Sold
Last Sold Price
6 beds4,462 sqft$110/sqft
8 Spring St, Westerly, RI 02891
Multi FamilyProperty Type
0.39 acresLot Size
1900Year Built
$110/sq ftPrice per sq ft
8 carsParking Spaces

Description

Investment Property! Front Building is four units and the back building is 2 units with garage style bays. Fully occupied with month to month tenants. Turn of the Century Building A has two 1 bedroom apartments on the 1st floor (1st floor right has Stackable washer/dryer), the second floor apartment is spacious with two bedrooms, formal dining room, kitchen, pantry with washer/dryer hookup, living room and den. The third floor has two bedrooms, living room, den and kitchen. The back building 1st...Investment Property! Front Building is four units and the back building is 2 units with garage style bays. Fully occupied with month to month tenants. Turn of the Century Building A has two 1 bedroom apartments on the 1st floor (1st floor right has Stackable washer/dryer), the second floor apartment is spacious with two bedrooms, formal dining room, kitchen, pantry with washer/dryer hookup, living room and den. The third floor has two bedrooms, living room, den and kitchen. The back building 1st floor is a two room apartment with great covered front porch open living area, kitchen and full bath. The second floor of the back building has two bedrooms, living room, kitchen, washer/dryer hookup. Property generates over $40k in yearly income. Rents are currently below market. With some TLC and updates you could get much higher rental amounts. Front building has 4 Family Fire Detection System connected to the fire department and is inspected yearly per code. All tenants pay their own heat and electric. The utilities are a combination of natural gas and electric. 6 unit buildings will require commercial loans and most likely 25% down. Front building has windows, roofing and siding replaced approx. 14 years ago. The rear building roofing was replaced in 2020. Convenient location walk to downtown, schools and shopping.
Listing closed: 07/19/2021 12:00 AM • Source: Rhode Island Association of REALTORS®, MLS#: 1284625

Recent comparable sales

Median sold price

$550,000

Avg days on market

12

Sale-to-list ratio

98.6%

Westerly, RI

9 comparable properties found

$600,000 | 2 Gravity Court, Westerly, RI 02891
1/13
1

$600,000

Sold 03/20/26

6
Bedrooms
4,154
Square Feet
0.11
Acres
$535,000 | 22 Pleasant Street, Westerly, RI 02891
1/25
2

$535,000

Sold 05/23/25

6
Bedrooms
3,263
Square Feet
0.13
Acres
$525,000 | 14 George Street, Westerly, RI 02891
1/28
3

$525,000

Sold 05/26/26

5
Bedrooms
5,091
Square Feet
0.21
Acres
$415,000 | 84 Pierce Street, Westerly, RI 02891
1/34
4

$415,000

Sold 06/13/25

6
Bedrooms
2,590
Square Feet
0.14
Acres
$450,000 | 81 Old Hopkinton Road, Westerly, RI 02891
1/35
5

$450,000

Sold 12/20/24

5
Bedrooms
4,806
Square Feet
0.75
Acres
$550,000 | 18 Summer Street, Westerly, RI 02891
1/31
6

$550,000

Sold 08/28/25

7
Bedrooms
5,167
Square Feet
0.13
Acres
$600,000 | 4 Pearl Street, Westerly, RI 02891
1/51
7

$600,000

Sold 12/12/25

8
Bedrooms
3,852
Square Feet
0.37
Acres
$635,000 | 7 Dixon Street, Westerly, RI 02891
1/2
8

$635,000

Sold 05/21/26

7
Bedrooms
3,849
Square Feet
0.18
Acres
$600,000 | 12 Batterson Avenue, Westerly, RI 02891
1/48
9

$600,000

Sold 05/14/26

5
Bedrooms
3,520
Square Feet
0.21
Acres

Amenities

  • Attached Garage
  • Baseboard Heating
  • Basement
  • Carpet Floors
  • Ceramic Floors
  • Dryer
  • Electric Heat
  • Electric Oven

Location

Sold By RE/MAX South County

Add your commute

Payment Calculator

$2,938 per month

30 year fixed, 6.71% Interest

Principal and Interest

$2,532

Property Taxes

$406

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 8 Spring Street

Property Details
  • Taxes: $4,869 / year
  • MLS Type: Residential Income / Multi Family
Building Information
  • Residences: 4
  • Year Built: 1900
  • Lot Size: 0.39 AC / 16,890 SF
Summary
Location and General Information
  • City: Westerly
  • Community Features: Near Schools, Public Transportation
  • Postal City: Westerly
  • Postal Code: 02891
  • Postal Code Plus4: 2344
  • State Or Province: RI
  • Zoning: R6
  • Human Modified Y N: No
Parking
  • Attached Garage Y N: Yes
  • Garage Y N: No
  • Parking Features: Attached, Garage
  • Parking Total: 8
Taxes and HOA Information
  • Tax Annual Amount: $4,869.17
  • Tax Assessed Value: 410900
  • Tax Block: 42
  • Tax Lot: 42
  • Tax Year: 2020
Virtual Tour
Property
Lot Information
  • Above Grade Fin SQFT: 4462.0
  • Building Area Total: 4462.0
  • Living Area Source: Public Records
  • Lot Size Acres: 0.3877
  • Lot Size Area: 16890.0
  • Lot Size Square Feet: 16890.0
  • Lot Size Units: Square Feet
  • Number Of Buildings: 2
  • Parcel Number: 8SPRINGSTWEST
Property and Assessments
  • Buyer Financing: Cash
  • New Construction Y N: No
  • Number Of Units Total: 4
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Senior Community Y N: No
  • Year Built: 1900
  • C L I P: 1,192,073,968
Utilities
  • Electric: Amps100
  • Sewer: Connected
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Connected, Public
Interior and Exterior Features
Exterior Features
  • Foundation Details: Brick Mortar, Concrete Perimeter, Stone
  • Security Features: Security System Owned
Interior Features
  • Appliances: Dryer, Gas Water Heater, Oven, Range, Refrigerator, Washer
  • Basement: Full, Interior Entry, Unfinished
  • Basement Y N: Yes
  • Bathrooms Full: 4
  • Bathrooms Total Integer: 4
  • Bedrooms Total: 6
  • Cooling: None
  • Cooling Y N: No
  • Fireplace Features: None
  • Fireplace Y N: No
  • Flooring: Carpet, Ceramic Tile, Hardwood, Laminate, Vinyl
  • Heating: Baseboard, Electric, Forced Air, Gas, Hot Water
  • Heating Y N: Yes
  • Interior Features: Tub Shower
  • Laundry Features: In Unit
  • Rooms Total: 17
Multi Family
Income & Expenses Information
  • Operating Expense: $14,054.17
Unit 1 Information
  • Actual Rent: $750.00
  • Unit Type Area: 0.0
  • Baths Total: 1
  • Beds Total: 2
  • Num of Full Baths: 1
Unit 2 Information
  • Actual Rent: $900.00
  • Unit Type Area: 0.0
  • Baths Total: 1
  • Beds Total: 2
  • Num of Full Baths: 1
Unit 3 Information
  • Actual Rent: $730.00
  • Unit Type Area: 0.0
  • Baths Total: 1
  • Beds Total: 1
  • Num of Full Baths: 1
Unit 4 Information
  • Actual Rent: $670.00
  • Unit Type Area: 0.0
  • Baths Total: 1
  • Beds Total: 1
  • Num of Full Baths: 1
Rental
Rental Information
  • Lease Amount Per Area Unit: Dollars Per Square Foot
  • Land Lease Y N: No
  • Tenant Pays: Hot Water

Property History for 8 Spring Street

DateEvent & SourcePriceAppreciation
Jul 19, 2021

Sold

Rhode Island Association of REALTORS® #1284625

$490,000
Jun 7, 2021

Contract Signed

Rhode Island Association of REALTORS® #1284625

Jun 4, 2021

Permanently Off Market

Rhode Island Association of REALTORS® #1284540

DateEvent & SourcePrice
07/19/2021

Sold

Rhode Island Association of REALTORS® #1284625

$490,000
06/07/2021

Contract Signed

Rhode Island Association of REALTORS® #1284625

06/04/2021

Permanently Off Market

Rhode Island Association of REALTORS® #1284540

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 8 Spring Street

This home is within Westerly School District.
Rating
School
Type
Grades
Distance
Public - K to 4
Public - 5 to 8
Public - 9 to 12
Public - K to 4
Rating
School
Distance
State Street School
PublicK to 4

Westerly Middle School
Public5 to 8

Westerly High School
Public9 to 12

Springbrook Elementary School
PublicK to 4

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 8 Spring Street, Westerly, RI 02891
$490,000
6
4,462
16,890
$435,000
16,890
$297,000
3
2,713
11,227
3
2,484
10,792
$319,000
3
1,375
11,326
$25,000
4,279

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: Rhode Island Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Rhode Island Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.