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382 Spring Street

Newport, RI 02840
  • $1,350,000
  • STATUS: Closed
  • ON SITE: 230 Days
  • MLS #: 1300327
Sold - 07/06/2022
$1,350,000
SOLD - 07/06/2022
  • 8
    BEDS
  • 0.13
    ACRES
  • 3
    BATHS
  • 1
    1/2 BATHS
  • 3,256
    SQFT
  • $415
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1870
County:
Area:

School Ratings & Info

Description

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.

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© 2022 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than Onshore Realtors are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Onshore Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-08-07T23:37:44.603.
www.onshorerealtors.com/homes/124177565
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382 Spring Street Newport, RI 02840

  • Price: $1,550,000
  • Status: Closed
  • On Site: 230 Days
  • MLS #: 1300327
8
Beds
3
Baths
1
½ Baths
0.13
Acres
3,256
SQFT
$415
$/SQFT
1870
Built
Neighborhood:
Yachting Village
County:
Newport
Area:
Newport
Property Description
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.
Exterior Features

Construction Materials DrywallPlasterClapboard Covered Spaces 5 Exterior Features Paved Driveway Foundation Details Concrete PerimeterStone Garage YN Yes Parking Features DetachedGarage Parking Total 11 View SaltwaterWater View YN Yes Waterfront Features Walk To Water

Interior Features

Appliances OvenOil Water HeaterRangeRefrigerator Basement Interior EntryPartialPartially Finished Basement YN Yes Cooling None Fireplace Features None Fireplace YN No Fireplaces Total 0 Flooring Ceramic TileHardwood Heating Hot WaterOil

Property Features

Attached Garage YN No Buyer Financing Private Community Features MarinaNear HospitalNear SchoolsPublic TransportationShoppingTennis Court(S)Sidewalks Electric 100 Amp Service Land Lease YN No Operating Expense 0 Property Sub Type Multi Family Senior Community YN No Sewer Connected Structure Type Apartment Tax Annual Amount 6717.6 Tax Assessed Value 720000 Tax Lot 108 Tax Year 2021 Utilities Sewer Connected Water Source Connected

Listing information © 2022 State-Wide Multiple Listing Service.
Listing provided courtesy of J.E. Group Properties.





© 2022 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than Onshore Realtors are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Onshore Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-08-07T23:37:44.603.
 
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Onshore Realtors
57 Shore Rd, Suite B
Westerly RI, 02891