523 Thames Street

Newport, RI 02840

$2,025,000
Last Sold Price
8
Beds
5
Baths
1
1/2 Bath
4,596 Sq. Ft.
$441 / Sq. Ft.
4,596
Sq. Ft.
$441
per Sq. Ft.

Description

This property is a legal mixed-use commercial 4 unit building. First floor has a one bedroom apartment and a small office or retail space. Second floor is a 3 bed 1.5 bath apartment and the third floor is a 3 bedroom 2 bath, both of which are rented for short term rentals with proven financial history. Excellent downtown location with 4 parking spots, patio area, deck, and a brand-new heating system and roof. Potential for a roof top deck with harbor views. Don't miss out on this incredible investment...This property is a legal mixed-use commercial 4 unit building. First floor has a one bedroom apartment and a small office or retail space. Second floor is a 3 bed 1.5 bath apartment and the third floor is a 3 bedroom 2 bath, both of which are rented for short term rentals with proven financial history. Excellent downtown location with 4 parking spots, patio area, deck, and a brand-new heating system and roof. Potential for a roof top deck with harbor views. Don't miss out on this incredible investment opportunity!
  1. Listed by Fitzpatrick Team • RE/MAX Profnl. Newport, Inc.

Property Details for 523 Thames Street

Waterfront Features
Walk to Water, Flood Insurance

Location

Listing Courtesy of RE/MAX Profnl. Newport, Inc.

Sold By Our Real Estate

Add your commute
LISTING UPDATED: 12/19/2022 07:08 AM

Property Details for 523 Thames Street

StatusClosed
MLS #1315424
Days on Market30
Taxes$12,459 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built1899
Lot Size0.06 AC / 2,614 SF
CountyNewport County

Location

Listing Courtesy of RE/MAX Profnl. Newport, Inc.

Sold By Our Real Estate

Add your commute

Building Information for 523 Thames Street

Stories-Residences4Year Built1899Building Size-Lot Size0.06 AC / 2,614 SF

Payment Calculator

$12,090 per month

30 year fixed, 7.25% Interest

Principal and Interest

$11,051

Property Taxes

$1,038

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 523 Thames Street

Summary
Location and General Information
  • Community Features: Marina, Shopping
  • Postal City: Newport
  • Postal Code Plus 4: 6717
  • Zoning: WB
  • County: Newport
  • City: Newport
Parking
  • Covered Spaces: 0
  • Garage: No
  • Garage Spaces: 0
  • Parking Features: No Garage
  • Parking Total: 4
Taxes and HOA Information
  • Tax Annual Amount: $12,459.00
  • Tax Assessed Value: 890600
  • Tax Lot: 124
  • Tax Year: 2021
Virtual Tour
Property
Lot Information
  • Lot Size Acres: 0.06
  • Lot Size Area: 2614.0
  • Lot Size Square Feet: 2614.0
  • Lot Size Units: Square Feet
  • Building Area Total: 4,596.00
  • Parcel Number: 523525THAMESSTNEWP
  • Living Area Source: Public Records
Property and Assessments
  • Senior Community: No
  • Construction Materials: Aluminum Siding, Shingle Siding
  • New Construction: No
  • Number Of Buildings: 1
  • Number Of Units Total: 4
  • Property Sub Type: Multi Family
  • Stories Total: 0
  • Year Built: 1899
  • Property Type: Residential Income
Utilities
  • Cooling: Window Unit(s)
  • Cooling: Yes
  • Electric: 100 Amp Service
  • Heating: Gas, Hot Water
  • Heating: Yes
  • Sewer: Public Sewer
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Structure Type: Apartment
Interior Features
  • Appliances: Dryer, Dishwasher, Electric Water Heater, Refrigerator, Washer
  • Basement: Exterior Entry, Full, Interior Entry, Unfinished
  • Basement: Yes
  • Bathrooms Full: 5
  • Bathrooms Half: 1
  • Bathrooms Total Integer: 6
  • Bedrooms Total: 8
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Hardwood
  • Interior Features: Tub Shower
  • Laundry Features: Common Area
  • Rooms Total: 12
MultiFamily
Income & Expenses
  • Operating Expense: $50,000
Unit 1
  • Unit Type 1: 3 Bedroom
  • Unit Type Description 1: short term rental
  • Unit Type Actual Rent 1: $.00
  • Unit Type Baths Total 1: 2
  • Unit Type Beds Total 1: 3
Unit 2
  • Unit Type 2: 3 Bedroom
  • Unit Type Description 2: short term rental
  • Unit Type Actual Rent 2: $.00
  • Unit Type Baths Total 2: 2
  • Unit Type Beds Total 2: 3
Unit 3
  • Unit Type 3: 1 Bedroom
  • Unit Type Actual Rent 3: $.00
  • Unit Type Baths Total 3: 1
  • Unit Type Beds Total 3: 1
Unit 4
  • Unit Type 4: 1 Bedroom
  • Unit Type Actual Rent 4: $.00
  • Unit Type Baths Total 4: 1
  • Unit Type Beds Total 4: 1
Rental Information
Rent Information
  • Land Lease: false

Property History for 523 Thames Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 523 Thames Street

This home is within Newport School District.
Rating
School
Type
Grades
Distance
Public - 5 to 8
Public - 9 to 12
Public - 9 to 12
Public - PK to 4
Rating
School
Distance
Frank E. Thompson Middle School
Public5 to 8

Rogers High School
Public9 to 12

Newport Area Career Tech Center
Public9 to 12

Pell Elementary School
PublicPK to 4

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of RE/MAX Profnl. Newport, Inc.

Based on information from one of the following Multiple Listing Services: Rhode Island Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Rhode Island Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.