41.48028 -71.31217
$1,750,000
Active
8 Bed
3 Full Bath
1 Half Bath
3,256Sqft
5,663Lot Size
Multi-Family in Newport
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 café 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.
Courtesy Of J.E. Group Properties See how Multiple Listing Services benefit you >

Main Features

  • Listing Status: Active
  • Year Built: 1870
  • Garage: 5.0
  • Rooms: 16
  • Full Bath: 3
  • Half Bath: 1
  • County: Newport
  • Taxes: $6,717.60
  • Subdivision: Yachting Village
  • MLS Number:1300327

Additional Features

  • Cooling:
    • None
  • Equipment:
    • Ceiling Fan
    • Oven/Range
    • Refrigerator
  • Flooring:
    • Ceramic
    • Hardwood
  • Interior Features:
    • Stairs
  • Walls:
    • Dry Wall
    • Plaster
  • Laundry:
    • Off Site
  • Fireplace:
    • None
  • Garage Type:
    • Detached
  • Type:
    • Apartment
    • Up/Down
  • Basement Details:
    • Partial
  • Basement Entry:
    • Interior Only
  • Basement Finished:
    • Partially Finished
  • Basement Rooms:
    • Utility
  • Foundation:
    • Concrete
    • Stone
  • Exterior:
    • Clapboard
  • Acres:
    • 0.13
  • Lot Description:
    • Paved Driveway
    • Sidewalks
  • Close To:
    • Bus
    • Hospital
    • Marina
    • Public School
    • Shopping
    • Tennis
  • Electric:
    • 100 Amps
  • Heating Fuel:
    • Oil
  • Heating Paid By:
    • Tenant
  • Heating System:
    • Forced Water
  • Hot Water:
    • Oil
  • Sewer:
    • Connected
  • Number of Buildings:
    • 2
  • Water:
    • Connected
  • Water Amenities:
    • Saltwater View
    • Walk to Salt Water
  • Above Grade SQFT:
    • 3256
  • Basement Percent Finished:
    • 90
  • Listing Website:
    • www.jegroup.properties/properties
  • Lot Size Sq Ft:
    • 5663
  • Onsite Parking Spaces:
    • 6
  • Total Parking Spaces:
    • 11
38 Red Oak Way Wakefield RI 02879
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