Well-Maintained 3-Unit Residential
28 Bridge Street West Warwick, RI 02893
28 Bridge Street, West Warwick, RI, 02893
$560,000
Pending
For Sale
$560,000
Pending
Three fully residential units offer two bedrooms and a full bath, with front and rear decks and off-street parking.
Property Size2,475 SF
Days on Market18
Property Features for 28 Bridge Street
General Information
- Standard status
- Pending
- Size
- 2,475 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1880
Listing agency
RE/MAX Real Estate Center
(401) 823-7600
Listed by
Keith Volpicelli
Source
Lockandkeyre
Added: Jul 5 Updated: Jul 21 at 1:58PM Checked: Jul 21 at 1:58PM
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 Real Estate Center
Investment Insights
Based on property information with market context.
This well-maintained three-unit multifamily property includes a modern layout in each unit with two bedrooms, one full bathroom, a living room, and a kitchen. Unit three adds a bonus loft for additional flexible space. The home features full front and rear decks for tenant enjoyment, along with a large driveway designed to accommodate tenant parking. Off-street parking is also available, and the property includes a big backyard that abuts a bike path.
The exterior is vinyl sided, and the roof is described as about 8 years old. A full Lead Safe Certificate has been obtained. The property is located in an appealing Riverpoint area of West Warwick, with convenient access to highway routes, a hospital, and everyday amenities.
Parking and outdoor space are part of the overall unit experience here, with deck access at the front and rear of the building and a sizable yard area extending to a bike path.
The exterior is vinyl sided, and the roof is described as about 8 years old. A full Lead Safe Certificate has been obtained. The property is located in an appealing Riverpoint area of West Warwick, with convenient access to highway routes, a hospital, and everyday amenities.
Parking and outdoor space are part of the overall unit experience here, with deck access at the front and rear of the building and a sizable yard area extending to a bike path.
Key Highlights
- 3‑unit multifamily built in 1880, with three fully residential units
- Each unit has 2 bedrooms and 1 full bathroom, with a living room and kitchen
- Unit 3 includes a bonus loft
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 | $54.9k | $22.20 |
| − Vacancy | −$3.6k | −$1.44 |
| EGI | $51.4k | $20.76 |
| − OpEx | −$15.4k | −$6.23 |
| NOI | $36.0k | $14.53 |
2,475 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$513.7K
$449.5K – $599.4K
NOI $35,962 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$472.0K
$413.0K – $550.6K
NOI $33,037 @ 7.0% cap · market cap 5.90%
Theoretical Best
Specialty Retail
$619.9K
$542.4K – $723.2K
NOI $43,392 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three fully residential units offer two bedrooms and a full bath, with front and rear decks and off-street parking.
Where is this triplex located?
The property is located at 28 Bridge Street West Warwick, RI.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: 3‑unit multifamily built in 1880, with three fully residential units; Each unit has 2 bedrooms and 1 full bathroom, with a living room and kitchen; Unit 3 includes a bonus loft
