69 & 87 Spring Street
Why We Love it
69 & 87 Spring Street, Newport, RI 02840
Two exceptional investment properties in the heart of Newport's tourist district.
This offering includes two buildings, totaling 8 units on desirable Spring Street. The property at 69 Spring Street features a driveway with 4 dedicated parking spaces—a rare and valuable amenity in this high-demand location. These properties also feature city-licensed Airbnb units, and 2 established year-round residential tenants.
Located steps from Newport's renowned waterfront, historic attractions, dining, and shopping, these properties benefit from the area's consistent tourism draw and thriving local economy. The licensed short-term rental units are turnkey and ready to continue generating revenue, while the long-term tenants provide reliable baseline income.
Whether you're looking to expand your investment portfolio or establish a presence in Downtown Newport, this is a rare opportunity to secure prime real estate in an irreplaceable location.
SALE PRICE:
$3,950,000
SALE PRICE:
$3,950,000
BUILDING SIZE:
69 Spring: 2,823 SqFt
87 Spring: 2,921 SqFt
BEDROOMS:
69 Spring: 6
87 Spring: 7
BATHROOMS:
4 full bathrooms per property | 1 bathroom per unit
WATER:
Publicly Connected
SEWER:
Publicity Connected
69 SPRING INCOME:
2024: $137,000
2025 / Projected: $199,000
87 SPRING INCOME:
2024: $162,000
2025 / Projected: $203,600
PROPERTY TYPE:
Residential apartments
NUMBER OF UNITS:
69 Spring: 4 units | 3 short term rental, 1 year round tenant
87 Spring: 4 units | 3 short term rental, 1 year round tenant
PARKING:
69 Spring: 4 parking spots
87 Spring: no off-street parking
ZONING:
GB | General Business
YEAR BUILT:
1898
PLAT / LOT:
24 / 26 & 24 / 75
FRONTAGE:
Located on Spring Street in downtown Newport
ASSESSMENT:
Total: $1,892,400