1051 - 1055 Main ST, West Warwick, Rhode Island 02893

$575,000
List Price
$575,000
MLS#
1214580
Status
ACTIVE
Type
Commercial
City
West Warwick
County
Kent
Neighborhood
Riverpoint
Year Built
1860
Acres
0.443
Lot Size SqFt
19,293

Property Description

100% occupied. Current Annual Rental income $79,800. 8.9% Cap. 6 unit & 7 garages. 3 parcels included in sale. Plat 4, lots 163, 294,and 85. Lot 163 is 1055 Main Street consisting of a legal 6 unit renovated in the 1980's. Lot 294 is 9 Youngs Ave and has a 7 bay garage. Lot 85 is also 9 Youngs Ave and has a stand alone 2 bay garage. 1055 Main Street is well maintained. Garages are separate with no water or electricity. 6 Unit has been well maintained. Two heating systems and natural gas is available to convert. Tenants pay electric and landlord pays heat for 4 units. Building consists of 3-1 bedroom units and 3-2 bedroom units. All tenants are on leases. Landlord utilizes 2 garage bays while the other 7 are leased month to month. Sewer assessment is paid in full, roof on the six unit has been replaced in 2019. Building is fire alarmed and inspected annually. 1055 Main is zoned business, 9 Youngs is zoned R-8.

Additional Information

Community Features
Bus, Hospital, Shopping
Sub Type
Commercial
Heat System
Baseboard, Central Heat, Other Heat, Steam
Sewer
Connected
Water
Connected
Foundation Type
Stone
Parking Spaces
8
Heat System
Baseboard, Central Heat, Other Heat, Steam
Sewer
Connected
Tax Year
2018
Basement Type
Partial
Taxes
$11,320
Community Features
Corner, Sidewalks

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Calculator source: Real Geeks

Listing courtesy of Keller Williams Realty.

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