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Roults Jean-Francois

jeanfrancoisgroupmgt@gmail.com +1(401) 316-9458

$ 1,675,000

Est. payment -/mo

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Price Dropped by $101K

13 Dean AVE Newport, RI 02840

5 Beds

5 Baths

2,448 SqFt

UPDATED:

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

HOA Y/N No

Abv Grd Liv Area 2,448

Year Built 1900

Annual Tax Amount $5,678

Tax Year 2025

Lot Size 4,094 Sqft

Acres 0.094

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

Rooms

Basement Exterior Entry, Full, Interior Entry, Unfinished

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)

Fireplace No

Window Features Thermal Windows

Appliance Dryer, Water Heater, Washer

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

Porch Deck

Total Parking Spaces 9

Garage No

Building

Foundation Stone

Sewer Connected

Water Connected, Multiple Meters

Structure Type Plaster,Clapboard,Wood Siding

New Construction No

Others

Senior Community No

Tax ID 13DEANAVNEWP

Virtual Tour https://tour.RiLiving.com/13-Dean-Avenue-Newport-RI-02840

Listed by Smith and Oak Real Estate Co.

Roults Jean-Francois

Agent | res.res.0042995

+1(401) 316-9458

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