Warren, RI 02885 15 Thompson Street
$750,000
42 more
Presented By:
SQFT • 2,900
Home Details
Fantastic turnkey investment property in the heart of historic Warren, RI, located in an Opportunity Zone! This meticulously maintained 5-unit apartment building features five fully-applianced, 1-bedroom units with individual electric meters and tenant-paid heat keeping owner expenses low. Ideally located just steps from downtown Warren, tenants enjoy boutique shops, award-winning restaurants, waterfront parks, and the popular East Bay Bike Path. Connected to city water/sewer and featuring durable vinyl siding, the property offers ample off-street and on-street parking on a quiet dead-end street. Rents are currently below market, providing significant upside potential for increased cash flow. A savvy owner can maximize income with three additional finished bonus rooms upstairs perfect as rentable office spaces, storage units, or even a shared workspace for additional revenue. Consider leveraging a DSCR loan to qualify based on the property's income rather than personal finances. An exceptional asset for investors or owner-occupants don't miss out!
Presented By:
Interior Features for 15 Thompson Street
Bathrooms
Total Baths
Other Interior Features
Above Grade Finished Area2900.0
Air Conditioning Y/NNo
BasementFull
Basement (Y/N)Yes
Fireplace Y/NNo
Furnished Y/NUnfurnished
Heating Y/NYes
Total Stories3
General for 15 Thompson Street
Additional Parcels Y/NNo
Attached Garage No
Carport Y/NNo
CityWarren
Community FeaturesHighwayAccess, NearSchools, Other, PublicTransportation, RecreationArea, Restaurant, Shopping, TennisCourts, Sidewalks
ContingencyInspection Period
CoolingNone
CountyBristol
ElectricAmps100, CircuitBreakers
Electric On Property Y/NNo
Garage Y/NNo
HOANo
HeatingGas, HotWater
Home Warranty Y/NNo
Insurance Expense6605.92
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsThreeOrMore
Lot Size Square Feet3049.0
Lot Size UnitsSquareFeet
MobileHomeRemainsYNNo
Net Operating Income45398.0
New ConstructionNo
Number Of Units Total5
Number of Units Leased5
Occupancy TypeTenant
Ownership TypeSoleProprietor
PossessionCloseThrough45Days, Immediately
Possible UseMultiFamily, Residential
Property Attached Y/NNo
Property SubtypeCommercial
Property TypeCommercialSale
Rent Control Y/NNo
Security FeaturesFireAlarm, SecuredGarageParking
Senior Community Y/NNo
SewerConnected, PublicSewer, Sanitary
Standard StatusActiveUnderContract
StatusActiveUnderContract
Stories3
Structure TypeApartment, MultiFamily
Subdivision NameDowntown
Tax Annual Amount4629.0
Tax Assessed Value320600
Tax Lot47
Tax Year2024
UtilitiesElectricityAvailable, NaturalGasAvailable, NaturalGasConnected, MunicipalUtilities, WaterConnected, SewerAvailable, SewerConnected, WaterAvailable
Virtual TourClick here
Water Sewer Expense1298.19
Waterfront Y/NNo
Year Built1900
ZoningR6
Exterior for 15 Thompson Street
Building Area Total2900.0
Crops Included Y/NNo
Foundation DetailsConcretePerimeter
Horse Y/NNo
Inclusions5 refrigerators / 5 Oven Range
Irrigation Water Rights Y/NNo
Lot Size Acres0.067
Lot Size Area3049.0
Number of Buildings1
Open Parking Y/NNo
Road Frontage TypeCityStreet
Road Surface TypePaved
SpaNo
Total Parking4.0
Water SourceConnected, Public
Additional Details
Price History
Angela Edmond
REALTOR®