$1,410,000
$1,420,000
0.7%For more information regarding the value of a property, please contact us for a free consultation.
28 Young ST Newport, RI 02840
6 Beds
3 Baths
2,828 SqFt
Key Details
Sold Price $1,410,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,828 sqft
Price per Sqft $498
Subdivision Thames Spring
MLS Listing ID 1395235
Sold Date 12/30/25
Bedrooms 6
Full Baths 3
HOA Y/N No
Abv Grd Liv Area 2,828
Year Built 1885
Annual Tax Amount $6,472
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
Financing Cash
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Bought with Lila Delman Compass
