11-Unit Apartment
New
For Sale
$4,000,000
46 Statue Way, Portsmouth, RI 02871
Commercial/Business,Commercial Sale, Portsmouth, RI
Property SizeContact for details
Days on Market3
Property Features for 46 Statue Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R20
Rooms
Basement
Parking
15
Basement
Full
Subdivision
Lehigh Hill
Lot features
Free Standing
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
32833
Utilities
Sewer type
Septic Tank
Amenities
decks
in-unit laundry
garage parking
solar electric
Building Details
Year built
1986
Building materials
Frame
Listing Agency:
Westcott Properties
(401) 421-5300
Listed By:
Joy Riley · License #3100765
(401) 421-5300
Added: Aug 26
Last Checked: Aug 28 at 10:06PM
MLS# 1419880
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
This condominium rental portfolio contains 11 units across 8 townhouse buildings in Portsmouth. The improvements were built in 1986 and converted to condominiums in 2004. Most buildings feature decks, while units include in-unit laundry and garage parking. Unit #46 includes a detached garage identified as suitable for ADU conversion under Rhode Island’s statewide ADU law.
The property is situated in Portsmouth’s Lehigh Hill area, minutes from Newport, with R20 zoning and septic service. Solar electric systems serve 7 of the 8 buildings, tenants pay their own water, and flood insurance is not required. The condominium structure supports continued rental ownership or individual disposition of buildings and units. The oversized parcel may also support additional density, subject to applicable approvals.
The property is situated in Portsmouth’s Lehigh Hill area, minutes from Newport, with R20 zoning and septic service. Solar electric systems serve 7 of the 8 buildings, tenants pay their own water, and flood insurance is not required. The condominium structure supports continued rental ownership or individual disposition of buildings and units. The oversized parcel may also support additional density, subject to applicable approvals.
Key Highlights
- 11‑unit condominium rental portfolio across 8 townhouse buildings
- Built in 1986; converted to condominiums in 2004
- Most buildings include decks; units feature in‑unit laundry and garage parking
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
Explore this area
Business Placement
Demographics for 02871, RI
17,640
Population
8,044
Households
2.2
Avg Household Size
47
Median Age
60%
College-Educated
96%
High-School Grad
17.1 sq mi
ZIP Area
1,032
Density / Sq Mi
$119,135
Median Household Income
$56,615
Median Earnings
$1,577
Median Rent
$539,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Condominium rental holdings comprising townhouse buildings with decks, in-unit laundry, and garage parking.
Where is this apartment building located?
The property is located at 46 Statue Way Portsmouth, RI.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 11‑unit condominium rental portfolio across 8 townhouse buildings; Built in 1986; converted to condominiums in 2004; Most buildings include decks; units feature in‑unit laundry and garage parking
