$7,800,000
$7,500,000
4.0%For more information regarding the value of a property, please contact us for a free consultation.
20 Oakland Beach Avenue AVE Warwick, RI 02889
39,612 SqFt
Key Details
Sold Price $7,800,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 39,612 sqft
Price per Sqft $196
MLS Listing ID 1370933
Sold Date 01/24/25
HOA Y/N No
Abv Grd Liv Area 39,612
Year Built 1960
Annual Tax Amount $54,196
Tax Year 2024
Lot Size 2.680 Acres
Property Sub-Type Commercial
Property Description
The Oakland & Lake Estates multi-family investment portfolio is located at 35 & 50 Lake Street and 20 Oakland Beach Avenue
in Warwick, RI. The Portfolio is a well maintained, stabilized asset in a growing, high demand real estate market that offers
additional upside. The Portfolio is comprised of four multi-family buildings and contains forty-five residential units: two Studio
units, four 1-Bed/1-Bath units, and thirty-nine 2-Bed/1-Bath units. Within the past three years, 31 units have been renovated,
exteriors and interiors of the properties have been painted, hallway carpets have been replaced, and new high efficiency gas
heating systems have been installed. The opportunity exists to drive rental rates through programmatic upgrades and
renovations to the kitchens and bathrooms in the unrenovated units, allowing the incoming owner to maximize rents in a
supply constrained market.
Location
State RI
County Kent
Exterior
Street Surface Asphalt
Total Parking Spaces 80
Building
Sewer Public Sewer
Structure Type Brick
New Construction No
Others
Tax ID 20OAKLANDBEACHAVENUEAVWARW
Financing Conventional
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