West Warwick Multifamily Investment
30 Potter Avenue West Warwick, RI 02893
30 Potter Avenue, West Warwick, RI, 02893
$1,000,000
For Sale
Under Contract
$1,000,000
MULTI_FAMILY - West Warwick, RI
Property Size4,679 SF
Lot Size0.24 Acres
Price / SF$213.72
Days on Market228
Property Features for 30 Potter Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 4
- Rooms
- Bedroom 7, Bathroom 2, Bedroom 5, Bedroom 6, Bedroom 8, Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 9, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 10, Basement, Bedroom 2
- Parking
- 12
- Parking features
- None
- Patio and Porch features
- Deck
- Interior features
- Wall (Dry Wall), Wall (Paneled), Plumbing (Mixed)
- Exterior features
- Deck
- Basement
- Full, Unfinished, Storage Space
- Appliances
- Gas Water Heater, Oven/Range, Refrigerator
- Standard status
- Active Under Contract
- Size
- 4,679 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 13321
Utilities
- Heating system
- Natural Gas, Space Heater, Forced Air, Baseboard
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Number of units
- 4
- Flooring type
- Laminate, Tile - Ceramic
- Building materials
- Dry Wall, Paneled, Vinyl Siding
Listing Agency
Blackstone/Ocean Properties
(401) 383-4400
931 Jefferson Blvd. Ste. 2006, Warwick, RI
Listed by
John Kidd
(401) 383-4400
Added: Dec 2, 2025 Checked: Jul 18 at 8:06 am
MLS# 1401045
Listing URL
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 multifamily property in West Warwick, Rhode Island, presents an investment opportunity. The property features a six-unit apartment house with off-street parking. Electrical and fire systems have been updated. Lead certificates are available for all units. The property has a history of rentals. Each unit is equipped with individual heating and electrical systems, as well as storage units with washer and dryer hookups. The building has a total area of 4679 square feet and is situated on a lot of 0.24 acres.
Key Highlights
- 6‑unit apartment house with off‑street parking and garage parking
- Updated electrical and fire systems
- Lead certificates available for all units
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 | $121.8k | $26.04 |
| − Vacancy | −$8.3k | −$1.77 |
| EGI | $113.6k | $24.27 |
| − OpEx | −$51.1k | −$10.92 |
| NOI | $62.5k | $13.35 |
4,679 SF · lease $26.04/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$892.2K
$780.7K – $1.04M
NOI $62,456 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,032 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit apartment building with parking and updated systems.
Where is this apartment building located?
The property is located at 30 Potter Avenue West Warwick, RI.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 6‑unit apartment house with off‑street parking and garage parking; Updated electrical and fire systems; Lead certificates available for all units
