$1,549,000

About this home

Secure a great opportunity for year-round cash flow investment with this turnkey multi-family property in the heart of downtown Newport. The residence features a spacious three-bedroom, 1 bathroom layout on the first floor alongside a sprawling five-bedroom, 2 bathroom upper unit that spans two levels with multiple living spaces, including a third floor kitchenette and private deck. The heavy lifting is already done, showcasing recent cosmetic upgrades to include new quartz countertops, kitchen appliances, freshly painted interiors, and refinished/new floors. Big-ticket expenditures are also covered thanks to a three-year-old roof, newer gas heating systems, and a completely updated electrical system. Historically maintaining a near-zero vacancy rate, this property offers strong year-round rental income that easily attracts steady tenants. Separate utilities for each unit guarantee low overhead and a streamlined management experience for the next landlord or owner-occupant. This versatile property presents endless possibilities as a high-performing investment property, seasonal rental opportunity, multi-generational residence, or a combination of personal use and rental income. Situated moments from Newport's vibrant waterfront and downtown attractions, this is a rare opportunity to acquire an updated asset in a sought-after coastal community. *More Photo's Coming*

Property facts

Property type

Multi Family

Year built

1890

Lot size (acres)

0.04

Total rooms

14

Garage spaces

0

Total parking

0

Annual taxes

$8,638

Tax year

2025

Neighborhood

Downtown

County

Newport

Features

Heating

Natural Gas, Forced Water, Gas Connected

Cooling

Other

Basement

Full, Interior Only, Unfinished, Laundry, Storage Space, Utility

Appliances

Dishwasher, Dryer, Microwave, Oven, Range, Refrigerator, Washer, Gas Water Heater

Interior

Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed)

Fireplace

None

Laundry

In Building

Parking

No Garage

Construction

Dry Wall, Plaster, Shingles, Wood

Utilities

Sewer Connected, Water Connected

Water

Individual Meter

Waterfront

Walk to Salt Water

Community

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

Exterior

Deck

Lot

Sidewalks

Location