$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! Contact us today for additional information and to schedule a showing.
Property details
- MLS
- Rhode Island Association of REALTORS
- MLS #
- 1426001
- Property type
- Commercial
- Subdivision
- Arctic
- Status
- Active
- Days on market
- N/A
- On market date
- October 15, 2026
- Stories
- N/A
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- 8
- Lot size
- 4,792 sqft
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.
- Enrollment
- 481
- Student:teacher ratio
- 14.1:1
- District
- West Warwick
- Enrollment
- 1,087
- Student:teacher ratio
- 12.5:1
- District
- West Warwick
- Enrollment
- 1,044
- Student:teacher ratio
- 13.4:1
- District
- West Warwick
Walkability
Blended score for West Warwick's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in West Warwick, from live MLS data.
Mortgage calculator
Estimate only - actual rate and payment depend on your lender, credit, and loan program.
Adjust tax / insurance estimates
Similar homes you might like
Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated 3 days ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.