Project Description

Bay Shores Exclusive | 20 Middleton Avenue, Newport, RI

Property at a Glance

$1,300,000

Here is a very unique investment opportunity in an exceptional location and well cared for by the current owners of over 22 years! Here is your chance to own a legal 5 unit multifamily home off Memorial Blvd West near Cliff Walk, Easton Beach, Tennis Hall of Fame, Ocean Drive, and downtown all in walking distance and completely occupied. There is immediate potential to expand the off street parking into the back yard huge bonus to this already desirable property. All five units are in good cosmetic condition consisting of a main level 3 bedroom apartment with 4 additional one bedroom apartments on the second and third floors. The hallways leading to the units are nicely maintained. The roof was replaced in June 2002 and most of the windows have been replaced with Harvey windows in June 2006. The exterior could use a repaint or vinyl siding if a buyer prefers but so worth the investment potential here. The home features a centralized energy star rated heating system with gas conversion in March 2008 and newer hot water tank. There are 3 circuit breaker panels that were updated in June 2006. Plenty of reasons here to own such a special investment property in a high demand Newport market with plenty of room to expand on the investment potential of this centrally located gem!

Property at a Glance

$1,300,000

Here is a very unique investment opportunity in an exceptional location and well cared for by the current owners of over 22 years! Here is your chance to own a legal 5 unit multifamily home off Memorial Blvd West near Cliff Walk, Easton Beach, Tennis Hall of Fame, Ocean Drive, and downtown all in walking distance and completely occupied. There is immediate potential to expand the off street parking into the back yard huge bonus to this already desirable property. All five units are in good cosmetic condition consisting of a main level 3 bedroom apartment with 4 additional one bedroom apartments on the second and third floors. The hallways leading to the units are nicely maintained. The roof was replaced in June 2002 and most of the windows have been replaced with Harvey windows in June 2006. The exterior could use a repaint or vinyl siding if a buyer prefers but so worth the investment potential here. The home features a centralized energy star rated heating system with gas conversion in March 2008 and newer hot water tank. There are 3 circuit breaker panels that were updated in June 2006. Plenty of reasons here to own such a special investment property in a high demand Newport market with plenty of room to expand on the investment potential of this centrally located gem!

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A Closer Look at This Outstanding Property

Multi Family: 5
Year Built: 1900
Approx. Lot SF: 3,893
On-Site Parking: 2

Multi Family: 5
Year Built: 1900
Approx. Lot SF: 3,893
On-Site Parking: 2

Interested in seeing this Bay Shores Exclusive property in person?

REQUEST A TOUR