1055 Main St.

Multi-Family: Low-Rise

1055 E Main St, West WarwickRI 02893

Property Details

Location

Address
1055 E Main St, West WarwickRI 02893
County
Kent
Submarket
Parcels
WW 004-0163-0-000

Building Size

Building Size
4,632 SF
Rentable Space
4,632 SF

Building Details

Type
 Multi-Family: Low-Rise
Number of Buildings
3
Number of Units
6
Occupancy Type
Single Tenant
Percent Occupied
Building Class
Building Status
Existing
Floors
3
Year Built
1860
Year Renovated
2021
Sprinklers
Total Parking
8
Parking Ratio
1.7

Land & Utilities

Land (Acres)
0.45 Acres
Land (SF)
19,602 SF
Sanitary Sewer
Yes
Water
Yes
Rail Service
No
Zoning
B- BUSINESS AND R-8
Lot Depth
144 ft
Lot Width
90 ft

Contacts

Current Listings

1055 Main Street, West Warwick, RI

4,632 SF$699,000
Cap Rate: 8.89%

Six unit Multi-family property with 9 detached garage bays. Property fronts on three streets: Main St., Kenyon St. which is a dead-end, and Youngs Ave. Property has been well maintained with on-going updates. Currently oil is used to fuel two heating systems while Natural Gas is available and a lateral runs into the property. Tenants pay electric, Landlord pays for 4 of the 6 units hot water, sewer, taxes and insurance. Unit 1 tenants pay for fuel (oil) and Unit 6 pays electric heat as well. Building consists of 3 - 1 bedroom und 3 - 2 bedroom units. All tenants are on leases. Unit 1 & 2 have private entrances. 7 garages are located behind 1055 Main St and 2 are located on Youngs Ave. No utilities service the garages. Sewer assessment is paid in full. Roof on the 6 unit was replaced in 2019. Building is fire alarmed and inspected semi-annually. The property is connected to municipal water & sewer with no assessments outstanding. Unit 2 was renovated this year. Unit 1's kitchen was updated in 2020. Range in Unit 3 does not convey. Units 1 and 3 have laundry hookups. A laundromat facility is conveniently located 1/4 mile away on Main St. Three lots convey in Plat 4, lots 85, 163, & 294. This is a 1031 exchange.

Six unit Multi-family property with 9 detached garage bays. Property fronts on three streets: Main St., Kenyon St. which is a dead-end, and Youngs Ave. Property has been well maintained with on-going updates. Currently oil is used to fuel two heating systems while Natural Gas is available and a lateral runs into the property. Tenants pay electric, Landlord pays for 4 of the 6 units hot water, sewer, taxes and insurance. Unit 1 tenants pay for fuel (oil) and Unit 6 pays electric heat as well. Building consists of 3 - 1 bedroom und 3 - 2 bedroom units. All tenants are on leases. Unit 1 & 2 have private entrances. 7 garages are located behind 1055 Main St and 2 are located on Youngs Ave. No utilities service the garages. Sewer assessment is paid in full. Roof on the 6 unit was replaced in 2019. Building is fire alarmed and inspected semi-annually. The property is connected to municipal water & sewer with no assessments outstanding. Unit 2 was renovated this year. Unit 1's kitchen was updated in 2020. Range in Unit 3 does not convey. Units 1 and 3 have laundry hookups. A laundromat facility is conveniently located 1/4 mile away on Main St. Three lots convey in Plat 4, lots 85, 163, & 294. This is a 1031 exchange.

View Details
View Details

1055 Main Street, West Warwick, RI

4,632 SF$699,000
Cap Rate: 8.89%

Six unit Multi-family property with 9 detached garage bays. Property fronts on three streets: Main St., Kenyon St. which is a dead-end, and Youngs Ave. Property has been well maintained with on-going updates. Currently oil is used to fuel two heating systems while Natural Gas is available and a lateral runs into the property. Tenants pay electric, Landlord pays for 4 of the 6 units hot water, sewer, taxes and insurance. Unit 1 tenants pay for fuel (oil) and Unit 6 pays electric heat as well. Building consists of 3 - 1 bedroom und 3 - 2 bedroom units. All tenants are on leases. Unit 1 & 2 have private entrances. 7 garages are located behind 1055 Main St and 2 are located on Youngs Ave. No utilities service the garages. Sewer assessment is paid in full. Roof on the 6 unit was replaced in 2019. Building is fire alarmed and inspected semi-annually. The property is connected to municipal water & sewer with no assessments outstanding. Unit 2 was renovated this year. Unit 1's kitchen was updated in 2020. Range in Unit 3 does not convey. Units 1 and 3 have laundry hookups. A laundromat facility is conveniently located 1/4 mile away on Main St. Three lots convey in Plat 4, lots 85, 163, & 294. This is a 1031 exchange.

Six unit Multi-family property with 9 detached garage bays. Property fronts on three streets: Main St., Kenyon St. which is a dead-end, and Youngs Ave. Property has been well maintained with on-going updates. Currently oil is used to fuel two heating systems while Natural Gas is available and a lateral runs into the property. Tenants pay electric, Landlord pays for 4 of the 6 units hot water, sewer, taxes and insurance. Unit 1 tenants pay for fuel (oil) and Unit 6 pays electric heat as well. Building consists of 3 - 1 bedroom und 3 - 2 bedroom units. All tenants are on leases. Unit 1 & 2 have private entrances. 7 garages are located behind 1055 Main St and 2 are located on Youngs Ave. No utilities service the garages. Sewer assessment is paid in full. Roof on the 6 unit was replaced in 2019. Building is fire alarmed and inspected semi-annually. The property is connected to municipal water & sewer with no assessments outstanding. Unit 2 was renovated this year. Unit 1's kitchen was updated in 2020. Range in Unit 3 does not convey. Units 1 and 3 have laundry hookups. A laundromat facility is conveniently located 1/4 mile away on Main St. Three lots convey in Plat 4, lots 85, 163, & 294. This is a 1031 exchange.

View Details
View Details

Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

CIE

Source: East Coast CPN

More Information

©Copyright 2001-2021 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither East Coast CPN nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.

Commercial Exchange is a national commercial real estate marketplace powered by Catylist.