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Historic Warren Multifamily Investment Opportunity

21 Federal, Warren, RI 02885

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For Sale

$1,250,000

Six-unit historic mansion in Warren's Waterfront Historic District.

Type:Commercial

Property size:

4,154 SF

Lot size:

0.80 Acres

Price / SF:

$300/SF

HighLights

Historic 1850 Bosworth Mansion in Warren's Waterfront Historic District.
Rare .8‑acre lot within walking distance to Belcher Cove, Main Street, and Water Street.
Six‑unit property with diverse layouts including one and two‑bedroom options, some with flex rooms.
Potential for condo conversion or building additional units (subject to approvals).
Walkable to East Bay Bike Path, shops, restaurants, and a short distance to the Fall River train station (Boston commuter service).
Original architectural details and abundant natural light throughout.

We can help!

Contact an agent

MICHELLE CARTWRIGHT

For Sale

$1,250,000

Six-unit historic mansion in Warren's Waterfront Historic District.

Type:Commercial

Property size:

4,154 SF

Lot size:

0.80 Acres

Price / SF:

$300/SF

Added:: Sep 30, 2025
Days on Market:: 270
Last Refresh:: Apr 5 at 9:02 pm

Property Features for 21 Federal

General Information

Standard status: Active
Size: 4,154 SF
Lot size: 0.80 Acres
Property subtype: Commercial

Building Details

Year Built: 1850

We can help!

Contact an agent

MICHELLE CARTWRIGHT

Listing office RE/MAX RIVER'S EDGE

Listing date Sep 30, 2025

Source Corcoran

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 RE/MAX RIVER'S EDGE

HighLights

Historic 1850 Bosworth Mansion in Warren's Waterfront Historic District.
Rare .8‑acre lot within walking distance to Belcher Cove, Main Street, and Water Street.
Six‑unit property with diverse layouts including one and two‑bedroom options, some with flex rooms.
Potential for condo conversion or building additional units (subject to approvals).
Walkable to East Bay Bike Path, shops, restaurants, and a short distance to the Fall River train station (Boston commuter service).
Original architectural details and abundant natural light throughout.

Overview

The Bosworth Mansion, constructed around 1850, is a mid-19th century Greek Revival property located in Warren, Rhode Island's Waterfront Historic District. This six-unit multifamily property is situated on a 0.8-acre lot near Belcher Cove, Main Street, and Water Street. The property contains original architectural details and natural light. The unit mix includes two one-bedroom units, three one-bedroom units with a flex room suitable for an office or guest space, and a two-bedroom unit on the third floor. Additional features include a one-car garage with expansion potential, fire-code compliance, coin-operated laundry in the basement, and storage space. The property is walkable to the East Bay Bike Path, Main Street shops, and the Water Street district, which features cafes, restaurants, and boutiques. It is also near the new Fall River train station with commuter service to Boston and a short distance to Providence. Condo conversion or the building of additional units may be a possibility, subject to proper approvals.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$122.1k	$29.40
− Vacancy	−$7.6k	−$1.82
EGI	$114.6k	$27.58
− OpEx	−$51.6k	−$12.41
NOI	$63.0k	$15.17

4,154 SF · lease $29.40/SF/yr · vacancy 6.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$900.1K

$787.6K – $1.05M (±1% cap)

NOI $63,006 @ 7.0% cap · market cap 5.04%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.39M

$1.22M – $1.62M (±1% cap)

NOI $97,282 @ 7.0% cap · market cap 7.78%

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

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Warren
County: Bristol
State: Rhode Island
Longitude: -71.2799
Latitude: 41.7314

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For sale
Apartment buildings
RI
Warren
02885
21 Federal

What type of property is this?

Apartment building - Six-unit historic mansion in Warren's Waterfront Historic District.

Where is this apartment building located?

The property is located at 21 Federal Warren, RI.

What is the asking price?

The asking price for this property is $1,250,000.

What are key features of this property?

This property features: Historic 1850 Bosworth Mansion in Warren's Waterfront Historic District.; Rare .8‑acre lot within walking distance to Belcher Cove, Main Street, and Water Street.; Six‑unit property with diverse layouts including one and two‑bedroom options, some with flex rooms.