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$ 1,850,000
Est. payment /mo
Active
87 Spring ST Newport, RI 02840
7 Beds
4 Baths
2,906 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,906 sqft
Price per Sqft $636
MLS Listing ID 1401961
Bedrooms 7
Full Baths 4
HOA Y/N No
Abv Grd Liv Area 2,906
Year Built 1898
Annual Tax Amount $10,696
Tax Year 2024
Lot Size 1,568 Sqft
Acres 0.036
Property Sub-Type Multi Family
Property Description
Exceptional investment property in the heart of Newport's tourist district. 87 Spring Street is a 4-unit multifamily featuring 3 Fully City Licensed Short Term Rental units and 1 year round tenancy apartment. The licensed short-term rental units are turnkey and ready to continue generating revenue, while the long-term tenant provides reliable baseline income. Profit and Loss statements are available for review; gross projected income for 2025-2026 $203,600. BEING SOLD as a package with 69 Spring Street (MLS #1401952) for $3,950,000. Reach out today to schedule a tour.
Location
State RI
County Newport
Zoning GB
Rooms
Basement Full, Unfinished, Walk-Out Access
Interior
Heating Hot Water, Oil
Cooling Window Unit(s)
Flooring Ceramic Tile, Hardwood, Laminate
Fireplace No
Appliance Oil Water Heater
Laundry In Unit
Exterior
Garage No
Building
Foundation Stone
Sewer Public Sewer
Water Public
Structure Type Plaster
New Construction No
Others
Senior Community No
Tax ID 87SPRINGSTNEWP
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Listed by Kirby & Kirby
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