Three-Unit Residential
89 America Street, Providence, RI 02903
For Sale
$899,000
Three apartments provide a 10-bedroom layout, with off-street parking for up to six vehicles.
Property Size3,329 SF
Price / SF$270.05
Days on Market31
Property Features for 89 America Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Coastline Realty LLC
Listed By:
Anna Hsiao · License #REB.0019066
(401) 808-1303
Source:
Jameshallrealestate
Added: Oct 8
Changed: Nov 7
Last Checked: Nov 7 at 12:02PM
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 Coastline Realty LLC
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Investment Insights
Based on property information with market context.
This 3,329-square-foot triplex contains three apartments and 10 bedrooms. The first- and second-floor units each have three bedrooms, one full bathroom, and an updated eat-in kitchen. A four-bedroom apartment occupies the third floor and includes stainless steel appliances and a double-sink vanity. The property was built in 1910 and has three separate tankless forced hot-water heating systems, approximately six years old. A new roof was installed in 2026, and the driveway and parking area have been newly paved.
Located at 89 America Street in Providence, the property is near Atwells Avenue and Broadway, with restaurants, cafes, and shops nearby. Downtown Providence, universities, hospitals, and highways are also described as minutes away.
Located at 89 America Street in Providence, the property is near Atwells Avenue and Broadway, with restaurants, cafes, and shops nearby. Downtown Providence, universities, hospitals, and highways are also described as minutes away.
Key Highlights
- Three apartments with a combined 10 bedrooms and 3 full bathrooms
- First- and second‑floor units each have 3 bedrooms and an updated eat‑in kitchen
- Third‑floor apartment has 4 bedrooms, stainless steel appliances, and a double‑sink vanity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,214
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,124,280
$1.1M
Cap Rate 7%
$803,057
$803.1K
Cap Rate 9%
$624,600
$624.6K
Market Conditions
NOI Build-Up for 3,329 SF
Gross rent
$85.9K $25.80/SF
− Vacancy
−$5.6K −$1.68/SF
EGI
$80.3K $24.12/SF
− OpEx
−$24.1K −$7.24/SF
NOI
$56.2K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,124,280
Cap Rate 7%
$803,057
Cap Rate 9%
$624,600
Alternative Uses
Best Use
Multifamily LT 5
$803.1K
$702.7K – $936.9K
NOI $56,214 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$721.3K
$631.2K – $841.5K
NOI $50,492 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$1.11M
$974.5K – $1.30M
NOI $77,961 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,415
Businesses Nearby
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Business Placement
Demographics for 02903, RI
13,264
Population
6,588
Households
2
Avg Household Size
33
Median Age
53%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
7,802
Density / Sq Mi
$62,987
Median Household Income
$40,294
Median Earnings
$1,640
Median Rent
$365,600
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Providence, RI
Properties on Market for Triplexes in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments provide a 10-bedroom layout, with off-street parking for up to six vehicles.
Where is this triplex located?
The property is located at 89 America Street Providence, 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: Three apartments with a combined 10 bedrooms and 3 full bathrooms; First- and second‑floor units each have 3 bedrooms and an updated eat‑in kitchen; Third‑floor apartment has 4 bedrooms, stainless steel appliances, and a double‑sink vanity
