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    28 Young St Newport, RI 02840

    Pending
    For Sale
    $1,420,000

    Multi Family - Newport, RI

    Type:Multi Family
    Property size:
    2,828 SF
    Lot size:
    0.08 Acres
    Days on Market:
    47
    Last Refresh:
    Dec 6 at 4:06 pm

    Property Features for 28 Young St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Standard status
    Pending
    Zoning
    R10
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    6
    Bathrooms
    3
    Parking
    5
    Interior features
    Wall (dry Wall), Plumbing (mixed), Insulation (floors)
    Exterior features
    Local Historic District, Sidewalks, Balcony
    Appliances
    Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
    Size
    2,828 SF
    Lot size
    0.08 Acres

    Utilities

    Heating system
    Baseboard

    Building Details

    Year built
    1885
    Floors in Building
    3
    Number of units
    3
    Flooring type
    Carpet, Vinyl
    Architectural style
    Other

    Hogan Associates | Christie's International Real Estate (401) 845-9500 [email protected]

    Listing agent Kevan Campbell (401) 845-9500

    Listing date Oct 21, 2025

    MLS# 1395235 Listing URL

    Copyright © 2025 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Newport Multi-Family Investment Opportunity

    Located in downtown Newport, this three-family property is situated between Spring and Thames Street, near the waterfront, dining, and shops. The building has a history of strong rental income and potential for growth. Young Street is a two-way street, providing convenience for tenants. Each of the three units includes 2 bedrooms and 1 bath, and all floors are currently leased. The property has a proven rental history with current rents below market value. It is suitable as a seasonal rental to maximize return on investment. Separate utilities are available for all units, including furnaces. A new hard-wired smoke alarm system is being installed. Off-street parking is available for 3 cars, plus a 2+ car garage. The garage presents an ADU possibility. The property's proximity to Salve Regina, the harbor, and downtown attractions makes it an attractive year-round or seasonal rental option. The property is zoned R10 and the lot size is 0.076 acres. The building size is 2,828 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Daycare Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.313457
    Latitude
    41.481825

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    FAQs

    What type of property is this?
    Triplex - Downtown Newport three-family with income potential near waterfront and attractions.
    Where is this triplex located?
    The property is located at 28 Young St Newport, RI.
    What is the asking price?
    The asking price for this property is $1,420,000.
    What are key features of this property?
    This property features: - Prime downtown Newport location, steps from waterfront, dining, and shops.; - Strong rental history with significant income growth potential.; - Off-street parking for 3 cars plus a 2+ car garage with ADU potential.
    (401) 845-9500
    Request Owner's contact information
    28 Young St Newport, RI 02840
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    Newport, RI 02840
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    28 Young St Newport, RI 02840
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