Historic Three-Unit
For Sale
$659,900
Pending
55 Warren Avenue, Warren, RI 02855
Three three-bedroom residences include off-street parking and updated building systems.
Property Size4,000 SF
Days on Market60
Property Features for 55 Warren Avenue
General Information
Standard status
Pending
Size
4,000 SF
Total Parking Spaces
4
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,300
Amenities
Ductless, Central Air
Natural Gas, Electric, Steam
Full, Unfinished, Walk-Out Access
Gas Water Heater
Attached, Garage
Building Details
Building Size
4,000 SF
Year Built
1910
Buildings
1
Listing Agency:
Engel & Volkers Oceanside
Listed By:
W. George Buteau · License #RES.0029448
(401) 339-0090
Source:
Evrealestate
Added: Aug 15
Changed: Oct 12
Last Checked: Oct 12 at 7:32PM
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 Engel & Volkers Oceanside
Investment Insights
Based on property information with market context.
This 4,000-square-foot triplex, built in 1910, contains three residential units with three bedrooms in each. Recent improvements include a new roof, new windows, and additional updates throughout the property. Off-street parking supports the three-unit configuration, while preserved columns, built-ins, and original architectural elements retain the building’s historic character.
The property is located in Warren’s Historic District at 55 Warren Avenue. Waterfront access, restaurants, shops, cafés, and downtown Warren are all within walking distance, providing a pedestrian-oriented setting for residents.
With nine total bedrooms and a combination of historic detailing and completed improvements, the property supports both owner-occupancy and residential rental use.
The property is located in Warren’s Historic District at 55 Warren Avenue. Waterfront access, restaurants, shops, cafés, and downtown Warren are all within walking distance, providing a pedestrian-oriented setting for residents.
With nine total bedrooms and a combination of historic detailing and completed improvements, the property supports both owner-occupancy and residential rental use.
Key Highlights
- Three‑unit residential property with 4,000 square feet
- Each of the three units includes three bedrooms
- Nine total bedrooms across the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,670
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,213,400
$1.2M
Cap Rate 7%
$866,714
$866.7K
Cap Rate 9%
$674,111
$674.1K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$117.6K $29.40/SF
− Vacancy
−$7.3K −$1.82/SF
EGI
$110.3K $27.58/SF
− OpEx
−$49.6K −$12.41/SF
NOI
$60.7K $15.17/SF
Area
Bristol County, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,213,400
Cap Rate 7%
$866,714
Cap Rate 9%
$674,111
Alternative Uses
Best Use
Multifamily LT 5
$964.9K
$844.3K – $1.13M
NOI $67,544 @ 7.0% cap · market cap 10.24%
Second Best
Apartment 5plus
$866.7K
$758.4K – $1.01M
NOI $60,670 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,675 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
711
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three three-bedroom residences include off-street parking and updated building systems.
Where is this triplex located?
The property is located at 55 Warren Avenue Warren, RI.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: Three‑unit residential property with 4,000 square feet; Each of the three units includes three bedrooms; Nine total bedrooms across the property
