OFFERS DUE TUESDAY 4/30 BY 11 PM. Rare 8-unit apartment building. 7 one bedroom apartments and 1 studio. This asset produces over $105,000 in gross income annually yielding an NOI of approximately $60,000. Several of the apartments have been renovated in the last few years. A brand new high efficiency heating system with indirect hot water tank was installed within past 6 years servicing all apartments with heat and hot water which is included in tenant rent. Tenants only pay their own electricity. Off-street parking for 8 cars, fully fire coded, fully occupied make this the perfect turn-key investment property!
Property Details
Property Features
Property Information:
Year Built: 1900
Listing Office:
Office Name: Premier Properties RI
Office Phone: (401) 236-6008
Interior Features
Interior Information:
Appliances: Gas Water Heater, Water Heater
Basement: No
Flooring Type: Ceramic Tile, Hardwood, Laminate
Interior: Tub Shower
Bedroom and Bathroom Information:
Full Bathrooms: 8
Total Bedroom Count: 8
Exterior Features
Parking Information:
Parking: No Garage
Lot Features
Lot Information:
Lot Size: 0.11 Acres
Utilities
Utilities Information:
Heating: Baseboard, Natural Gas
Cooling: None
Price Information
Listing Price Info
Price Summary:
List Price: $699,999
HOA Fees:
Amount: $0
Frequency: Annually
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in West Warwick, RI.
We're sorry, we currently don't have sales or tax history data for this listing.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$3,561
Per Month
Principal & Interest
$3,494
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$2,165
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
5
/10
John F. Horgan School
124 Providence St
Distance between this listing and this school0.96 miles
Public District Grades KG-4
4
/10
Blackrock School
12 La Casa Dr
Distance between this listing and this school1.43 miles
Public District Grades PK-5
4
/10
Wakefield Hills Elementary School
505 Wakefield St
Distance between this listing and this school1.84 miles
Public District Grades PK-4
Nearby Schools
3
/10
John F. Deering Middle School
2 Webster Knight Dr
Distance between this listing and this school0.69 miles
Public District Grades 5-8
7
/10
Alan Shawn Feinstein Middle School of Cov
15 Foster Dr
Distance between this listing and this school1.73 miles
Public District Grades 6-8
3
/10
Winman Junior High School
575 Centerville Rd
Distance between this listing and this school2.12 miles
Public District Grades 7-8
Nearby Schools
4
/10
West Warwick High School
1 Webster Knight Dr
Distance between this listing and this school0.71 miles
Public District Grades 9-12
5
/10
Toll Gate High School
575 Centerville Rd
Distance between this listing and this school2.12 miles
Public District Grades 9-12
7
/10
Coventry High School
40 Reservoir Rd
Distance between this listing and this school3.50 miles
The neighbors living near this home have an average income of $22,626. The most common annual income of people living in West Warwick, RI is less than $35k. Most families are single, no kids. Most residents in this area have high school diploma education.
This home is located at 145 Archambault Ave in West Warwick, RI and zip code 02893. This home, which was built in 1900, sits on a 0.11 acre lot. Features: 8 bedrooms, 8 bathrooms. It has been listed on Rocket Homes since April 23, 2024 and is currently priced at $699,999.
While more than 15 listings in West Warwick, RI in April 2024 were sold above asking price, there were more than 6 listings sold at asking price, and more than 4 were sold below. Between March 2024 and April 2024, West Warwick, RI real estate market has seen increase in the number of listings by 17.3%. The median list price of listings available in April 2024 was $358,500, while the average time on the real estate market was 36 days.
From Rocket Homes Real Estate and based on county public records data.