Brian Valenti
New Listing - 04/21/2025
15 Thompson Street, Warren, RI, 02885
1900
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!
Status:
Pending
Type:
Commercial
Furnished Remarks:
Unfurnished
Units:
5
Zoning:
R6
Complex:
Downtown
Heating:
Gas, Hot Water
Cooling:
None
Basement:
Full
Parking:
4-car
Acreage:
0.07
Est. Taxes:
$4,629
Assessment
$320,600
Permitted Use
Multi-Family,Residential
Utilities
Electricity Available,Natural Gas Available,Natural Gas Connected,Municipal Utilities,Water Connected,Sewer Available,Sewer Connected,Water Available
Amenities:
Highway Access, Near Schools, Other, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s), Sidewalks
Days on Market:
8
MLS #:
1382521
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Engel & Volkers Phone: 401-638-0010