Updated Triplex with Solar
New
For Sale
$750,000
39 Pike Street, West Warwick, RI 02893
Three units offer separate utilities, basement storage, and washer and dryer hookups.
Property Size3,244 SF
Price / SF$231.20
Days on Market7
Property Features for 39 Pike Street
General Information
Standard status
Active
Size
3,244 SF
Property subtype
Multifamily
Building Details
Year Built
1900
Listing Agency:
Family First Realty RI, LLC
(401) 385-3630
Listed By:
Michele Stevenin
Source:
Lockandkeyre
Added: Jul 27
Changed: Jul 31
Last Checked: Aug 1 at 5:37AM
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 Family First Realty RI, LLC
Investment Insights
Based on property information with market context.
This updated three-unit property offers 3,244 square feet of residential space and was built in 1900. Renovations include brand-new kitchens, updated flooring, a new roof, and energy-saving solar panels. Each unit provides spacious living areas, separate utilities, and individual basement storage with washer and dryer hookups.
The property includes a detached oversized two-car garage, ample off-street parking for multiple vehicles, and additional street parking. Located at 39 Pike Street in West Warwick, the property is close to shopping, restaurants, highways, and local amenities. The three-family configuration supports both rental use and owner-occupancy, with the option to live in one unit while generating rental income from the others.
The property includes a detached oversized two-car garage, ample off-street parking for multiple vehicles, and additional street parking. Located at 39 Pike Street in West Warwick, the property is close to shopping, restaurants, highways, and local amenities. The three-family configuration supports both rental use and owner-occupancy, with the option to live in one unit while generating rental income from the others.
Key Highlights
- Three‑unit property with 3,244 square feet
- Brand‑new kitchens, updated flooring, and a new roof
- Energy‑saving solar panels added
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 | $72.0k | $22.20 |
| − Vacancy | −$4.7k | −$1.44 |
| EGI | $67.3k | $20.76 |
| − OpEx | −$20.2k | −$6.23 |
| NOI | $47.1k | $14.53 |
3,244 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$673.4K
$589.2K – $785.6K
NOI $47,135 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$618.6K
$541.3K – $721.7K
NOI $43,301 @ 7.0% cap · market cap 5.77%
Theoretical Best
Specialty Retail
$812.5K
$710.9K – $947.9K
NOI $56,874 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three units offer separate utilities, basement storage, and washer and dryer hookups.
Where is this triplex located?
The property is located at 39 Pike Street West Warwick, RI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three‑unit property with 3,244 square feet; Brand‑new kitchens, updated flooring, and a new roof; Energy‑saving solar panels added
