115-117 Washington Street

Multi-Family for Sale
Catylist Listing ID: 30756479
Property Subtypes: Mixed Use
Number of Units: 6 Units
Building Size (RSF): 8,500 SF
Gross Building Area: 12,750 SF
Gross Land Area: 0.11 Acres
Sale Price: $499,000
Unit Price: $83,166.67 Per Unit
Property Use Type: Investment
Usable Size (USF): 8,500 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/25/2021

Overview / Comments

Unique historic building is located at the corner of Washington Street and Crawford Street. This mixed use property consists of 4 residential, apartments, three 2 bedroom units and one 1 bedroom unit, and 2 retail storefronts. All new electric service throughout. Revitalization of the once vibrant downtown West Warwick has been underway for the past several years and continues with the recent additions of CVS, The Arctic Theater, all new residential housing on the site of the former Holmes Jewelers with more to come.
Currently operating at full occupancy with annual gross income at $63,000.
Apartment 1 $900 per month
Apartment 2 $1,000 per month
Apartment 3 $1,000 per month
Apartment 4 $1,100 per month
Storefronts $1,200 per month

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $12,965 (Annual)
Tax Value Land $45,400
Tax Value Improvements $305,900
Assessed Value - Total($) $351,300 (Annual)

Additional Details

Nearest MSA: Providence-Warwick
County: Kent
Taxing Authority: Town of West Warwick
Tax ID/APN: WW 006-0477-0-000
Zoning: ARCTIC DESIGN CONTROL DISTRICT
Percent Occupied: 100%
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 2
Year Built: 1900
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Total Parking Spaces: 2
Heat Type: Oil
Heat Source: Other
Fuel: Oil
Zoning Description: Arctic Design Control District
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,343 69,559 140,515
Median Age: 37.88 41.91 42.91
Households: 6,649 29,545 57,322

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