Prime downtown Newport three-family ideally located between Spring and Thames Street, just steps from the waterfront, dining, and shops. Strong rental history & income growth potential. Young Street is one of the few two-way streets in this downtown neighborhood, offering added convenience for tenants. Each of the three units offers 2 bedrooms and 1 bath, with all floors currently leased, for immediate cash flow. The building has a proven rental history with current rents well below market value. This would be a perfect seasonal rental which would maximize the rental return on investment. Seperate utilites for all units including furnaces. New hard-wired smoke alarm system being installed. Off-street parking for 3 cars plus a 2+ car garage. Garage is definite ADU possibility. Close proximity to Salve Regina the harbor, and downtown attractions make this an attractive year-round or seasonal rental option. Rarely does a three-family in this location, with this level of upside potential, come to market.
Date | Event | Price | $/Sqft | Source |
---|---|---|---|---|
Listed For Sale | $1,420,000 | $502 | Hogan Associates Christie's |
Year | Annual Amount | Description |
---|---|---|
2025 | $6,473 |
Elementary School Carey School | 0.5 miles away | KG - 05 | |
Middle School Frank E. Thompson Middle School | 0.7 miles away | 06 - 08 | |
Elementary School Cranston - Calvert School | 0.9 miles away | KG - 05 |