up for 2,901 SF
Gross rent
$74.8K $25.80/SF
− Vacancy
−$4.9K −$1.68/SF
EGI
$70.0K $24.12/SF
− OpEx
−$21.0K −$7.24/SF
NOI
$49.0K $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%
$979,740
Cap Rate 7%
$699,814
Cap Rate 9%
$544,300
Alternative Uses
Best Use
Multifamily LT 5
$699.8K
$612.3K – $816.5K
NOI $48,987 @ 7.0% cap · market cap 8.16%
Second Best
Apartment 5plus
$628.6K
$550.0K – $733.4K
NOI $44,001 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$970.5K
$849.2K – $1.13M
NOI $67,938 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
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
Frequently Asked Questions
What type of property is this?
Triplex - Separate utility metering covers gas heat, hot water, and electricity for each residence.
Where is this triplex located?
The property is located at 360 Manton Avenue Providence, RI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Three units, each with 2 bedrooms; Separate utilities for gas baseboard heat, hot water, and electricity; owner pays water and sewer; Six parking spaces, with two assigned to each unit
