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28 Young Street, Newport, RI 02840

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For Sale
Sale Pending

$1,420,000

6 beds • 3 baths • 2,828 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $502.12
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

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.
MLS# 1395235

Courtesy Of Hogan Associates | Christie's International Real Estate

(401) 845-9500

Property Features

  • Age
    Over 50 Years Old
  • Appliances
    Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
  • Architecture Style
    Other
  • Floor Covering
    Carpet, Vinyl
  • Heating System
    Baseboard
  • Lot Size
    0.08 Acres

Map and Directions

Directions to 28 Young Street, Newport, RI 02840

Home seller CENTURY 21 Topsail Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Topsail Realty

(401) 683-4900
Learn More About Us

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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.