2801 2803 East Main Road,Portsmouth, RI 02871
Portsmouth, RI 02871
Description
Well-maintained five-unit multifamily property, zoned commercial, consisting of two separate buildings. The main building at 2803 East Main Road has 3323 sq ft of living space containing four one-bedroom apartments, while the second 959 sq ft building at 2801 East Main Road is a separate two-bedroom residence. The separate buildings provide flexibility for investors as well as owner-occupants. Each unit has its own individual heating and hot water system, with tenants responsible for most utilities. Current rents are below market, providing an opportunity to increase rental income through future rent adjustments. Ample parking is also available. The existing five-unit configuration, separate buildings, individual systems, and established rental income provide a solid foundation for an investor looking to add to a multifamily portfolio or an owner-occupant seeking rental income from the additional units.
Details
| MLS # | 1423564 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1887 |
| Days On Site | 19 |
| Listing Provided By | Hogan Associates Christie's | Kevan Campbell |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 6,253 |
| Basement | Y |
| Story(s) | 3 |
| Units | 4 |
| Building(s) | 2 |
| Zoning | C |
| Acreage | 0.30 |
| Golf Course | Yes |
Interior
| Rooms Total | 11 |
|---|---|
| Heating | Electric, Natural Gas, Baseboard, Forced Air |
| Heating Yes / No | Yes |
| Cooling | Window Unit(s) |
| Cooling Yes / No | Yes |
| Appliances | Dryer, Range Hood, Oven, Range, Refrigerator, Washer, Electric Water Heater, Gas Water Heater, Tankless Water Heater |
| Interior Features | Wall (Dry Wall), Cathedral Ceilings, Stairs, Plumbing (Mixed), Insulation (Ceiling), Insulation (Floors), Insulation (Walls) |
| Fireplace Yes / No | Yes |
| Fireplaces Total | 1 |
| Fireplace Features | Wood Frame |
| Laundry Features | Common Area, In Building |
Exterior
| Foundation Details | Mixed |
|---|---|
| Lot Features | Paved Driveway, Paved |
| Community Features | Bus, Commuter Bus, Golf, Highway Access, Interstate, Marina, Private School, Public School, Recreational Facilities, Restaurants, Schools, Shopping, Near Swimming, Tennis |
| Construction Materials | Dry Wall, Other Siding, Vinyl Siding |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Garage Yes / No | No |
| Parking Features | No Garage |
Utilities
| Utilities | Water Connected |
|---|---|
| Sewer | Septic Tank |
| Electric | 100 Amp Service |
Location
| Community Features | Bus, Commuter Bus, Golf, Highway Access, Interstate, Marina, Private School, Public School, Recreational Facilities, Restaurants, Schools, Shopping, Near Swimming, Tennis |
|---|
Taxes
| Tax Annual Amount | 7164.07 |
|---|---|
| Tax Assessed Value | 728500 |
| Tax Lot | 23 23A |
| Tax Year | 2025 |
Area Information
| State | RI |
|---|---|
| County | Newport |
| City | Portsmouth |
| Zip Code | 02871 |
| Area | Newport |
| Listing VS Median (in 02871) | |
Price: $1,095,000 low | high Med: $722,250 sqft: 6,253 low | high Med: 1,940 $ / sqft: $175 low | high Med: $407 On site: 19 low | high Med: 65.5 | |
Market Activity 02871
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Learn More About This Property
| State | RI |
|---|---|
| County | Newport |
| City | Portsmouth |
| Zip Code | 02871 |
| Area | Newport |
| Listing VS Median (in 02871) | |
Price: $1,095,000 low | high Med: $722,250 sqft: 6,253 low | high Med: 1,940 $ / sqft: $175 low | high Med: $407 On site: 19 low | high Med: 65.5 | |