New Listing - 04/07/2025
15 Thompson Street, Warren, RI, 02885
15 rooms
5 beds
5 Full baths
1900
Fantastic turnkey investment opportunity in the heart of beautiful Warren, RI! This well-kept 5-unit apartment building features five 1-bedroom units, each fully applianced and offering individual electric and tenant-paid heat keeping owner expenses low. Located just steps from vibrant downtown, tenants enjoy a true walk-to-everything lifestyle: shops, dining, waterfront parks, and direct access to the East Bay Bike Path. The property is connected to city water and sewer, has durable vinyl siding, and offers both off-street and on-street parking on a quiet dead-end street. Rents are currently well below market value with strong upside potential. In addition, three fully finished bonus rooms on the upper level provide extra value ideal for office space or storage. Whether you're looking to move funds out of the stock market or crypto, or you're ready to stop renting and start building wealth, this asset delivers. Consider using a DSCR loan to qualify based on the building's income and expenses rather than your own. With steady cash flow, appreciation potential, and a prime location in one of Rhode Island's most charming towns, this is a smart addition to any portfolio. Don't miss out on this rare opportunity!
Status:
Active
Type:
Multi-family
Units:
4
Zoning:
R6
Subdivision:
Downtown Warren
Garage:
No Garage
Heating:
Baseboard, Gas, Hot Water
Cooling:
None
Basement:
Full, Unfinished
Parking:
4-car
Acreage:
0.07
Est. Taxes:
$4,629
Assessment
$320,600
Construction
Drywall,Vinyl Siding
Utilities
Sewer Connected
Lot Description:
Cul-De-Sac
Amenities:
Golf, Highway Access, Marina, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s), Sidewalks
Days on Market:
7
Appliances:
Gas Water Heater, Oven, Range, Refrigerator, Water Heater
MLS #:
1381527
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Engel & Volkers Phone: 401-638-0010