$1,420,000

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28 Young Street Newport, RI, United States 02840

Prime downtown Newport three-family ideally located between Spring and Thames Street, just steps from the waterfront, dining, and shops. Strong rental history & income growth potential. Young Street is one of the few two-way streets in this downtown neighborhood, offering added convenience for tenants. Each of the three units offers 2 bedrooms and 1 bath, with all floors currently leased, for immediate cash flow. The building has a proven rental history with current rents well below market value. This would be a perfect seasonal rental which would maximize the rental return on investment. Seperate utilites for all units including furnaces. New hard-wired smoke alarm system being installed. Off-street parking for 3 cars plus a 2+ car garage. Garage is definite ADU possibility. Close proximity to Salve Regina the harbor, and downtown attractions make this an attractive year-round or seasonal rental option. Rarely does a three-family in this location, with this level of upside potential, come to market.

Amenities

  • Bedrooms: 6
  • Full Bathrooms: 3
  • Partial Bathrooms: 0
  • Property Type: Residential Multi Family
  • Architectural Style: Other
  • Year Built: 1885
  • Built in 1885
  • Home size: 2,828 ft2 / 262.73 m2
  • MLS: 1395235
  • Status: Active
Copyright © 2025 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Property brokered by

Hogan Associates Christie's International Real Estate

(401) 680-6588

Get more listing details on brokerage site

Presented by Kevan Campbell

  • (401) 845-9500
  • (401) 845-9500 (Office Phone)

Contact Kevan Campbell

Contact Agent

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