27 Dean Avenue

Newport, RI 02840

Prime Downtown Newport Investment Opportunity in the charming Yachting Village! Just steps from the waterfront, restaurants, boutiques, and historic mansion tours, this exceptional three-family property offers immediate income and outstanding future potential. The well-maintained building features three updated units, each offering 2 bedrooms and 1 bath, all currently leased with a history of annual rental performance. A rare three-car garage and off-street parking (two spaces per unit) add tremendous value in this highly walkable, in-demand location. The property is well maintained with easy-care siding, young roof, asphalt driveway, a welcoming covered front porch, spacious entry, separate electric meters, common coin-op laundry, and a shared yard with an outdoor garden area. For investors and owner-occupants alike, the upside is compelling. Explore options to transition to seasonal rentals, or pursue future value-add opportunities such as condominium conversion, creating a spacious owner's townhouse by combining upper floors, dormer the third floor for distant water views, convert the garage to an ADU, or seek a variance to operate a guest rental in one unit. Dean Avenue, a street experiencing revitalization with elevated renovations, this property benefits from rising neighborhood values in one of Newport's most sought-after downtown locations. A rare opportunity to own a versatile, income-producing asset in the very heart of Newport.

Listing courtesy of Holly McLear of Hogan Associates Christie's (401) 855-0485



Listing information is provided by Participants of the State-Wide MLS of Rhode Island, Inc. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2026, State-Wide MLS of Rhode Island, Inc.
Last checked: 2026-01-10 02:20 AM UTC