13 Dean Avenue, Newport, RI 02840

• 5 beds |
• 5 baths |
• 2,448 sqft

Property Description

Please do not walk the property--Sold furnished! Fully-restored 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 8.2% 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 16 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 sacrificing 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. Buyer to conduct due diligence.

Listing Status:

Active

Date Added:

July 14, 2025 at 05:00AM

Listing Office:

Smith and Oak Real Estate Co. : 401-464-2617

MLS ID:

1389865

Interior

• General: Interior Steps
• Appliances: DryerWater HeaterWasher
• Laundry: Common Area
• Basement: Exterior EntryFullInterior EntryUnfinished
• Flooring: Hardwood
• A/C: Ductless
• Heating: DuctlessElectricGasHeat Pump
• Fireplace: Fireplaces: 0
• Eco/Green Feature: DoorsHVACWindows

Exterior

• General: DeckPaved Driveway
• Parking: No GarageParking spaces: 9

Construction

• Windows: Thermal Windows
• General: PlasterClapboardWood Siding3Stone

Location

• Originating MLS: RIS_RIS
• County: Newport

Lot

• Zoning: R1013DEANAVNEWP
• Fencing: Fenced

Utilities

• Utilities: Sewer ConnectedCircuit BreakersSeparate Meters
• Water: ConnectedMultiple Meters
• Sewer: Connected

Financial

• Source: RIS_RIS

This listing courtesy of Smith and Oak Real Estate Co.