28 Young Street Newport

$1,410,000
6 3 2,828 sq ft

The 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.

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Listing Details

MLS Number

1395235

Lot Size:

0.08 acres

Features

  • Basement: Full, Bulkhead, Unfinished, Utility
  • Bus
  • Hospital
  • Marina
  • Private School
  • Public School
  • Recreational Facilities
  • Restaurants
  • Schools
  • Shopping
  • Near Swimming
  • Tennis
  • Balcony
  • Heating: Natural Gas, Baseboard
  • Heating Fuel: Natural Gas, Baseboard
  • Garage: 1
  • Laundry
  • Local Historic District
  • Sidewalks
  • Year Built: 1885
  • Water Amenities: Walk to Salt Water, Walk To Water

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Listed by Hogan Associates Christie's

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