Sold

382 Spring Street

Newport RI, 02840

$1,350,000


$414.62 per sqft

Sold

8 Beds

3.5 Baths

3,256 sqft

Multi-family

Built in 1870

Located in the heart of Newport, this property can continue to be the great investment property it has been for generations, or it could become a new family compound. Its present use is 3 residential rental units plus 1 commercial space which houses an active cafe and sandwich shop. At the rear of the property is a separate structure with 5 garage bays. There is plenty of parking on the premises as well as adequate off-street parking out front. Two of the residential units are currently rented - the owners have held off renting the third leaving it for the new owner to decide. Hardwood floors are throughout the building keeping up with the charm of the 1870 built home. Future plans could include an expansion over the garage bays or conversion back to a single-family home. The possibilities for the property are truly endless all while continuing to have great income generating investment potential.

1300327

MLS ID

December 20, 2021

Listed

February 10, 2024

Updated

Map

382 Spring Street
Newport RI, 02840

Interior Features

Total Stories

0


Bedrooms

8 Beds


Bathrooms

3.5 Baths


Appliances

Oven, Oil Water Heater, Range, Refrigerator


Floor Description

Ceramic Tile, Hardwood


Fireplace

Yes


Fireplace Description

None


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Hot Water, Oil

Exterior/Building Features

Lot Size

0.13 Acres


Exterior Features

Paved Driveway


Sewer

Connected

Other Property Details

Taxes

$6,718


Tax Frequency

Annually


Days on Market

165


Garage

Yes


Garage Spaces

5


Parking

Detached, Garage


Parking Total

11


View

Yes


View Description

Saltwater, Water


County

Newport


Water Source

Connected


Pool

No


Waterfront

Yes


Buyer Agency Compensation

1.75% Net Sale to RI MLS

 

Courtesy of J.E. Group Properties

The data relating to real estate for sale on this web site comes in part from the IDX Program of the State-Wide MLS, Inc. Real estate listings held by brokerage firms other than are marked with the MLS logo and detailed information about them includes the name of the listing brokers. Information deemed reliable but not guaranteed.

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Data last updated 10:31 AM UTC, 2/10/2024.

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