15 Thompson Street
Warren, RI 02885
- 5 beds
- 5 baths
- 4,220 sqft
- 3,049 sqft lot
- $201 per sqft
- 1900 build
Fantastic turnkey investment opportunity in the heart of beautiful Warren, RI! This well-kept 5-unit apartment building features five 1-bedroom units, each fully applianced and offering individual electric and tenant-paid heat keeping owner expenses low. Located just steps from vibrant downtown, tenants enjoy a true walk-to-everything lifestyle: shops, dining, waterfront parks, and direct access to the East Bay Bike Path. The property is connected to city water and sewer, has durable vinyl siding, and offers both off-street and on-street parking on a quiet dead-end street. Rents are currently well below market value with strong upside potential. In addition, three fully finished bonus rooms on the upper level provide extra value ideal for office space or storage. Whether you're looking to move funds out of the stock market or crypto, or you're ready to stop renting and start building wealth, this asset delivers. Consider using a DSCR loan to qualify based on the building's income and expenses rather than your own. With steady cash flow, appreciation potential, and a prime location in one of Rhode Island's most charming towns, this is a smart addition to any portfolio. Don't miss out on this rare opportunity!
Last checked:
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Last updated Apr 10, 2025
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MLS# 1381527 —
The Building
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Year Built:1900
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New Construction:false
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Building Area Total:4220.0
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Construction Materials:Drywall,VinylSiding
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Structure Type:Apartment
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Foundation Details:ConcretePerimeter
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Stories Total:3
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Basement:Full,Unfinished
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Basement:true
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Patio And Porch Features:Balcony,Deck
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Exterior Features:Balcony,Deck,PavedDriveway
Interior
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Interior Features:StallShower
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Flooring:Carpet,CeramicTile,Laminate
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Fireplace:false
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Fireplace Features:None
Room Dimensions
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Living Area Source:PublicRecords
Location
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Latitude:41.736451
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Longitude:-71.285403
The Property
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Property Type:ResidentialIncome
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Property Subtype:MultiFamily
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Lot Features:CulDeSac
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Lot Size Acres:0.07
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Lot Size Area:3049.0
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Lot Size Square Feet:3049.0
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Lot Size Units:SquareFeet
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Parcel Number:15THOMPSONSTWARN
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Zoning:R6
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Land Lease:false
Listing Agent
- Contact info:
- Agent phone:
- (401) 244-8355
- Office phone:
- (401) 638-0010
Taxes
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Tax Year:2024
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Tax Annual Amount:4629.0
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Tax Assessed Value:320600
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Tax Lot:47
Beds
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Bedrooms Total:5
Baths
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Total Baths:5
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Full Baths:5
The Listing
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Virtual Tour URL Unbranded:https://tour.RiLiving.com/15-Thompson-Street-Warren-RI-02885
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Virtual Tour URL Unbranded 2:https://eastgreenwich.evrealestate.com/en/properties/our-listings/15-Thompson-Warren-RI-02885-StateWideMLS-1381719
Heating & Cooling
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Heating:Baseboard,Gas,HotWater
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Heating:true
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Cooling:None
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Cooling:false
Utilities
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Utilities:SewerConnected
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Electric:Amps100,CircuitBreakers
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Sewer:Connected,PublicSewer
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Water Source:Connected,Public
Appliances
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Appliances:GasWaterHeater,Oven,Range,Refrigerator,WaterHeater
The Community
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Subdivision Name:Downtown Warren
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Senior Community:false
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Community Features:Golf,HighwayAccess,Marina,NearHospital,NearSchools,PublicTransportation,RecreationArea,Restaurant,Shopping,TennisCourts,Sidewalks
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Waterfront Features:WalkToWater
Parking
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Parking Total:4.0
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Parking Features:NoGarage
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Garage:false
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/7/25
Apr 7, 2025
|
Listed / Active | RIMLS | $850,000 |
