Renovated Three-Family
For Sale
$675,000
660 Douglas Avenue, Providence, RI 02908
Three residential units are complemented by on-site laundry, off-street parking, and a rear lot with no approvals in place.
Property Size3,447 SF
Price / SF$195.82
Days on Market11
Property Features for 660 Douglas Avenue
General Information
Standard status
Active
Size
3,447 SF
Property subtype
MultiFamily
Site & Location
Neighborhood
Elmhurst
Highway Access
Yes
Road Access
Yes
Land
Land Use
residential
Buildable Units
3
Amenities
off-street parking
on-site laundy area
Building Details
Year Built
1930
Buildings
1
Tenancy
Multi
Listing Agency:
Century 21 Limitless
(508) 567-3468
Listed By:
Kyle Seyboth · License #REB.0019335
(508) 726-3492
Source:
Lockandkeyre
Added: Oct 15
Changed: Oct 25
Last Checked: Oct 24 at 5:09PM
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.
This renovated triplex contains three apartments: two with three bedrooms and one bathroom each, plus a two-bedroom, one-bathroom unit. Updates include new mechanical, electrical, and plumbing systems, along with refreshed flooring, fixtures, and stainless steel appliances. A shared laundry area and off-street parking serve the property.
A lot sits behind the residence, with access from 65 Veazie. It may be suitable for construction, but no approvals are in place. The property is located in Providence, minutes from major highways, shopping, dining, and local amenities. The residence was built in 1930.
A lot sits behind the residence, with access from 65 Veazie. It may be suitable for construction, but no approvals are in place. The property is located in Providence, minutes from major highways, shopping, dining, and local amenities. The residence was built in 1930.
Key Highlights
- Three units: two 3‑bedroom, 1‑bath apartments and one 2‑bedroom, 1‑bath apartment
- Renovated with new mechanical, electrical, and plumbing systems
- Rear lot may be buildable, subject to approvals; none are currently in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,206
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,164,120
$1.2M
Cap Rate 7%
$831,514
$831.5K
Cap Rate 9%
$646,733
$646.7K
Market Conditions
NOI Build-Up for 3,447 SF
Gross rent
$88.9K $25.80/SF
− Vacancy
−$5.8K −$1.68/SF
EGI
$83.2K $24.12/SF
− OpEx
−$24.9K −$7.24/SF
NOI
$58.2K $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%
$1,164,120
Cap Rate 7%
$831,514
Cap Rate 9%
$646,733
Alternative Uses
Best Use
Multifamily LT 5
$831.5K
$727.6K – $970.1K
NOI $58,206 @ 7.0% cap · market cap 8.62%
Second Best
Apartment 5plus
$746.9K
$653.5K – $871.4K
NOI $52,282 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,725 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
742
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units are complemented by on-site laundry, off-street parking, and a rear lot with no approvals in place.
Where is this triplex located?
The property is located at 660 Douglas Avenue Providence, RI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three units: two 3‑bedroom, 1‑bath apartments and one 2‑bedroom, 1‑bath apartment; Renovated with new mechanical, electrical, and plumbing systems; Rear lot may be buildable, subject to approvals; none are currently in place
