13 Dean AVE Active Save Request In-Person Tour Request Virtual Tour
Newport,RI 02840
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,448 sqft
Price per Sqft $684
Subdivision Yachting Village
MLS Listing ID 1389865
Bedrooms 5
Full Baths 3
Half Baths 2
Year Built 1900
Annual Tax Amount $5,678
Tax Year 2025
Lot Size 4,094 Sqft
Property Sub-Type Multi Family
Property Description
DO NOT WALK PROPERTY OR DISTURB OCCUPANTS Sold furnished* MAJOR PRICE CUT OF $101,000 -- Fully restored 3 unit on oversized lot (25% building cov.) in the heart of Newport's Historic Yachting Village! Located steps to Thames Street and all Newport has to offer, this is a tremendous investment or owner occupant opportunity offering as high as a 8.2% Cap Rate--a stellar return for the area, and up to 9 PARKING SPACES. The entire home has been renovated and restored from the roof to the Premium Andersen Replacement Windows with transferrable warranty. The home features three large units, (2) 2 BR/ 1.5 BA, and (1) 1BR/ 1 BA, all currently rented. Units feature hardwood flooring, premium bathrooms and kitchens completely updated and remodeled. Each unit has its own energy efficient ductless heating and cooling system, and is also connected to gas, water, sewer. The roof is young, and was stripped and replaced in 16 with transferrable warranties. The oversized lot presents a great opportunity to add a garage with lofted unit or living space (ADU) above. With only 25% of building coverage, there is ample room to add this additional dwelling without sacrificing valuable parking for you or your tenants. Each unit comes w/ new dedicated Maytag washer/dryers. Ductless split systems are raised for protection against the elements. Tremendous rental history seasonally, annually, or occupy the third unit and utilize owner occupant short-term rental ability. Buyer to conduct due diligence.
Location
State RI
County Newport
Community Yachting Village
Zoning R10
Interior
Heating Ductless,Electric,Gas,Heat Pump
Cooling Ductless
Flooring Hardwood
Fireplaces Type None
Inclusions Owner is responsible for gas bill and common area electric bill. Tenants pay Electric , and each unit pays 1/3 of the water bill. Each unit has dedicated Maytag washer and dryer in basement. Each tenant gets 2 parking spaces. Seller rents out each unit on yearly leases and receives a significant tax incentive. 2024 TAX BILL= $3694.43... SOLD FURNISHED EXCLUDING SOME TENANT ITEMS (COUCH IN 3RD UNIT LIVING ROOM)
Laundry Common Area
Exterior
Exterior Feature Deck,Paved Driveway
Fence Fenced
Community Features Golf,Highway Access,Marina,Near Hospital,Near Schools,Public Transportation,Recreation Area,Restaurant,Shopping,Tennis Court(s)
Utilities Available Sewer Connected
Waterfront Description Walk to Water
Building
Foundation Stone
Sewer Connected
Water Connected,Multiple Meters
Structure Type Plaster,Clapboard,Wood Siding
New Construction No
Others
Virtual Tour https://tour.RiLiving.com/13-Dean-Avenue-Newport-RI-02840