37 Powel Avenue Newport, RI $ 2,095,000
37 Powel Avenue
$ 2,095,000
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37 Powel Avenue

Newport, RI, 02840
$ 2,095,000
Bedrooms6 Baths6.0 Sq 4,255

Monthly Estimate*

$ 13,924

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Multi-Family Home for sale in Newport, RI

for $2,095,000 with 6 bedrooms and 6 full baths. This 4,255 square foot home was built in 1900 on a lot size of 0.1542.

Orignially built in 1892 as a guest house for the Naval War College and in 2022 this home underwent an extensive renovation top to bottom with quality materials and thoughtful design. Uniquely equipped to accommodate a variety of living arrangements, the property holds a legal guest-house license and has garnered 100% 5-star reviews providing an excellent opportunity for rental income. Can be purchased as a furnished/turnkey property. Six bedrooms and six bathrooms including a third-floor legal in-law unit that can be repurposed as a guest suite/office. The owners planned this reconstruction as a long term investment and while honoring the home's original aesthetics they introduced state-of-the art features; modern systems include advanced HVAC, new electrical & plumbing systems, Marvin windows, electric car charger, conduit for future solar, and a hotel grade fire suppression system. Gourmet kitchens, elegant bathrooms, bamboo flooring, custom carpentry, second floor laundry, and a fabulous tree house style sitting room. Historical charm radiates through detailed woodwork, antique stained glass windows, restored pocket door, gas fireplaces, and wraparound porch with a balcony. Built for enjoying outdoor living with a fenced backyard, hazelnut trees, and two outdoor showers. Detached 2-car garage has space for bikes and surfboards. Unparalleled flexibility and potential in Newport's vibrant community within walking distance to dining, shopping, and an easy coastal lifestyle.

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Multi-Family Contingent

Price

$ 2,095,000

Bedrooms

6

Full Bath

6

Property Type

Multi-Family

Taxes

$ 8,515

Style

MultiFamily

Lot Size

0.1542

Year Built

1900

Town/City

Newport

County/Region

Newport

MLS | Web ID

1359296

Features
General
Interior Features WetBar Bathtub CathedralCeilings TubShower
Sewer Connected PublicSewer
Heating ForcedAir Gas HeatPump Zoned
Cooling CentralAir
Utilities SewerConnected
Possession Negotiable
Appliances Dryer Dishwasher ExhaustFan Disposal GasWaterHeater Oven Range Refrigerator RangeHood WaterHeater Washer
Exterior Features Balcony Porch Patio
Zoning R10
Garage Spaces 2.0
Patio/Porch Features Balcony Patio Porch
Construction Materials Drywall Clapboard WoodSiding
Year Built 1900
Electric Item200AmpService CircuitBreakers
Property SubType MultiFamily
Tax Year 2024
Waterfront Features WalktoWater
Community Features NearHospital NearSchools PublicTransportation RecreationArea Restaurant Shopping TennisCourts Sidewalks
County Newport
Operating Expense 0.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Contingency Inspection Period
Subdivision Name Kay/Catherine
Garage Y/N Y
Total Rooms 13
Status ActiveUnderContract
City Newport
View Y/N N
Senior Community Y/N N
NumberOfUnitsTotal 2
Lot Size Units SquareFeet
Lot Size Square Feet 6717.0
Waterfront Y/N N
Carport Y/N N
Street Name Powel
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 8515.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Virtual Tour https://tour.RiLiving.com/37-Powel-AV-Newport-RI-02840--1359296
Days on Market 12
Standard Status ActiveUnderContract
Tax Assessed Value 1220200
Tax Lot 56
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Interior
Basement ExteriorEntry Full InteriorEntry Unfinished
Flooring CeramicTile Hardwood
Total Fireplaces 2
Fireplace Features Gas Masonry
Total Stories 3
Basement (Y/N) Y
Air Conditioning Y/N Y
Heating Y/N Y
Window Features ThermalWindows
Fireplace Y/N Y
Above Grade Finished Area 4255.0
Full Baths 6
Half Baths 0
Street Suffix Avenue
Laundry Features CommonArea
Total Bedrooms 6
Electric On Property Y/N N
Total Baths 6
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Exterior
Fencing Fenced
Parking Features Detached Garage
Water Source Connected Public
Total Parking 7.0
Inclusions Special Use Permit on record and attached in MLS. The proposed 2024 residential mil rate is $6.98. The budget will not be set until the end of June. Therefore the 2024 taxes could adjust accordingly
Lot Size Area 6717.0
Foundation Details ConcretePerimeter Stone
Number of Buildings 1
Spa N
Building Area Total 4255.0
Lot Size Acres 0.1542
Covered Spaces 2.0
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 37
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* Excluded Features
List By
Lila Delman Compass

Broker

Karin.Jackson@LilaDelman.com

Email

Affordability Calculator

$14,634
Per Month
95%
5%
0%
Monthly Principal & Interest
$13,924
Monthly Property Taxes
$710
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
248553 Elementary School
248554 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/17/2024$2,095,000 Listed Price

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37 Powel Avenue, Newport, RI, 02840 is a Multi-Family Home for sale at $2,095,000 with 4,255 sqft and a lot size of 0.1542. 37 Powel Avenue has 6 bedrooms, 6.0 baths, and was built in 1900. The property's zip code is 02840 which is in Newport, RI