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Roults Jean-Francois

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

$ 1,420,000

Est. payment -/mo

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28 Young ST Newport, RI 02840

6 Beds

3 Baths

2,828 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,828 sqft

Price per Sqft $502

Subdivision Thames Spring

MLS Listing ID 1395235

Bedrooms 6

Full Baths 3

HOA Y/N No

Abv Grd Liv Area 2,828

Year Built 1885

Annual Tax Amount $7,827

Tax Year 2025

Lot Size 3,310 Sqft

Acres 0.076

Property Sub-Type Multi Family

Property Description

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.

Location

State RI

County Newport

Community Thames Spring

Zoning R10

Rooms

Basement Full, Unfinished

Interior

Interior Features Stall Shower

Heating Baseboard, Gas

Cooling Window Unit(s)

Flooring Vinyl, Carpet

Fireplaces Type None

Fireplace No

Appliance Dryer, Dishwasher, Electric Water Heater, Microwave, Oven, Range, Refrigerator, Washer

Laundry In Unit

Exterior

Exterior Feature Balcony

Parking Features Detached

Garage Spaces 2.0

Community Features Marina, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s), Sidewalks

Utilities Available Sewer Connected

Waterfront Description Walk to Water

Porch Balcony

Total Parking Spaces 5

Garage Yes

Building

Foundation Combination

Sewer Connected

Water Connected

Structure Type Drywall,Wood Siding

New Construction No

Others

Senior Community No

Tax ID 28YOUNGSTNEWP

Virtual Tour https://tour.RiLiving.com/28-Young-Street-Newport-RI-02840

Listed by Hogan Associates Christie's

Roults Jean-Francois

Agent | res.res.0042995

+1(401) 316-9458

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