32 Dearborn Street Newport

4 4 3,239 sq ft

The Property

Currently zoned as a 5-Unit residential property but building layout easily lends itself to combine units to three or four larger units if desired. Detached two car garage and additional parking all located in the desirable downtown Yachting Village. All units are rented with yearly leases and one that is month-to-month. Four units are 1 bedroom/1 bath and the full third/top floor is a 3 bedroom/1 bath with skylights.

Unit 5 which is the top floor is furnished and lends itself to seasonal rentals and the potential to expand water/bridge views. Exceptionally well maintained property with great curb appeal, newer roof & driveway, paved overflow parking, updated electrical, vinyl replacement windows, and brand new hot water heater. Fire Code compliant. Many original interior details abound from the gorgeous hardwood floors, glass doors, cast iron radiators, and molding. Nice division and privacy between all units with a center staircase as well as two side staircases. Some of the units have been refurbished, remodeled, and/or painted. Strong financials and rental history with growth potential. Total monthly gross rent is $7,791. Heat (gas) and water/sewer are included in the rents. Common coin-op laundry available on the first level. Laundry brings in about $2,000/year.

Located only one block from the harbor and in close walking proximity to all that Newport has to offer. This multi-family is turnkey.

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Listing Details

MLS Number


Lot Size:

0.12 acres


  • Basement: Full
  • Insulated Glass Windows
  • Shingles
  • Wood
  • Heating: Baseboard, Forced Water, Zoned
  • Heating Fuel: Gas
  • Garage: Detached, Door Opener
  • Laundry
  • Fenced
  • Paved Driveway
  • Sidewalks
  • Waterview
  • Type: Apartment
  • Year Built: 1900
  • Water Amenities: Walk to Salt Water, Walk To Water

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