Listing courtesy of Ryan Pronto from Jim Campbell Real Estate. ()
Very well-maintained 3-unit investment property located on the desirable East Side of Newport City. This turnkey income-producing property is fully occupied with long-term tenants and offers separate utilities, with each tenant responsible for their own heat, electric, and hot water expenses. Heating systems include oil hot-air furnaces in Units #1 and #2 and a propane Rinnai heater in Unit #3. Each apartment also features its own washer/dryer hookups. The landlord's expenses are limited to insurance, water/sewer, property taxes, mowing, plowing, rubbish removal, etc. Significant recent improvements include a 2 heating systems & 2 hot water heaters installed, a paved driveway, deck repairs, roof replacement on approximately two-thirds of the building in 2022, updated gutters, and several vinyl replacement windows. Additional features include a large covered front porch, fenced backyard, and a utility shed for owner storage. Unit #1 is a spacious two-story, 2-bedroom apartment leased through 5/15/2027. Unit #2 is a two-story, 1-bedroom apartment featuring a recently renovated kitchen and bathroom with granite countertops, leased through 4/30/2027. Unit #3 offers a spacious two-story, 2-bedroom layout and is leased through 6/1/2027. A rare opportunity to acquire a well-maintained, low-maintenance multifamily property with stable rental income, strong rental history, and minimal owner responsibilities.
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