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28-30 Riverdale Avenue West Warwick, RI 2 Multifamily Properties Offered at $1,350,000 in West Warwick, RI

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INVESTMENT HIGHLIGHTS

  • Turnkey 9-unit portfolio with strong NOI of $123,105
  • High-efficiency Navien heating systems (2023 & 2024)
  • Located in the Centreville neighborhood of West Warwick, along the Pawtuxet River and close to local shops, restaurants, and main commuter routes.
  • Low-maintenance buildings with updated systems
  • 14 assigned off-street parking spaces

EXECUTIVE SUMMARY

This is a great turnkey investment opportunity with a low-maintenance, two-building portfolio totaling 9 units at 28–30 Riverdale Avenue, producing a strong NOI of $123,105. 28 Riverdale is a clean and well-kept duplex tucked toward the back of the lot, offering two 2-bed/2-bath units with in-unit laundry, separate utilities, a private deck all overlooking the Pawtuxet River. 30 Riverdale has seven units—five 2-bedrooms and two 1-bedrooms—and comes with updated features including an up-to-date fire alarm system, lead-safe certificates, and high-efficiency Navien heating systems (installed 2023 & 2024). There’s also coin-op laundry in the basement. Tenants cover their own electric, while heat and hot water are included. Both buildings share 14 assigned parking spaces, making this a solid, income-producing property with long-term stability and strong rental appeal.

DATA ROOM Click Here to Access

TAXES & OPERATING EXPENSES (ACTUAL - 2024)

ANNUAL
Gross Rental Income $156,000
Other Income -
Vacancy Loss -
Effective Gross Income $156,000
Taxes $17,976
Operating Expenses $19,088
Total Expenses $37,064
Net Operating Income $118,936

TAXES & OPERATING EXPENSES (ACTUAL - 2024)

Gross Rental Income
Annual $156,000
Other Income
Annual -
Vacancy Loss
Annual -
Effective Gross Income
Annual $156,000
Taxes
Annual $17,976
Operating Expenses
Annual $19,088
Total Expenses
Annual $37,064
Net Operating Income
Annual $118,936

PROPERTY FACTS

Price $1,350,000
Price / SF $151.52 / SF
Sale Condition Bulk/Portfolio Sale
Cap Rate 9.12%
Sale Type Investment
Status Active
Number of Properties 2
Individually For Sale 0
Total Building Size 8,910 SF
Total Land Area 0.67 AC

PROPERTIES

PROPERTY NAME / ADDRESS PROPERTY TYPE SIZE YEAR BUILT INDIVIDUAL PRICE
30 Riverdale Ave, West Warwick, RI 02893 Multifamily 5,820 SF 1935 -
28 Riverdale Ave, West Warwick, RI 02893 Multifamily 3,090 SF 1991 -
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  • Listing ID: 38486226

  • Date on Market: 11/18/2025

  • Last Updated:

  • Address: 28-30 Riverdale Avenue West Warwick, RI, West Warwick, RI

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