Well-Maintained Multifamily
For Sale
$599,000
73 Beacon Ave, Providence, RI 02903
Well-maintained Lockwood triplex with separate utilities, hardwoods, and a loft-style third unit.
Property Size2,316 SF
Price / SF$258.64
Days on Market99
Property Features for 73 Beacon Ave
General Information
Standard status
Active
Size
2,316 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Upper South Providence
Building Details
Year Built
1920
Listing Agency:
Peter M. Scotti & Assoc.,Inc.
Listed By:
Rachel Wills · License #37982
(401) 248-3111
Source:
Alpernandmesenbourg
Added: Jul 20
Changed: Oct 25
Last Checked: Oct 7 at 2:10PM
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 Peter M. Scotti & Assoc.,Inc.
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Investment Insights
Based on property information with market context.
Well-maintained Lockwood multifamily triplex featuring hardwood floors, spacious rooms with soaring ceilings, and abundant natural light. The property includes separate utilities, updated electrical, and vinyl siding with a roof noted as approximately five years old. A third unit offers a loft-style layout designed for a city living setup, with period character throughout.
Located at 73 Beacon Avenue in Providence, RI, the property is described as having convenient, easy access and being about one minute from the Interstate. Public remarks also note proximity to RI Hospital and Hasbro, as well as roughly five minutes from the Capital City area and the Jewelry District and cafes.
Additional details provided focus on the building’s condition and unit configuration, including the separate utility setup and the loft-style third unit. The property is offered for sale.
Located at 73 Beacon Avenue in Providence, RI, the property is described as having convenient, easy access and being about one minute from the Interstate. Public remarks also note proximity to RI Hospital and Hasbro, as well as roughly five minutes from the Capital City area and the Jewelry District and cafes.
Additional details provided focus on the building’s condition and unit configuration, including the separate utility setup and the loft-style third unit. The property is offered for sale.
Key Highlights
- Well‑maintained Lockwood multifamily/triplex built in 1920
- Triplex layout with separate utilities
- Updated electrical and 5‑years‑young roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,108
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$782,160
$782.2K
Cap Rate 7%
$558,686
$558.7K
Cap Rate 9%
$434,533
$434.5K
Market Conditions
NOI Build-Up for 2,316 SF
Gross rent
$59.8K $25.80/SF
− Vacancy
−$3.9K −$1.68/SF
EGI
$55.9K $24.12/SF
− OpEx
−$16.8K −$7.24/SF
NOI
$39.1K $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%
$782,160
Cap Rate 7%
$558,686
Cap Rate 9%
$434,533
Alternative Uses
Best Use
Multifamily LT 5
$558.7K
$488.9K – $651.8K
NOI $39,108 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$501.8K
$439.1K – $585.5K
NOI $35,128 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$774.8K
$678.0K – $904.0K
NOI $54,238 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
6,785
Businesses Nearby
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Business Placement
Demographics for 02903, RI
13,264
Population
6,588
Households
2
Avg Household Size
33
Median Age
53%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
7,802
Density / Sq Mi
$62,987
Median Household Income
$40,294
Median Earnings
$1,640
Median Rent
$365,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained Lockwood triplex with separate utilities, hardwoods, and a loft-style third unit.
Where is this triplex located?
The property is located at 73 Beacon Ave 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: Well‑maintained Lockwood multifamily/triplex built in 1920; Triplex layout with separate utilities; Updated electrical and 5‑years‑young roof
