New Listing - 04/07/2025
15 Thompson Street, Warren, RI, 02885
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:
Commercial
Furnished Remarks:
Unfurnished
Units:
5
Zoning:
R6
Complex:
Downtown Warren
Heating:
Gas, Hot Water
Cooling:
None
Basement:
Full
Parking:
4-car
Acreage:
0.07
Est. Taxes:
$4,629
Assessment
$320,600
Permitted Use
Multi-Family,Residential
Utilities
Electricity Available,Natural Gas Available,Natural Gas Connected,Municipal Utilities,Water Connected,Sewer Available,Sewer Connected,Water Available
Amenities:
Highway Access, Near Schools, Other, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s), Sidewalks
MLS #:
1381719
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Engel & Volkers Phone: 401-638-0010