230 Phenix Ave Cranston, RI 02920
Meshanticut NeighborhoodEstimated payment $17,680/month
Total Views
1,338
21
Beds
17
Baths
15,278
Sq Ft
$183
Price per Sq Ft
Highlights
- Golf Course Community
- 0.65 Acre Lot
- Shops
- Cranston High School West Rated 9+
- Public Transportation
- Property near a hospital
About This Home
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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $26,834
Year Built
- Built in 1973
Home Design
- 15,278 Sq Ft Home
- Brick Foundation
- Masonry
Flooring
- Laminate
- Ceramic Tile
- Vinyl
Bedrooms and Bathrooms
- 21 Bedrooms
- 17 Full Bathrooms
Finished Basement
- Basement Fills Entire Space Under The House
- Interior and Exterior Basement Entry
Parking
- 26 Parking Spaces
- No Garage
Utilities
- Cooling System Mounted In Outer Wall Opening
- Heating System Uses Gas
- 440 Volts
Additional Features
- 28,316 Sq Ft Lot
- Property near a hospital
Listing and Financial Details
- Tax Lot 226
- Assessor Parcel Number 230PHENIXAVCRAN
Community Details
Amenities
- Shops
- Restaurant
- Public Transportation
Recreation
- Golf Course Community
Additional Features
- 2 Units
- Operating Expense $107,679
Map
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/26/2026 07/26/26 | Pending | -- | -- | -- |
| 07/22/2026 07/22/26 | For Sale | $2,799,000 | -- | $183 / Sq Ft |
Source: State-Wide MLS
About the Listing Agent
S & O Rhode's Other Listings
Source: State-Wide MLS
MLS Number: 1418659
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Copyright © 2026 State-Wide MLS, Inc. All rights reserved.
Nearby Homes
- 141 Cornell St
- 60 Laconia Rd
- 30 Briggs St
- 0 Randall St
- 1958 Cranston St
- 18 Koutsogiane Dr
- 216 Hyde St
- 95 Uxbridge St
- 44 Village Ave
- 9 Daisy Ct
- 61 Metropolitan Ave
- 1640 Cranston St
- 170 Selma St
- 25 Plaza St
- 57 N View Ave
- 200 Cannon St Unit 126
- 200 Cannon St Unit 107
- 200 Cannon St Unit 133
- 165 Holland St Unit 4
- 95 Hyde St
Your Personal Tour Guide
Ask me questions while you tour the home.