7 Cottage Street

Newport, RI 02840

$1,800,000
Last Sold Price
7
Beds
6
Baths
6,570 Sq. Ft.
$274 / Sq. Ft.
6,570
Sq. Ft.
$274
per Sq. Ft.

Description

Ideal owner-occupied income property or 1031 exchange opportunity. This 3-unit home underwent an extensive renovation in 2020 including a new roof, electrical, plumbing, heating systems, decks and new windows. The building affords modern amenities while restoring original period details and is in-town living at its finest. The first floor private unit will be ready for the new owners to enjoy all Newport has to offer this summer. Unit one is a well-appointed three bedroom, three bath apartment that...Ideal owner-occupied income property or 1031 exchange opportunity. This 3-unit home underwent an extensive renovation in 2020 including a new roof, electrical, plumbing, heating systems, decks and new windows. The building affords modern amenities while restoring original period details and is in-town living at its finest. The first floor private unit will be ready for the new owners to enjoy all Newport has to offer this summer. Unit one is a well-appointed three bedroom, three bath apartment that lives like a home with its own private entrance and gas fireplace. It has a private fenced-in backyard, oversized deck, a garage space and an additional off-street parking space. Unit two is a three bedroom, two bath apartment with open-concept living/dining space and a gas fireplace. Private deck and access to a shared fenced-in yard. Unit 3 is a furnished one bedroom loft-style apartment plus office with private deck. In all units bathrooms are finished with marble tile and Kohler fixtures, kitchens have gas stoves and stainless-steel Samsung appliances. Each bedroom has its own flat-screen, wall-mounted smart TV and California Closets. Central air and laundry in units. Each unit is allocated 1 private garage bay and 1 off street parking space. Steps to Bellevue Avenue, downtown Newport, the Cliff Walk and First Beach, this turnkey building will afford you all of what Newport has to offer while you leave your car at home and walk everywhere.

Property Details for 7 Cottage Street

Subdivision Name
Catherine
Waterfront Features
Walk to Water
Furnished
Furnished

Location

Listing Courtesy of Lila Delman Real Estate

Sold By Teri Degnan RE & Consulting

Add your commute
LISTING UPDATED: 04/30/2021 11:57 AM

Property Details for 7 Cottage Street

StatusClosed
MLS #1276959
Days on Market15
Taxes$11,657 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built1841
Lot Size0.19 AC / 8,186 SF
CountyNewport County

Location

Listing Courtesy of Lila Delman Real Estate

Sold By Teri Degnan RE & Consulting

Add your commute

Building Information for 7 Cottage Street

Stories3Residences3Year Built1841Building Size-Lot Size0.19 AC / 8,186 SF

Payment Calculator

$7,722 per month

30 year fixed, 3.85% Interest

Principal and Interest

$6,751

Property Taxes

$971

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7 Cottage Street

Summary
    Location and General Information
  • Accessibility Features: Accessibility Features
  • Community Features: Golf, Marina, Near Hospital, Near Schools, Public Transportation, Recreation Area, Shopping, Tennis Court(s), Sidewalks
  • Postal City: Newport
  • Zoning: R10
  • County: Newport
  • City: Newport
    Parking
  • Attached Garage: No
  • Covered Spaces: 3
  • Garage: Yes
  • Garage Spaces: 3
  • Parking Features: Detached, Garage, Garage Door Opener
  • Parking Total: 6
    Taxes and HOA Information
  • Association Fee: $.00
  • Tax Annual Amount: $11,657.00
  • Tax Assessed Value: 1133900
  • Tax Lot: 093
  • Tax Year: 2020
Property
    Lot Information
  • Lot Features: Corner Lot
  • Lot Size Acres: 0.19
  • Lot Size Area: 8186.0
  • Lot Size Square Feet: 8186.0
  • Building Area Total: 6,570.00
  • Parcel Number: 7COTTAGESTNEWP
  • Living Area Source: Public Records
    Property and Assessments
  • Senior Community: No
  • Construction Materials: Drywall, Clapboard
  • New Construction: No
  • Number Of Buildings: 2
  • Number Of Units Total: 3
  • Property Sub Type: Multi Family
  • Stories Total: 3
  • Year Built: 1841
  • Property Type: Residential Income
    Utilities
  • Cooling: Central Air
  • Cooling: Yes
  • Electric: 200+ Amp Service, Circuit Breakers
  • Electric On Property: Yes
  • Heating: Gas
  • Heating: Yes
  • Sewer: Connected, Public Sewer
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Connected, Public, Water Tap Fee
Interior and Exterior Features
    Exterior Features
  • Exterior Features: Deck, Paved Driveway
  • Fencing: Fenced
  • Foundation Details: Combination
  • Patio And Porch Features: Deck
  • Window Features: Thermal Windows
    Interior Features
  • Appliances: Dryer, Dishwasher, Exhaust Fan, Disposal, Gas Water Heater, Microwave, Oven, Range, Refrigerator, Washer
  • Basement: Exterior Entry, Full, Interior Entry, Unfinished
  • Basement: Yes
  • Bathrooms Full: 6
  • Bathrooms Half: 0
  • Bathrooms Total Integer: 6
  • Bedrooms Total: 7
  • Fireplace Features: Gas, Masonry
  • Fireplace: Yes
  • Fireplaces Total: 2
  • Flooring: Ceramic Tile, Hardwood, Laminate, Marble
  • Interior Features: Tub Shower, Furnished
  • Laundry Features: In Unit
  • Rooms Total: 18
MultiFamily
    Income & Expenses
  • Operating Expense: $24,000
    Unit 1
  • Unit Type Description 1: Access to fenced in yard shared with unit 3 and a private deck and 1 off street parking spaces and 1
  • Unit Type Actual Rent 1: $2,500.00
  • Unit Type Baths Total 1: 1
  • Unit Type Beds Total 1: 1
    Unit 2
  • Unit Type Description 2: Access to fenced in yard shared with unit 3 and a private deck and 1 off street parking spaces and 1
  • Unit Type Actual Rent 2: $3,000.00
  • Unit Type Baths Total 2: 2
  • Unit Type Beds Total 2: 3
    Unit 3
  • Unit Type Description 3: Private fenced in yard with 580 sqft deck and 1 off street parking spaces and 1 garage space
  • Unit Type Actual Rent 3: $3,500.00
  • Unit Type Baths Total 3: 3
  • Unit Type Beds Total 3: 3
Rental Information
    Rent Information
  • Land Lease: false
  • Tenant Pays: Hot Water

Property History for 7 Cottage Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 7 Cottage Street

Taxable ValueLand$368,300Additions$1,040,000Total$1,408,300
Tax Record2021$13,139 ($1,095 / month)
Home Facts
Baths3Total Finished SqFt4,218 SqFtAbove Grade Finished SqFt4,218 SqFtStories3Lot Size8,185 SqFtStyleMulti-Family Dwelling (2-4)Year Built1841Year Renovated1992ZoningR10CountyNEWPORTAPNNEWP M:025 B:0093Fireplace TypeHas Fireplace

Schools near 7 Cottage Street

This home is within Newport School District.
RatingSchoolTypeGradesDistance
Public - 5 to 8
Public - 9 to 12
Public - K to 4
Public - 9 to 12
RatingSchoolDistance
Frank E. Thompson Middle School
Public5 to 8

Rogers High School
Public9 to 12

Pell Elementary School
PublicK to 4

Newport Area Career Tech Center
Public9 to 12

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.

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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.

Listing Courtesy of Lila Delman Real Estate

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