Property Description
Exceptional opportunity to acquire a fully occupied, lead-certified four-unit multifamily property with strong in-place cash flow and significant recent improvements. All four units feature 2 bedrooms and 1 bathroom, generating approximately $7,500 per month ($90,000 annually) in gross rental income. Recent capital improvements include a new roof, two new driveways, new rear porches, four new hot water heaters, updated kitchens and bathrooms, and replacement windows. The property is equipped with a commercial fire alarm system that has been recently tested and certified, providing peace of mind for investors. Heating systems include a combination of forced hot air and boiler heat, with tenants responsible for their own heating expenses. Designed with efficiency in mind, the building offers minimal common area and excellent rentable square footage utilization. Situated on a large lot, the property also benefits from ongoing neighborhood investment, including a new townhome development currently under construction just down the street on Harris Avenue. A turnkey investment opportunity offering strong current returns, low-maintenance ownership, and long-term upside.
Overview
Property Type
Multi-family
Location
32 Harris Avenue, West Warwick, RI 02893
Zoning
R-8
MLS ID
1416180
Listing Last Updated
Property Features & Amenities
Interior
Total Bedrooms
8
Full Bathrooms
4
Flooring
Ceramic Tile, Hardwood, Other, Vinyl
Appliances
Dishwasher, Electric Water Heater, Gas Water Heater, Oven, Range
Other Interior Features
Interior Steps, Tub Shower
Exterior
Stories
2
Water Source
Connected, Public
Utilities
Sewer Connected
Parking
No Garage
Heat Type
Baseboard, Forced Air, Propane, Oil
Air Conditioning
None
Sewer
Connected, Public Sewer
Substructure
Concrete Perimeter
Other Exterior Features
Paved Driveway
Details
Total Area
2,979 Sq.Ft.
Architecture Styles
Stacked, Side By Side
Financial
Price
$815,000
Real Estate Tax
$7,024/yr
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