Well-Maintained Multifamily
73 Beacon Avenue Providence, RI 02903
73 Beacon Avenue, Providence, RI, 02903
$599,000
For Sale
$599,000
Well-maintained Lockwood triplex with separate utilities, hardwoods, and a loft-style third unit.
Property Size2,316 SF
Price / SF$258.64
Days on Market9
Property Features for 73 Beacon Avenue
General Information
- Standard status
- Active
- Size
- 2,316 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1920
Listing agency
Peter M. Scotti & Assoc.,Inc.
(401) 421-8888
Listed by
Rachel Wills
Source
Lockandkeyre
Added: Jul 14 Updated: Jul 21 at 9:10AM Checked: Jul 22 at 4:55AM
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.
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
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.8k | $25.80 |
| − Vacancy | −$3.9k | −$1.68 |
| EGI | $55.9k | $24.12 |
| − OpEx | −$16.8k | −$7.24 |
| NOI | $39.1k | $16.89 |
2,316 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
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 Avenue 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
