$1,095,000

About this home

Well-maintained five-unit multifamily property, zoned commercial, consisting of two separate buildings. The main building at 2803 East Main Road has 3323 sq ft of living space containing four one-bedroom apartments, while the second 959 sq ft building at 2801 East Main Road is a separate two-bedroom residence. The separate buildings provide flexibility for investors as well as owner-occupants. Each unit has its own individual heating and hot water system, with tenants responsible for most utilities. Current rents are below market, providing an opportunity to increase rental income through future rent adjustments. Ample parking is also available. The existing five-unit configuration, separate buildings, individual systems, and established rental income provide a solid foundation for an investor looking to add to a multifamily portfolio or an owner-occupant seeking rental income from the additional units.

Property facts

Property type

Multi Family

Year built

1887

Lot size (acres)

0.3

Total rooms

11

Garage spaces

0

Total parking

6

Annual taxes

$7,164.07

Tax year

2025

County

Newport

Features

Heating

Electric, Natural Gas, Baseboard, Forced Air

Cooling

Window Unit(s)

Basement

Full, Bulkhead, Unfinished, Laundry, Storage Space, Utility

Appliances

Dryer, Range Hood, Oven, Range, Refrigerator, Washer, Electric Water Heater, Gas Water Heater, Tankless Water Heater

Interior

Wall (Dry Wall), Cathedral Ceilings, Stairs, Plumbing (Mixed), Insulation (Ceiling), Insulation (Floors), Insulation (Walls)

Fireplace

Wood Frame

Laundry

Common Area, In Building

Parking

No Garage

Construction

Dry Wall, Other Siding, Vinyl Siding

Utilities

Water Connected

Sewer

Septic Tank

Community

Bus, Commuter Bus, Golf, Highway Access, Interstate, Marina, Private School, Public School, Recreational Facilities, Restaurants, Schools, Shopping, Near Swimming, Tennis

Lot

Paved Driveway, Paved

Location