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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. Newly renovated units, updated common area, new sprinkler system and a facade refresh in 2025. The property features separate utilities serving up to 10 units. Additional space on the top floor for expansion. Stable tenants and strong cashflow make this an easy turnkey investment.
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
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Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | WARR-000002-000000-000141 | Improvements Assessment | $499,500 |
| Land Assessment | $110,800 | Total Assessment | $610,300 |
Property Taxes
Parcel Number
WARR-000002-000000-000141
Land Assessment
$110,800
Improvements Assessment
$499,500
Total Assessment
$610,300
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8 Unit Warren 7.2 Cap! | 130 Water St
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