27 Dean Avenue, Newport, RI, 02840
12 rooms
6 beds
3 Full baths
1900
Stacked
Prime Downtown Newport Investment Opportunity in the charming Yachting Village! Just steps from the waterfront, restaurants, boutiques, and historic mansion tours, this exceptional three-family property offers immediate income and outstanding future potential. The well-maintained building features three updated units, each offering 2 bedrooms and 1 bath, all currently leased with a history of annual rental performance. A rare three-car garage and off-street parking (two spaces per unit) add tremendous value in this highly walkable, in-demand location. The property is well maintained with easy-care siding, young roof, asphalt driveway, a welcoming covered front porch, spacious entry, separate electric meters, common coin-op laundry, and a shared yard with an outdoor garden area. For investors and owner-occupants alike, the upside is compelling. Explore options to transition to seasonal rentals, or pursue future value-add opportunities such as condominium conversion, creating a spacious owner's townhouse by combining upper floors, dormer the third floor for distant water views, convert the garage to an ADU, or seek a variance to operate a guest rental in one unit. Dean Avenue, a street experiencing revitalization with elevated renovations, this property benefits from rising neighborhood values in one of Newport's most sought-after downtown locations. A rare opportunity to own a versatile, income-producing asset in the very heart of Newport.
Status:
Active
Type:
Multi-family
Laundry Remarks:
Common Area
Units:
3
Zoning:
R10
Subdivision:
Yachting Village
Garage:
3-car Detached, Garage
Heating:
Baseboard, Hot Water, Oil
Cooling:
None
Basement:
Exterior Entry, Full, Interior Entry, Unfinished
Parking:
6-car
Acreage:
0.11
Est. Taxes:
$8,119
Assessment
$934,400
Construction
Drywall,Plaster,Vinyl Siding
Utilities
Sewer Connected
Amenities:
Near Hospital, Near Schools, Restaurant, Shopping, Tennis Court(s), Sidewalks
Days on Market:
10
Appliances:
Dryer, Dishwasher, Oven, Oil Water Heater, Range, Refrigerator, Range Hood, Washer
MLS #:
1402726
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Hogan Associates 401-855-0485