20 MIDDLETON Avenue
20 MIDDLETON Avenue Newport, Rhode Island 02840 United States

$1,300,000
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Listing Courtesy of Bayshore's Capital and RE Inc.
$1,300,000
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Commercial
Property type
1900
Year Built
1280559
Web Id
1280559
MLS ID
Newport
School District
58
days ago

About 20 MIDDLETON Avenue

Just painted exterior of building, trim, and doors in July 2021 and more to come and new pictures coming soon!! 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. There is immediate potential to expand the off street parking into the back yard huge bonus to this already desirable property. The current rents total $7950 but are below market and can be around $10,000 monthly as Tenancy at Will or Lease agreements. 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 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 INFORMATION

Cooling
Window Units
Heating
Central Heat, Common, Forced Water, Gas Connected
Location
Downtown, Free Standing
Sewer
Municipal
Water
Common Meter, In Fee, Municipal
Listing Courtesy of Bayshore's Capital and RE Inc.
Listing Courtesy of Bayshore's Capital and RE Inc.
Advertiser Logo
Listing Courtesy of Bayshore's Capital and RE Inc.
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