Investment Overview

Marcus & Millichap is pleased to exclusively present for sale the multifamily property located at 1089 Main Street in Coventry, Rhode Island. Comprised of six units, each with one bed and one bathroom, averaging 500 square feet per unit for a total of 3,000 square feet. The multifamily asset was constructed in 1828 on a 0.45-acre lot, which is located less than a mile from the city’s historic downtown area. With ample frontage on Main Street, the property is located near several national retailers and surrounded by local businesses. Coventry, Rhode Island, located in Kent County, is the largest town in Rhode Island by area. Combining the charm of rural New England with the convenience of suburban living, Coventry is situated just 20 miles southwest of Providence. Its blend of historical landmarks, outdoor recreation, and community-focused development makes Coventry a desirable place for both living and investment. 1089 Main Street is in a quaint suburban area with tree-lined streets, known for its safe and welcoming environment. This neighborhood is serviced by the Rhode Island Public Transit Authority, which operates bus routes connecting Coventry to nearby cities and towns, providing convenient access to major hubs and shopping areas. The median household income in Coventry is between $80,000 and $90,000 annually, reflecting a stable middle-income community. With a population of about 35,000 residents, population growth in Coventry has been relatively stable, showing consistent but modest increases as families are attracted to suburban living with proximity to urban centers. In recent years, Coventry has experienced a significant rise in rental prices, driven by demand for housing, economic conditions, and the broader housing market dynamics within Rhode Island. Rent growth varies by neighborhood and housing type, with multifamily units generally seeing higher demand. Within walking distance of the property, Downtown Coventry is filled with various shops, cafes, and restaurants that immerse visitors in the area’s charming small-town vibe. These businesses offer unique products and services to support the local economy, while the town’s frequent community events and festivals foster community engagement. The city is also home to several historical and cultural sites, such as the General Nathanael Greene Homestead, one of the town’s most notable attractions. Outdoor enthusiasts can enjoy the extensive trails and natural beauty of the Coventry Greenway and Trestle Trail, part of the larger East Coast Greenway, which provides scenic paths for walking, biking, and jogging.