For sale

$1,850,000

87 Spring St, Newport, RI 02840

7beds

3,289sqft

Est.:

Multi Family

Built in 1898

-- sqft lot

$-- Zestimate^®

$562/sqft

$-- HOA

What's special

Exceptional investment property in the heart of Newport's tourist district. 87 Spring Street is a 4-unit multifamily featuring 3 Fully City Licensed Short Term Rental units and 1 year round tenancy apartment. The licensed short-term rental units are turnkey and ready to continue generating revenue, while the long-term tenant provides reliable baseline income. Profit and Loss statements are available for review; gross projected income for 2025-2026 $203,600. BEING SOLD as a package with 69 Spring Street (MLS #1401952) for $3,950,000. Reach out today to schedule a tour.

36 days

1,005

26

Tour with a local agent

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 7
Bathrooms: 4
Full bathrooms: 4

Heating

Oil, Forced Water

Cooling

Window Unit(s)

Appliances

Laundry: In Unit

Features

Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
Flooring: Ceramic Tile, Hardwood, Laminate
Basement: Full,Walk-Out Access,Unfinished
Has fireplace: No

Interior area

Total structure area: 2,906
Total interior livable area: 3,289 sqft

Property

Parking

Parking features: No Garage

Features

Stories: 3

Lot

Size: 1,568.16 Square Feet
Features: Local Historic District

Details

Zoning: GB

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family
Attached to another structure: Yes

Materials

Plaster
Foundation: Stone

Condition

New construction: No
Year built: 1898

Utilities & green energy

Electric: Circuit Breakers
Sewer: Public Sewer
Water: Municipal

Community & HOA

HOA

Has HOA: No

Location

Region: Newport

Financial & listing details

Price per square foot: $562/sqft
Annual tax amount: $10,696
Date on market: 12/18/2025
Total actual rent: 16966

Estimated market value

Not available

Estimated sales range

Not available

$2,049/mo

Price history

Date	Event	Price
12/18/2025	Listed for sale	$1,850,000+94.2%$562/sqft
Source: StateWide MLS RI #1401961 Report a problem
12/5/2023	Listing removed	--
Source: Zillow Rentals Report a problem
11/30/2023	Listed for rent	$1,500+36.4%
Source: Zillow Rentals Report a problem
3/24/2021	Listing removed	--
Source: Owner Report a problem
1/13/2019	Listing removed	$1,100
Source: Owner Report a problem