Federal Hill Triplex
74 Sutton Street, Providence, RI 02903
New
MULTI_FAMILY - Providence, RI
Property size:
3,420 SFLot size:
0.09 AcresPrice / SF:
$210/SF- Added:
- May 13, 2026
- Days on Market:
- 4
- Last Refresh:
- May 16 at 8:06 pm
Property Features for 74 Sutton Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-3
- Bedrooms
- 8
- Bathrooms
- 3
- Rooms
- Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 7, Bathroom 3, Bathroom 2, Bedroom 5, Bedroom 6, Bedroom 8, Basement, Bathroom 1, Bedroom 3
- Parking
- 7
- Interior features
- Wall (Dry Wall), Wall (Paneled), Wall (Plaster), Skylight, Stairs, Plumbing (Mixed), Insulation (Walls)
- Basement
- Full, Unfinished
- Appliances
- Microwave, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 3,420 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9975
Utilities
- Heating system
- Baseboard, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1850
- Floors in Building
- 4
- Number of units
- 3
- Flooring type
- Hardwood, Laminate
- Building materials
- Dry Wall, Paneled, Plaster, Vinyl Siding
Listing agent Ramiro Encizo License #RES.0042346 (401) 439-7705
Listing office Residential Properties Ltd. 140 Wickenden Street, RI (401) 274-6740
Listing date May 13, 2026
MLS# 1412478
Listing URL
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime Federal Hill location, walkable to cafes, shops, eateries, and Downtown Providence.
- Three‑unit property with separate utilities, ideal for investors or owner‑occupants.
- Newer roof (2023), vinyl siding, and replacement windows for worry‑free ownership.
- Three‑bay garage.
- Fully occupied with potential for owner‑occupancy and market‑rate rental income.
- Spacious interiors: one 2‑bedroom unit and two 3‑bedroom units.
Overview
This classic Federal Hill property, dating back to the 1850s, has been carefully maintained and modernized. The property is located between Atwells Avenue and Broadway. This three-unit property features spacious interiors. The first floor is configured as a two-bedroom, one-bath unit, while the second and third floors each contain three-bedroom, one-bath units. The property includes separate utilities, a newer roof installed in 2023, vinyl siding, and replacement windows. A three-bay garage is also present. The property is situated in one of the city's prime rental markets, with convenient walkability to cafes, shops, and eateries, as well as proximity to Downtown Providence. The property is currently fully occupied, with a mix of leases and month-to-month tenancies, creating a possibility for an owner occupant to live in one of the units while benefitting from two market rents to subsidize a majority of their mortgage payment. The lot size is 0.09 acres, and the property size is 3420 square feet. The zoning is R-3.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$641.7K
NOI $57,750 @ 9.00% cap · cautious / downside scenario
Moderate
$825.0K
NOI $57,750 @ 7.00% cap · market / base-case scenario
Aggressive
$1.16M
NOI $57,750 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $88.2k | $25.80 |
| − Vacancy | −$5.7k | −$1.68 |
| EGI | $82.5k | $24.12 |
| − OpEx | −$24.8k | −$7.24 |
| NOI | $57.8k | $16.89 |
3,420 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$825.0K
$721.9K – $962.5K
NOI $57,750 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$741.0K
$648.4K – $864.6K
NOI $51,873 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,092 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.428552
- Latitude
- 41.822893
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Classic, modernized triplex in prime Providence location.
Where is this triplex located?
The property is located at 74 Sutton Street Providence, RI.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Prime Federal Hill location, walkable to cafes, shops, eateries, and Downtown Providence.; Three‑unit property with separate utilities, ideal for investors or owner‑occupants.; Newer roof (2023), vinyl siding, and replacement windows for worry‑free ownership.
