Three-Story Multifamily
For Sale
$649,000
Pending
739 Potters Ave, Providence, RI 02907
Three-level residence with multiple bedrooms, double parlors, a two-car garage, and solar panels.
Property Size3,513 SF
Days on Market42
Property Features for 739 Potters Ave
General Information
Standard status
Pending
Size
3,513 SF
Total Parking Spaces
2
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,546
Building Details
Stories
3
Listing Agency:
Circle 100 Real Estate
(401) 336-6083
Listed By:
Lissette Guzman · License #RES.0042951
(401) 230-6272
Source:
Exprealty
Added: Sep 3
Changed: Oct 9
Last Checked: Oct 13 at 1:46AM
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 Circle 100 Real Estate
Investment Insights
Based on property information with market context.
This multifamily property spans three floors with a distinct residential arrangement on each level. The first floor contains 3 bedrooms, while the second and third floors each provide 3 bedrooms along with a double parlor. A two-car garage adds on-site parking and storage capacity.
Solar panels are installed at the property. The existing configuration may offer a path toward conversion into a four-unit property, subject to municipal approvals and buyer due diligence. The seller may consider addressing the remaining solar balance depending on the offer terms.
Solar panels are installed at the property. The existing configuration may offer a path toward conversion into a four-unit property, subject to municipal approvals and buyer due diligence. The seller may consider addressing the remaining solar balance depending on the offer terms.
Key Highlights
- 3 bedrooms on the first floor
- Second floor includes 3 bedrooms and a double parlor
- Third floor includes 3 bedrooms and a double parlor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,283
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,065,660
$1.1M
Cap Rate 7%
$761,186
$761.2K
Cap Rate 9%
$592,033
$592.0K
Market Conditions
NOI Build-Up for 3,513 SF
Gross rent
$103.3K $29.40/SF
− Vacancy
−$6.4K −$1.82/SF
EGI
$96.9K $27.58/SF
− OpEx
−$43.6K −$12.41/SF
NOI
$53.3K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,065,660
Cap Rate 7%
$761,186
Cap Rate 9%
$592,033
Alternative Uses
Best Use
Apartment 5plus
$761.2K
$666.0K – $888.1K
NOI $53,283 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,270 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three-level residence with multiple bedrooms, double parlors, a two-car garage, and solar panels.
Where is this multifamily property located?
The property is located at 739 Potters Ave Providence, RI.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 3 bedrooms on the first floor; Second floor includes 3 bedrooms and a double parlor; Third floor includes 3 bedrooms and a double parlor
