Four-Unit Apartment
33 HALSEY ST Newport, RI 02840
33 HALSEY ST, Newport, RI, 02840
Contact for pricing
For Sale
Contact for pricing
Two-story multifamily building offers four 1-bedroom, 1-bath units with off-street parking on a 0.23-acre parcel.
Property Size3,209 SF
Lot Size0.23 Acres
Price / SF$303.83
Days on Market58
Property Features for 33 HALSEY ST
General Information
- Standard status
- Active
- Size
- 3,209 SF
- Lot size
- 0.23 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1940
Listing agency
Horvath & Tremblay
Listed by
Sean McHale · License #9584433
Source
Crexi
Added: May 27 Updated: Jul 21 at 8:36PM Checked: Jul 22 at 2:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Horvath & Tremblay
Investment Insights
Based on property information with market context.
Offered for sale, this two-story multifamily building features four (4) 1-bedroom, 1-bathroom units. The property contains 2,992 square feet of gross living area within 3,209 square feet of gross area. The site includes five (5) off-street parking spaces.
The building is located in the residential core of Newport and provides convenient access to downtown waterfront, historic districts, and neighborhood retail corridors. It also offers connectivity to local thoroughfares including Broadway and Memorial Boulevard, with close proximity to Rhode Island Routes 138 and 114 for travel throughout Aquidneck Island and to the mainland via the Claiborne Pell Newport Bridge.
The building is located in the residential core of Newport and provides convenient access to downtown waterfront, historic districts, and neighborhood retail corridors. It also offers connectivity to local thoroughfares including Broadway and Memorial Boulevard, with close proximity to Rhode Island Routes 138 and 114 for travel throughout Aquidneck Island and to the mainland via the Claiborne Pell Newport Bridge.
Key Highlights
- 1940‑built, two‑story multifamily building with four 1‑bedroom, 1‑bath units
- Total of 2,992 sq ft gross living area and 3,209 sq ft gross area
- 0.23‑acre parcel with five off‑street parking spaces
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $93.2k | $29.04 |
| − Vacancy | −$6.5k | −$2.03 |
| EGI | $86.7k | $27.01 |
| − OpEx | −$39.0k | −$12.15 |
| NOI | $47.7k | $14.85 |
3,209 SF · lease $29.04/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$680.9K
$595.8K – $794.4K
NOI $47,666 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$765.7K
$670.0K – $893.3K
NOI $53,597 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Two-story multifamily building offers four 1-bedroom, 1-bath units with off-street parking on a 0.23-acre parcel.
Where is this multifamily property located?
The property is located at 33 HALSEY ST Newport, RI.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 1940‑built, two‑story multifamily building with four 1‑bedroom, 1‑bath units; Total of 2,992 sq ft gross living area and 3,209 sq ft gross area; 0.23‑acre parcel with five off‑street parking spaces
