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8 Unit Warren 7.2 Cap! 130 Water St 8 Unit Apartment Building $1,800,000 ($225,000/Unit) 7.20% Cap Rate Warren, RI 02885
Executive Summary
Legal 8-Unit multifamily in Warren with strong NOI and very low expenses. The property has been fully updated and features separate utilities serving up to 10 units. One legal unit is currently vacant, allowing a new owner to place their own tenant. The attic may not be converted to an additional unit and must remain as storage or be used as an extension of the 8th unit. Additional space on the 2nd floor for expansion opportunities on some existing units. All section 8 tenants.
Seller replaced almost all appliances, meters, sprinklers, and fully renovated units.
Seller replaced almost all appliances, meters, sprinklers, and fully renovated units.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $225,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 7.20% | Building Size | 4,595 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | VB - Apartment | ||
| Price | $1,800,000 |
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 7.20% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 4,595 SF |
| No. Stories | 2 |
| Year Built | 1900 |
| Opportunity Zone |
Yes |
| Zoning | VB - Apartment |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
1 1
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (80)
Property Taxes
| Parcel Number | WARR-000002-000000-000141 | Total Assessment | $610,300 (2025) |
| Land Assessment | $110,800 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $499,500 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
WARR-000002-000000-000141
Land Assessment
$110,800 (2025)
Improvements Assessment
$499,500 (2025)
Total Assessment
$610,300 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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8 Unit Warren 7.2 Cap! | 130 Water St
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