13 Dean Ave, Home with 5 bedrooms, 5 bathrooms and 9 parking in Newport RI | Image 1

$1,776,000

13 Dean Ave, Newport, RI

Real Estate

For Sale

$--,---,---

559

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Residential Income

Size -

Garage No

Taxes $5,678

Days Active 5

Lot Size

Approx. Age 1900

MLS® Number 1389865

Property Address:

Average square foot calculated using Size range provided by listing agent.

Description

Fully restored, and de-leaded 3 unit on oversized lot (25% building cov.) in the heart of Newport's Historic Yachting Village! Located steps to Thames Street and all Newport has to offer, this is a tremendous investment or owner occupant opportunity offering as high as a 7.2% Cap Rate--a stellar return for the area, and up to 9 PARKING SPACES. The entire home has been renovated and restored from the roof to the Premium Andersen Replacement Windows with transferrable warranty. The home features three large units, (2) 2 BR/ 1.5 BA, and (1) 1BR/ 1 BA, all currently rented. Units feature hardwood flooring, premium bathrooms and kitchens completely updated and remodeled. Each unit has its own energy efficient ductless heating and cooling system, and is also connected to gas, water, sewer. The roof is young, and was stripped and replaced in 2016 with transferrable warranties. The oversized lot presents a great opportunity to add a garage with lofted unit or living space (ADU) above. With only 25% of building coverage, there is ample room to add this additional dwelling without sacraficing valuable parking for you or your tenants. Each unit comes w/ new dedicated Maytag washer/dryers. Ductless split systems are raised for protection against the elements. Tremendous rental history seasonally, annually, or occupy the third unit and utilize owner occupant short-term rental ability. Own a piece of history with solid returns in the heart of Newport. Sold furnished*Show Description

MLS® Number1389865

Laundry LevelCommon Area

Central VacNo

FireplaceNo

Acreage0.094

ExteriorDeck, Paved Driveway

GarageNo

Approx. Age1900

BasementExterior Entry, Full, Interior Entry, Unfinished

DrivewayNo Garage

Garage Spaces

HeatDuctless, Electric, Gas, Heat Pump

A/CDuctless

Heating Fuel

Extras

Owner is responsible for gas bill and common area electric bill. Tenants pay Electric , and each unit pays 1/3 of the water bill. Each unit has dedicated Maytag washer and dryer in basement. Each tenant gets 2 parking spaces. Seller rents out each unit on yearly leases and receives a significant tax incentive. 2024 TAX BILL= $3694.43... SOLD FURNISHED EXCLUDING SOME TENANT ITEMS (COUCH IN 3RD UNIT LIVING ROOM)

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