Three-Family Residential
18 West Street West Warwick, RI 02893
18 West Street, West Warwick, RI, 02893
$500,000
Pending
For Sale
$500,000
Pending
MULTI_FAMILY - West Warwick, RI
Property Size3,146 SF
Lot Size0.58 Acres
Days on Market57
Property Features for 18 West Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 3
- Rooms
- Bedroom 7, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 3, Bathroom 3, Basement, Bedroom 4, Bedroom 8, Bedroom 6, Bedroom 1, Bedroom 2
- Parking
- 10
- Parking features
- None
- Interior features
- Wall (Cermaic), Wall (Dry Wall), Wall (Paneled), Wall (Plaster), Attic, Plumbing (Mixed), Insulation (Unknown)
- Basement
- Full, Unfinished
- Appliances
- Oven/Range, Refrigerator
- Standard status
- Pending
- Size
- 3,146 SF
- Lot size
- 0.58 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5677
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Central, Baseboard
Building Details
- Year built
- 1920
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Marble, Tile - Ceramic, Hardwood, Vinyl, Laminate
- Building materials
- Ceramic, Dry Wall, Paneled, Plaster, Vinyl Siding
Listing agency
Ri Real Estate Services
(401) 885-5400
Listed by
Jennifer Hyland
(401) 465-0417
Added: May 26 Updated: Jul 16 at 3:23PM Checked: Jul 21 at 8:06AM
MLS# 1413608
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 three-family residential building is offered for sale as-is and will require TLC. The property is configured as a large 3-family, totaling 3,146 square feet, and is being sold in its current condition without listed repairs or improvements. Buyer should plan for renovation and due diligence as part of their purchase process.
The property sits on a 0.58-acre lot at 18 West Street in West Warwick, Rhode Island. The listing notes the lot is “huge” and may be buildable. It previously received approval for a single-family dwelling several years ago, but that approval has since expired.
From an owner-occupant or investor standpoint, this is a straightforward residential income asset with an opportunity to reconsider the site after reviewing the expired approval and current buildability options. The sale is described as cash-only or without private financing, and the property is explicitly presented as-is. Prospective buyers should verify all redevelopment possibilities, including any requirements for permitting and whether any new approvals would be needed for additional construction.
The property sits on a 0.58-acre lot at 18 West Street in West Warwick, Rhode Island. The listing notes the lot is “huge” and may be buildable. It previously received approval for a single-family dwelling several years ago, but that approval has since expired.
From an owner-occupant or investor standpoint, this is a straightforward residential income asset with an opportunity to reconsider the site after reviewing the expired approval and current buildability options. The sale is described as cash-only or without private financing, and the property is explicitly presented as-is. Prospective buyers should verify all redevelopment possibilities, including any requirements for permitting and whether any new approvals would be needed for additional construction.
Key Highlights
- 3‑family home built in 1920 with 8 bedrooms and 3 bathrooms
- Large lot with prior approval for a single‑family dwelling; approval has since expired
- Public sewer connected
Local Financial Insights For Multifamily LT 5
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 | $69.8k | $22.20 |
| − Vacancy | −$4.5k | −$1.44 |
| EGI | $65.3k | $20.76 |
| − OpEx | −$19.6k | −$6.23 |
| NOI | $45.7k | $14.53 |
3,146 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$653.0K
$571.4K – $761.9K
NOI $45,711 @ 7.0% cap · market cap 9.14%
Second Best
Apartment 5plus
$599.9K
$524.9K – $699.9K
NOI $41,993 @ 7.0% cap · market cap 8.40%
Theoretical Best
Specialty Retail
$787.9K
$689.5K – $919.3K
NOI $55,156 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - As-is three-family property on a large lot, requiring TLC, with prior approval for an additional dwelling that has expired.
Where is this triplex located?
The property is located at 18 West Street West Warwick, RI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 3‑family home built in 1920 with 8 bedrooms and 3 bathrooms; Large lot with prior approval for a single‑family dwelling; approval has since expired; Public sewer connected
