Turnkey C-2 Triplex
822 Atwood Avenue, Cranston, RI 02920
New
MULTI_FAMILY - Cranston, RI
Property size:
2,808 SFLot size:
0.15 AcresPrice / SF:
$320/SF- Added:
- Jun 2, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 3 at 10:06 am
Property Features for 822 Atwood Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Zoning
- C2
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 2, Basement
- Parking
- 6
- Parking features
- Garage
- Patio and Porch features
- Porch
- Interior features
- Wall (Cermaic), Wall (Dry Wall), Wall (Plaster), Attic, Internal Expansion, Rough Bath, Stairs, Plumbing (Mixed), Insulation (Ceiling), Insulation (Floors), Insulation (Walls)
- Exterior features
- Porch
- Basement
- Full, Unfinished, Storage Space
- Appliances
- Electric Water Heater
- Standard status
- Active
- Size
- 2,808 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5580
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 2026
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Vinyl, Hardwood, Tile - Ceramic
- Building materials
- Ceramic, Dry Wall, Plaster, Vinyl Siding
Listing agent Jimmy Ranieri (707) 273-4543
Listing office Era Empire Real Estate 896 Broadway, East Providence, RI (401) 217-4442
Listing date Jun 2, 2026
MLS# 1414237
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
- Under construction, with Year Built listed as 2026
- Two commercially zoned C‑2 lots
- Approved plans for 3 residential units: one 2‑bedroom/1 full‑bath first‑floor apartment and two 1‑bedroom units on the second floor
- Central air and forced‑air heating with natural gas
- Garage parking plus porch
- Interior features include rough bath, attic, and insulation in ceiling, floors, and walls
Overview
This turnkey multifamily opportunity includes a three-unit residential plan on two commercially zoned C-2 lots, positioned for immediate occupancy. The approved layout features a spacious first-floor unit with two bedrooms and one full bath, plus two efficient one-bedroom units on the second floor. The property has undergone a comprehensive redevelopment, offering the appeal of effectively new construction and reducing the likelihood of near-term maintenance concerns while supporting rental income potential. The seller/developer is also willing to entertain offers in “as-is” condition, providing flexibility for investors or owner-occupants.
Located at 822 Atwood Avenue in Cranston, RI, the property benefits from a highly visible, high-traffic setting. The nearly completed redevelopment and strong exposure align well with operators looking to bring an income-producing asset online efficiently.
With versatile C-2 zoning and a residential configuration already planned, the asset can fit investors focused on cash-flow or owner-occupants seeking a live-in option with additional rental income. The combination of redevelopment progress, defined unit mix, and commercial zoning makes it a practical candidate for buyers looking for a straightforward path to stabilization once the project is finalized.
Located at 822 Atwood Avenue in Cranston, RI, the property benefits from a highly visible, high-traffic setting. The nearly completed redevelopment and strong exposure align well with operators looking to bring an income-producing asset online efficiently.
With versatile C-2 zoning and a residential configuration already planned, the asset can fit investors focused on cash-flow or owner-occupants seeking a live-in option with additional rental income. The combination of redevelopment progress, defined unit mix, and commercial zoning makes it a practical candidate for buyers looking for a straightforward path to stabilization once the project is finalized.
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 | $71.4k | $25.44 |
| − Vacancy | −$4.6k | −$1.65 |
| EGI | $66.8k | $23.79 |
| − OpEx | −$20.0k | −$7.14 |
| NOI | $46.8k | $16.65 |
2,808 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$667.9K
$584.4K – $779.3K
NOI $46,755 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$530.1K
$463.8K – $618.4K
NOI $37,106 @ 7.0% cap · market cap 4.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Cranston
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.480384
- Latitude
- 41.794615
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Redeveloped triplex with approved plans for three units on two commercially zoned lots, suited for income or owner occupancy.
Where is this triplex located?
The property is located at 822 Atwood Avenue Cranston, RI.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Under construction, with Year Built listed as 2026; Two commercially zoned C‑2 lots; Approved plans for 3 residential units: one 2‑bedroom/1 full‑bath first‑floor apartment and two 1‑bedroom units on the second floor
