Three-Unit Residential
New
For Sale
$750,000
62 Oakland Avenue, Providence, RI 02908
Each residence includes multiple bedrooms and living areas.
Property Size3,840 SF
Price / SF$195.31
Days on Market4
Property Features for 62 Oakland Avenue
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1930
Listing Agency:
Strive Realty
Listed By:
Chanthrea Ou · License #52189
(401) 409-5368
Source:
Lavonnelopes
Added: Oct 7
Changed: Oct 9
Last Checked: Oct 9 at 4:53PM
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 Strive Realty
Investment Insights
Based on property information with market context.
This three-unit residential property in Providence contains 3,840 square feet across its three residences. Built in 1930, the building has multiple bedrooms and living areas in each unit.
The property is located in Providence’s Elmhurst area, with shopping, restaurants, public transportation, and major highways nearby.
The property is located in Providence’s Elmhurst area, with shopping, restaurants, public transportation, and major highways nearby.
Key Highlights
- Three residential units
- 3,840 square feet
- Built in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,843
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,296,860
$1.3M
Cap Rate 7%
$926,329
$926.3K
Cap Rate 9%
$720,478
$720.5K
Market Conditions
NOI Build-Up for 3,840 SF
Gross rent
$99.1K $25.80/SF
− Vacancy
−$6.4K −$1.68/SF
EGI
$92.6K $24.12/SF
− OpEx
−$27.8K −$7.24/SF
NOI
$64.8K $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%
$1,296,860
Cap Rate 7%
$926,329
Cap Rate 9%
$720,478
Alternative Uses
Best Use
Multifamily LT 5
$926.3K
$810.5K – $1.08M
NOI $64,843 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$832.0K
$728.0K – $970.7K
NOI $58,243 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,928 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,793
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence includes multiple bedrooms and living areas.
Where is this triplex located?
The property is located at 62 Oakland Avenue Providence, RI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three residential units; 3,840 square feet; Built in 1930
