Renovated Triplex with Central
For Sale
$775,000
40 Paradis Ave, Woonsocket, RI 02895
Three apartments include updated building systems, modern appliances, and parking.
Property Size5,295 SF
Price / SF$146.36
Days on Market8
Property Features for 40 Paradis Ave
General Information
Standard status
Active
Size
5,295 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,489
Listing Agency:
Innovations Realty
Listed By:
The ALBA Group · License #37342
(401) 414-7414
Source:
Exprealty
Added: Oct 18
Changed: Oct 21
Last Checked: Oct 24 at 7:43PM
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 Innovations Realty
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Investment Insights
Based on property information with market context.
This 5,295-square-foot triplex contains three apartments with refreshed interiors, including new flooring, renewed walls, stairs, doors, and windows. Recessed lighting and modern appliances are installed throughout. Updated electrical and plumbing systems serve the property, with a new central air conditioning system for each apartment and on-demand water heaters.
Parking is available on site. The property is located at 40 Paradis Ave in Woonsocket, Rhode Island.
Parking is available on site. The property is located at 40 Paradis Ave in Woonsocket, Rhode Island.
Key Highlights
- Three‑family property with 5,295 square feet
- Updated electrical and plumbing systems throughout
- New central air conditioning system in each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,971
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,399,420
$1.4M
Cap Rate 7%
$999,586
$999.6K
Cap Rate 9%
$777,456
$777.5K
Market Conditions
NOI Build-Up for 5,295 SF
Gross rent
$135.3K $25.56/SF
− Vacancy
−$8.1K −$1.53/SF
EGI
$127.2K $24.03/SF
− OpEx
−$57.2K −$10.81/SF
NOI
$70.0K $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%
$1,399,420
Cap Rate 7%
$999,586
Cap Rate 9%
$777,456
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,164 @ 7.0% cap · market cap 11.38%
Second Best
Apartment 5plus
$999.6K
$874.6K – $1.17M
NOI $69,971 @ 7.0% cap · market cap 9.03%
Theoretical Best
—
—
same as Best Use
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
1,147
Businesses Nearby
Explore this area
Business Placement
Demographics for 02895, RI
43,269
Population
19,443
Households
2.2
Avg Household Size
38
Median Age
19%
College-Educated
82%
High-School Grad
7.8 sq mi
ZIP Area
5,547
Density / Sq Mi
$58,579
Median Household Income
$40,929
Median Earnings
$1,116
Median Rent
$267,900
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 - Three apartments include updated building systems, modern appliances, and parking.
Where is this triplex located?
The property is located at 40 Paradis Ave Woonsocket, RI.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Three‑family property with 5,295 square feet; Updated electrical and plumbing systems throughout; New central air conditioning system in each apartment
