3-Unit Residential Income
New
For Sale
$799,900
73 Farragut Avenue, Providence, RI 02905
Each residence has three bedrooms, separate utilities, and gas boilers.
Property Size3,447 SF
Price / SF$232.06
Days on Market5
Property Features for 73 Farragut Avenue
General Information
Standard status
Active
Size
3,447 SF
Property subtype
MultiFamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Mateus Realty
(401) 434-8399
Listed By:
Jeffrey Mateus · License #REB.0018097
(401) 447-9459
Source:
Lockandkeyre
Added: Oct 6
Changed: Oct 7
Last Checked: Oct 9 at 10:34PM
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 Mateus Realty
Investment Insights
Based on property information with market context.
This three-unit residential property contains 3,447 square feet, with three bedrooms and more than 1,100 square feet of living space in each residence. Building features include gas boilers, replacement windows, and a newer roof. Utilities are separately metered for each unit.
The property is near Roger Williams Park and has access to shopping, restaurants, transportation, and major highways.
The property is near Roger Williams Park and has access to shopping, restaurants, transportation, and major highways.
Key Highlights
- Three units, each with 3 bedrooms and over 1,100 square feet of living space
- 3,447‑square‑foot property
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,206
Cap Rate
7.28%
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 7.28%
Second Best
Apartment 5plus
$746.9K
$653.5K – $871.4K
NOI $52,282 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,725 @ 7.0% cap · market cap 10.09%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Explore this area
Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
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 has three bedrooms, separate utilities, and gas boilers.
Where is this triplex located?
The property is located at 73 Farragut Avenue Providence, RI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Three units, each with 3 bedrooms and over 1,100 square feet of living space; 3,447‑square‑foot property; Separate utilities for each unit
