C2-Zoned Triplex
For Sale
$779,000
822 Atwood Avenue, Cranston, RI 02920
Residential Income, Cranston, RI
Property Size2,808 SF
Lot Size0.15 Acres
Price / SF$277.42
Days on Market53
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
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Basement, Bathroom 2
Parking
6
Parking features
None
Window features
Insulated Windows
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
Unfinished, Full, Storage Space
Appliances
Electric Water Heater
Lot features
Corner Lot, Paved
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, Tile - Ceramic, Hardwood
Building materials
Ceramic, Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Era Empire Real Estate
(401) 217-4442
Listed By:
Jimmy Ranieri · License #REC.0016826
(401) 413-5620
Added: Aug 14
Changed: Sep 15
Last Checked: Oct 5 at 6:06PM
MLS# 1420573
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.
Investment Insights
Based on property information with market context.
This triplex property includes approved plans for three residential units within a 2,808-square-foot building. The layout provides a two-bedroom, one-bath apartment on the first floor and two one-bedroom apartments on the second floor. The property is listed as under construction and carries a 2026 year built designation. Planned and existing specifications include central air, forced-air natural gas heating, an electric water heater, hardwood, vinyl, and ceramic tile flooring, plus a porch.
The parcel comprises 0.1469 acres across two commercially zoned C2 lots at 822 Atwood Avenue in Cranston, Rhode Island. The site is positioned along a highly visible, high-traffic corridor, with the approved residential configuration supporting a three-unit multifamily use.
The parcel comprises 0.1469 acres across two commercially zoned C2 lots at 822 Atwood Avenue in Cranston, Rhode Island. The site is positioned along a highly visible, high-traffic corridor, with the approved residential configuration supporting a three-unit multifamily use.
Key Highlights
- Approved plans for 3 residential units
- Unit mix includes one 2‑bedroom and two 1‑bedroom apartments
- 2,808 square feet on 0.1469 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,755
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$935,100
$935.1K
Cap Rate 7%
$667,929
$667.9K
Cap Rate 9%
$519,500
$519.5K
Market Conditions
NOI Build-Up for 2,808 SF
Gross rent
$71.4K $25.44/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$66.8K $23.79/SF
− OpEx
−$20.0K −$7.14/SF
NOI
$46.8K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$935,100
Cap Rate 7%
$667,929
Cap Rate 9%
$519,500
Alternative Uses
Best Use
Multifamily LT 5
$667.9K
$584.4K – $779.3K
NOI $46,755 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$530.1K
$463.8K – $618.4K
NOI $37,106 @ 7.0% cap · market cap 4.76%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 02920, RI
37,791
Population
15,052
Households
2.5
Avg Household Size
43
Median Age
32%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
4,246
Density / Sq Mi
$79,246
Median Household Income
$51,811
Median Earnings
$1,271
Median Rent
$336,900
Median Home Value
Check the figures for this property
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?
Triplex - Approved plans provide one two-bedroom unit and two one-bedroom units.
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 $779,000.
What are key features of this property?
This property features: Approved plans for 3 residential units; Unit mix includes one 2‑bedroom and two 1‑bedroom apartments; 2,808 square feet on 0.1469 acres
