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Barbara was excellent to work with - she responded promptly to all emails/calls/texts and was very informative about the process for first time home buyers. She brings a wealth of local knowledge to the table and was very supportive throughout. Would highly recommend! Shaelyn Bouchard
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Listing 2 out of 198
$920,000 For Sale

7 - 9 Dearborn St
Newport, RI 02840

4 units | Multi Family Home
4792 sq ft lot - MLS# 1226255
Property Photo
1/33

Description

Rare 4-5 unit multi-family in the heart of Newport's famed Yachting Village! With rental rates currently FAR under market value, there is plenty of 'meat on the bone' here for any savvy investor. Zoned for 5 separate units, but currently rented as 4, the necessaries have all been tended to: roof, boiler, hot water heaters and more. The first floor comprises the largest unit, a three bed (plus office) apartment with 2 full baths and direct access to the back yard. The second floor is divided into two lucrative apartments: a one bed one bath, and a two bed one bath. The top floor houses the marquis unit, which boasts an open floor-plan and a roof-deck with sweeping views of Newport Harbor! Truly a diamond in the rough for anyone looking to maximize income potential.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • County/Area: Newport County
  • Zip Code: 02840
  • Year Built: 1900
  • Subdivision/Neighborhood: Yachting Village
  • Style: Apartment
  • Total Rooms: 22
  • Units: 4 units
  • Bedrooms: 8
  • Full Baths: 5
  • Basement: Bulkhead, Unfinished, Full
  • Lot Size: 4792 sq ft lot
  • Baths: 5
  • View: Yes, See Water Amenities
  • Zoning: r10
  • Approx Lot Square Foot: 4791.6000
  • Basement Rooms Type: Storage Area, Utility
  • Bath Description: Bath W Tub, Bath W Shower Stall, Bath W Tub & Shower
  • Certificateof Legal Use: 1
  • Electric: 100 Amps
  • Exterior: Clapboard, Insulated Glass Windows, Porch, Wood
  • Finished Floor: Hardwood, Vinyl, Wall To Wall Carpet
  • Heat Paid By: Owner
  • Heating Fuel: Gas
  • Heating System: Forced Water, Radiant Heat
  • Hot Water: Electric, Individual, Owner Pays, Tank
  • Last Change Type: New Listing
  • Laundry: Yes
  • Main Type: 2-4 Units Multi Family
  • Num Basement Rooms: 1
  • Number Of Buildings: 2
  • Number Of Heat Systems: 1
  • Number Of Levels: 3
  • Number Of Units: 4
  • Owner Annual Expenses: 10000.0000
  • Owner Annual Income: 51000
  • Plumbing: Pvc
  • Sewer: Connected, Public Connected
  • Unit Ttl Bedrms MFM: 8
  • Unit Ttl Full Baths MFM: 5
  • Unit Ttl Rent MFM: 4250
  • Water Amenities: Saltwater View, Walk To Salt Water, Walk To Water
  • Water Supply: Connected, Public Connected
Listed by: Keller Williams Rlty Newport
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