Discover an exceptional investment or owner-occupied opportunity in West Warwick. This well-maintained, large multi-family property features four spacious units, including three 2-bedroom units and one 3-bedroom unit. Situated on a generous corner lot along a quiet street, each unit boasts its own gas heating system, individual electric panel and meter, and hot water tank. Two units have been updated with the convenience of central air. Shared coin-operated laundry facilities are located in the basement, while the owner's unit features the added convenience of in-unit washer and dryer. The fire alarms have been upgraded to meet current building codes. Ample off-street parking is available for all tenants. Rents are currently below market rates, with tenants responsible for their own utilities. The property features two detached garages, including a 1-bay garage and an insulated 3-bay garage with a 16' ceiling, offering potential for additional income or a haven for car or gym enthusiasts. Tenants are in place, with a solid rental history and current month-to-month leases. The owner currently occupies one unit. Please note, no interior photos of Unit 3 are available at this time. Don't miss this rare opportunity to acquire a well-maintained multi-family property with strong income potential. Live in one unit while collecting rental income from the remaining three.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $479,840 | $479,840 | $479,840 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.375% | 6.125% | 4.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.512% | 6.273% | 5.248% |
Monthly Tax Payment | $645 | $645 | $645 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $2,994 | $2,916 | $3,792 |
Total Monthly Payment | $3,730 | $3,652 | $4,528 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.