$999,000

About this home

Welcome to 220 Washington Street, a six-unit multifamily property offering an attractive opportunity for investors seeking reliable cash flow. Featuring a desirable mix of one-, two-, and three-bedroom apartments, the current monthly rents total $9,060, providing $108,720 in scheduled gross annual rental income. All tenants are on month to month leases with excellent payment history. Some rents are below market, giving the buyer immediate value-add potential. Two fully renovated apartments feature dishwashers, microwaves, and in-unit laundry, while four classic apartments have had some updates and enjoy access to a shared coin-operated washer and dryer, offering added convenience for tenants and potential supplemental income. Tenants pay their own electricity, while gas is paid by the owner. Within the last five years a full roof replacement was performed, new electrical service and panels installed, and new AO Smith water heater installed. The modern Buderus cast iron gas boiler was professionally serviced prior to this heating season, ensuring reliability. Conveniently located with access to local shopping, dining, services, and major commuting routes, 220 Washington offers the potential to build on existing income while exploring future value-add opportunities. Don't miss this opportunity to own a solid six-unit multifamily property in the desirable Arctic village of West Warwick! For additional information see mls#1426001.

Property facts

Property type

Multi Family

Year built

1900

Lot size (acres)

0.11

Total rooms

19

Garage spaces

0

Total parking

8

Annual taxes

$11,597

Tax year

2025

County

Kent

Features

Heating

Natural Gas, Baseboard, Forced Water, Gas Connected

Cooling

None

Basement

Full, Walkout, Unfinished

Appliances

Gas Water Heater

Interior

Stairs

Laundry

In Building, In Unit

Parking

No Garage

Construction

Aluminum Siding, Vinyl Siding

Utilities

Sewer Connected, Water Connected

Community

Bus, Commuter Bus, Golf, Highway Access, Hospital, Interstate, Private School, Public School, Recreational Facilities, Restaurants, Schools, Shopping

Location