3-Unit Triplex with Extra
47 Pope Street, Providence, RI 02909
For Sale
New
$599,000
Separate utility meters, off-street parking, and an additional lot are included.
Property Size2,168 SF
Price / SF$276.29
Days on Market6
Property Features for 47 Pope Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Public Transit
Utilities to Site
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Building Details
Year Built
Listing Agency:
Northeastern Realty Pros
(774) 300-8677
Listed By:
Jose Galvez · License RI REB.0018806
(401) 418-3642
Source:
Lockandkeyre
Added: Nov 6
Changed: Nov 10
Last Checked: Nov 10 at 7:27AM
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 Northeastern Realty Pros
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1870, this Providence triplex contains three apartments. The property includes separate utility meters, off-street parking, and an additional lot.
The property offers access to Downtown Providence, major highways, public transit, and local dining.
The property offers access to Downtown Providence, major highways, public transit, and local dining.
Key Highlights
- Three apartments in a triplex
- An additional lot is included
- Separate utility meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,609
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$732,180
$732.2K
Cap Rate 7%
$522,986
$523.0K
Cap Rate 9%
$406,767
$406.8K
Market Conditions
NOI Build-Up for 2,168 SF
Gross rent
$55.9K $25.80/SF
− Vacancy
−$3.6K −$1.68/SF
EGI
$52.3K $24.12/SF
− OpEx
−$15.7K −$7.24/SF
NOI
$36.6K $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%
$732,180
Cap Rate 7%
$522,986
Cap Rate 9%
$406,767
Alternative Uses
Best Use
Multifamily LT 5
$523.0K
$457.6K – $610.2K
NOI $36,609 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$469.8K
$411.0K – $548.1K
NOI $32,883 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$725.3K
$634.7K – $846.2K
NOI $50,772 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,133
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
$283,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Providence, RI
Properties on Market for Triplexes in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Separate utility meters, off-street parking, and an additional lot are included.
Where is this triplex located?
The property is located at 47 Pope Street Providence, RI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three apartments in a triplex; An additional lot is included; Separate utility meters
