Three-Family Rental
For Sale
$935,000
792 Atwells Avenue, Providence, RI 02909
Three-family residential building with two basement units and multiple one- and three-bedroom layouts.
Property Size3,284 SF
Price / SF$284.71
Days on Market92
Property Features for 792 Atwells Avenue
General Information
Standard status
Active
Size
3,284 SF
Property subtype
MultiFamily
Additional Details
Business Included
Yes
Multifamily Units
6
Building Details
Year Built
1900
Stories
3
Listing Agency:
Circle 100 Real Estate
(401) 336-6083
Listed By:
Lissette Guzman · License #RES.0042951
(401) 230-6272
Source:
Lockandkeyre
Added: Jul 6
Changed: Oct 4
Last Checked: Oct 5 at 7:07PM
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 three-family rental property includes multiple separate one-bedroom units and larger upper-floor living space. The first floor is arranged as two one-bedroom, one-bath units, with one unit currently used as an Airbnb. The fully renovated second floor provides three bedrooms and one and a half bathrooms. The third floor needs cosmetic updates.
Additional income potential comes from a basement that is subdivided into two more one-bedroom units. Behind the building, there is a vacant lot that is available for purchase but not included in the house sale; the owner indicates a reduced price if purchased together as a package.
Additional income potential comes from a basement that is subdivided into two more one-bedroom units. Behind the building, there is a vacant lot that is available for purchase but not included in the house sale; the owner indicates a reduced price if purchased together as a package.
Key Highlights
- Three‑family residential building built in 1900 with multiple one- and three‑bedroom layouts
- First floor has two 1‑bedroom, 1‑bath units; one unit is currently used as an Airbnb
- Second floor is fully renovated with 3 bedrooms and 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,810
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,200
$996.2K
Cap Rate 7%
$711,571
$711.6K
Cap Rate 9%
$553,444
$553.4K
Market Conditions
NOI Build-Up for 3,284 SF
Gross rent
$96.5K $29.40/SF
− Vacancy
−$6.0K −$1.82/SF
EGI
$90.6K $27.58/SF
− OpEx
−$40.8K −$12.41/SF
NOI
$49.8K $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%
$996,200
Cap Rate 7%
$711,571
Cap Rate 9%
$553,444
Alternative Uses
Best Use
Apartment 5plus
$711.6K
$622.6K – $830.2K
NOI $49,810 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$961.3K – $1.28M
NOI $76,907 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,783
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
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?
Apartment building - Three-family residential building with two basement units and multiple one- and three-bedroom layouts.
Where is this apartment building located?
The property is located at 792 Atwells Avenue Providence, RI.
What is the asking price?
The asking price for this property is $935,000.
What are key features of this property?
This property features: Three‑family residential building built in 1900 with multiple one- and three‑bedroom layouts; First floor has two 1‑bedroom, 1‑bath units; one unit is currently used as an Airbnb; Second floor is fully renovated with 3 bedrooms and 1.5 bathrooms
