Warren RI Multi-Family
126 Main Street Warren Warren, RI 02885
126 Main Street Warren, Warren, RI, 02885
$945,000
For Sale
$945,000
Five-unit property near downtown Warren and historic Water Street.
Property Size5,706 SF
Price / SF$165.62
Days on Market63
Property Features for 126 Main Street Warren
General Information
- Standard status
- Active
- Size
- 5,706 SF
Building Details
- Year Built
- 1920
Listing Agency
(508) 501-1443
Listed by
Crystal Silva
(508) 501-1443
Source
Milestonerealtyinc
Added: May 15 Checked: Jul 16 at 2:29 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Crystal Silva
Investment Insights
Based on property information with market context.
This five-unit multi-family property in Warren, Rhode Island, consists of two separate buildings. It is located within walking distance of downtown Warren and the historic Water Street district, offering proximity to restaurants and the East Bay Bike Path. Public transportation is conveniently accessible, with a bus line to Providence and Newport located 150 feet from the property. The front building contains three units, including a spacious owner-occupied unit and two rental units. The rear building houses the remaining two units, creating a flexible income setup. The property's location provides easy access to downtown amenities. The property has a solid rental history, making it an investment opportunity for investors and owner-occupants. The property size is 5706 square feet.
Key Highlights
- Well‑located 5‑unit property near downtown Warren and the historic Water Street district.
- Strong and flexible income setup with two separate buildings.
- Spacious owner‑occupied unit in the front building.
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Five-unit property near downtown Warren and historic Water Street.
Where is this apartment building located?
The property is located at 126 Main Street Warren 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: Well‑located 5‑unit property near downtown Warren and the historic Water Street district.; Strong and flexible income setup with two separate buildings.; Spacious owner‑occupied unit in the front building.
