Five-Unit Multifamily with Two
126 Main Street Warren, RI 02885
For Sale
$945,000
MULTI_FAMILY - Warren, RI
Property Size5,706 SF
Lot Size0.14 Acres
Price / SF$165.62
Days on Market48
Property Features for 126 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-6
Bedrooms
11
Bathrooms
5
Rooms
Bathroom 4, Bedroom 10, Bedroom 5, Bedroom 8, Bedroom 11, Bedroom 7, Bathroom 3, Bedroom 6, Bedroom 3, Bathroom 5, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 9, Bathroom 1
Parking
4
Standard status
Active
APN
538550
Size
5,706 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11084
Building Details
Year built
1920
Floors in Building
5
Number of units
5
Listing Agency:
RE/MAX River's Edge
(401) 254-1776
Listed By:
Michelle Cartwright · License #224874
(401) 433-5100
Added: Jun 13
Changed: Jul 29
Last Checked: Jul 30 at 5:06AM
MLS# 73535581
Copyright © 2026 MLS Property Information Network 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 5-unit multifamily property is arranged in two separate buildings on a single lot. The front building contains three units, including a spacious owner-occupied unit along with two additional units. The rear building provides two more units, creating a straightforward mix of owner and tenant living within the same investment footprint.
The buildings are located in Warren, RI, with walkable access to downtown and the historic Water Street district. The property is also described as being close to restaurants and the East Bay Bike Path. Public transportation is noted as convenient, with a bus line to Providence and Newport reportedly located about 150 feet from the property, supporting practical day-to-day accessibility.
For buyers seeking either an income-producing setup or an owner-occupant arrangement, the existing layout offers immediate flexibility. With three units in the front building and two units in the rear building, the property supports an operator who wants to live in one unit while renting the others. Prospective tenants and owners should review the units and configuration directly, and confirm all details at due diligence based on their specific operational and occupancy goals.
The buildings are located in Warren, RI, with walkable access to downtown and the historic Water Street district. The property is also described as being close to restaurants and the East Bay Bike Path. Public transportation is noted as convenient, with a bus line to Providence and Newport reportedly located about 150 feet from the property, supporting practical day-to-day accessibility.
For buyers seeking either an income-producing setup or an owner-occupant arrangement, the existing layout offers immediate flexibility. With three units in the front building and two units in the rear building, the property supports an operator who wants to live in one unit while renting the others. Prospective tenants and owners should review the units and configuration directly, and confirm all details at due diligence based on their specific operational and occupancy goals.
Key Highlights
- 5‑unit multi‑family property in Warren, RI, built in 1920
- Two separate buildings: front building with 3 units (including an owner‑occupied unit and 2 rentals)
- Rear building has 2 additional units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $167.8k | $29.40 |
| − Vacancy | −$10.4k | −$1.82 |
| EGI | $157.4k | $27.58 |
| − OpEx | −$70.8k | −$12.41 |
| NOI | $86.5k | $15.17 |
5,706 SF · lease $29.40/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.08M – $1.44M
NOI $86,546 @ 7.0% cap · market cap 9.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,628 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building 5-unit property with an owner-occupied unit and additional rentals near Warren’s downtown amenities.
Where is this apartment building located?
The property is located at 126 Main Street Warren, RI.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: 5‑unit multi‑family property in Warren, RI, built in 1920; Two separate buildings: front building with 3 units (including an owner‑occupied unit and 2 rentals); Rear building has 2 additional units
