Map
USARICranston230 Phenix Avenue
Listing image | Image 1

230 Phenix Avenue, Cranston, RI

House

For Sale

Listed price in listed location currency (USD).
$2,799,000

211726

MLS® 1418659

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size 15278 sqft
Garage 
Taxes $26,834
Days Active 0
Lot Size 0.65 Acres
Approx. Age 1973
Avg. Price Per Sqft $183
MLS® Number 1418659

Property Address: 230 Phenix Avenue, Cranston, RI, 02920

Average square foot calculated using Size range provided by listing agent.

Description

230 Phenix Avenue is a 17-unit multifamily investment in western Cranston, offered at $2, 800, 000 ($164, 706/unit). The building four 2-bed and thirteen 1-bed units is 14 of 17 occupied and producing $280, 200 in gross income today, a 6.16% cap rate on in-place rents. The upside is clear and financeable: every occupied unit sits below market, and marking rents to market while leasing the three vacant units lifts gross income to $401, 400 and the cap rate to 10.49% on the same operating cost base roughly $121, 200 of additional annual NOI. Held flat, operating expenses run $107, 679 (taxes, insurance, utilities, landscaping/snow, cleaning, routine maintenance). Minutes from downtown Providence and anchored by Rhode Island's largest employers CVS Health, Citizens Financial Group, Care New England, Brown, IGT and Amica the asset draws a deep, stable renter pool. A rare in-place, cash-flowing building with a defined path to a double-digit return.
MLS® Number1418659
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1973
BasementExterior Entry, Full, Finished, Interior Entry
DrivewayNo Garage
Garage Spaces
HeatGas
A/CWall Units

Extras

$171, 320 NOI

Price History

-End Date
Not Sold YetSold Price

For Sale

Jul 22, 2026List Date
$2,799,000List Price
  • Commute

Commute

Starting Address
Destination Address
230 Phenix Avenue, Cranston, RI

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