Large 3-family in downtown Newport. This buildings combination of size, location, parking, and rentability make it a great asset for anyone's Real Estate portfolio. This building encompases three large apartments for a total of 10 beds, 6 baths, and 6 parking spots. The 1st floor is a 3 bed 2 bath and it's kitchen is renovated. The 2nd floor is a 3 bed 2 bath and it has a renovated bathroom. The 3rd floor is a 4 bed 2 bath and it has a new granite counter top, as well as charming sky lights and exposed beams. All three apartments come with 2 parking spots, hardwood floors, and the furniture in the units. All apartments have been fully rented for the past decade and are currently rented through May 2026, making this property is perfectly positioned for investors looking to capitalize on Newports dynamic market.
For sale
$1,875,000
501 Spring St, Newport, RI 02840
10beds
4,026sqft
Est.:
Multi Family
Built in 1900
-- sqft lot
$1,793,700 Zestimate®
$466/sqft
$-- HOA
What's special
Furniture in the unitsNew granite counter topParking spotsExposed beamsHardwood floorsRenovated bathroomCharming sky lights
- 9 days
- on Zillow |
- 2,195 |
- 100 |
Zillow last checked: 7 hours ago
Listing updated: August 14, 2025 at 07:09am
Listed by:
Christopher Walker 401-207-3970,
William Raveis Inspire,
The Aquidneck Team 401-640-0807,
William Raveis Inspire
Source: StateWide MLS RI,MLS#: 1391997

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Open house
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 6
- Full bathrooms: 6
Heating
- Natural Gas, Oil, Forced Air
Cooling
- None
Appliances
- Included: Gas Water Heater, Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
- Laundry: In Building
Features
- Wall (Plaster), Skylight, Stairs, Plumbing (Mixed), Ceiling Fan(s)
- Flooring: Hardwood
- Windows: Skylight(s)
- Basement: Full,Interior and Exterior,Unfinished
- Number of fireplaces: 1
- Fireplace features: None
Interior area
- Total structure area: 4,068
- Total interior livable area: 4,026 sqft
Property
Parking
- Total spaces: 6
- Parking features: No Garage
Features
- Stories: 3
Lot
- Size: 3,911.69 Square Feet
Details
- Parcel number: NEWPM035B0092
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Plaster, Clapboard, Shingles
- Foundation: Stone
Condition
- New construction: No
- Year built: 1900
Utilities & green energy
- Electric: 100 Amp Service
- Utilities for property: Sewer Connected, Water Connected
Community & HOA
Community
- Features: Near Public Transport, Highway Access, Hospital, Marina, Private School, Public School, Recreational Facilities, Restaurants, Schools, Near Shopping, Near Swimming, Tennis
- Subdivision: Yachting Village
HOA
- Has HOA: No
Location
- Region: Newport
Financial & listing details
- Price per square foot: $466/sqft
- Tax assessed value: $1,392,400
- Annual tax amount: $11,447
- Date on market: 8/6/2025
- Total actual rent: 10437
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