Coventry RI Multifamily Investment

505 Washington Street Coventry, RI 02816

For Sale

$900,000

MULTI_FAMILY - Coventry, RI

Type:Apartment

Property size:

5,222 SF

Lot size:

0.18 Acres

Price / SF:

$172/SF

For Sale

$900,000

MULTI_FAMILY - Coventry, RI

Type:Apartment

Property size:

5,222 SF

Lot size:

0.18 Acres

Price / SF:

$172/SF

Added:: Mar 20, 2026
Days on Market:: 114
Last Refresh:: Jul 11 at 6:06 pm

Property Features for 505 Washington Street

General Information

Property type: Residential Multi Family
Property subtype: Apartment
Bedrooms: 10
Bathrooms: 6
Rooms: Bathroom 6, Bedroom 5, Bathroom 1, Bedroom 4, Bathroom 5, Bedroom 2, Bathroom 2, Bedroom 8, Bedroom 6, Bedroom 7, Bedroom 1, Bathroom 3, Bathroom 4, Basement, Bedroom 10, Bedroom 9, Bedroom 3
Parking: 10
Parking features: Garage
Basement: Full, Unfinished
Appliances: Electric Water Heater, Gas Water Heater
Standard status: Active
Size: 5,222 SF
Lot size: 0.18 Acres

Taxes and HOA fees

Tax Year: 2025
Tax Annual Amount: 6869

Utilities

Heating system: Electric (Heating), Baseboard

Building Details

Year built: 1850
Number of units: 4
Flooring type: Laminate
Building materials: Vinyl Siding

Listing agent Kyle Seyboth License #REC.0005226

Listing office Century 21 Limitless 969 Waterman Avenue, Suite 1, East Providence, RI

Listing date Mar 20, 2026

MLS# 1407049 Listing URL

Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This is an excellent investment opportunity in Coventry, Rhode Island, featuring a well-maintained 6-unit residential property. The unit mix includes two 1-bedroom units and four 2-bedroom units. The layouts are functional and appealing, offering flexibility to accommodate a variety of tenants. The property has strong income potential and is in a sought-after and convenient location. Off-street parking adds valuable convenience for residents. The property is situated with easy access to shopping, dining, and everyday amenities along the Washington Street corridor. Quick access to Route 117 and Interstate 95 allows for an easy commute to Warwick, Cranston, and Providence. It is close to the Centre of New England, Tiogue Lake, and the Washington Secondary Bike Path for added lifestyle appeal. The property size is 5222 square feet and the lot size is 0.18 acres.

Key Highlights

Well‑maintained 6‑unit residential property offering strong income potential.
Desirable unit mix: two 1‑bedroom and four 2‑bedroom units.
Convenient location with easy access to shopping, dining, and everyday amenities along Washington Street.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$136.0k	$26.04
− Vacancy	−$9.2k	−$1.77
EGI	$126.7k	$24.27
− OpEx	−$57.0k	−$10.92
NOI	$69.7k	$13.35

5,222 SF · lease $26.04/SF/yr · vacancy 6.80% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$995.8K

$871.3K – $1.16M (±1% cap)

NOI $69,704 @ 7.0% cap · market cap 7.74%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$1.31M

$1.14M – $1.53M (±1% cap)

NOI $91,552 @ 7.0% cap · market cap 10.17%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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For sale
Apartment buildings
RI
Coventry
02816
505 Washington Street

What type of property is this?

Apartment building - Well-maintained 6-unit residential property in a convenient location.

Where is this apartment building located?

The property is located at 505 Washington Street Coventry, RI.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: Well‑maintained 6‑unit residential property offering strong income potential.; Desirable unit mix: **two 1‑bedroom and four 2‑bedroom units.**; Convenient location with easy access to shopping, dining, and everyday amenities along Washington Street.

505 Washington Street Coventry, RI 02816

MULTI_FAMILY - Coventry, RI

Property Features for 505 Washington Street

General Information

Taxes and HOA fees

Utilities

Building Details

Investment Insights

Key Highlights

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Multi-Family Home with Lift Garage

Coventry RI Investment Opportunity

Income-Producing Three-Family Property

Riverfront Restaurant with Income Apartments

Coventry Mixed-Use Commercial Property

First-Floor Commercial Space with Parking

Multi-Unit Residential Income Property

Two-Family Home with Outbuildings

Coventry, RI Investment Opportunity

Mixed-Use Building with Bar & Residence

10-Unit Multifamily Investment Property

Versatile Mixed-Use Commercial Property

FAQs