501 Spring Street, Newport, RI 02840 - Photo 1

1/1

$1,800,000

Sold
Closed
Multi-Family
3 Units
10 Total Beds
0.0898 Acres

1/1

Property Description

Large 3-family in downtown Newport. This buildings combination of size, location, parking, and rentability make it a great asset for anyone's Real Estate portfolio. This building encompases three large apartments for a total of 10 beds, 6 baths, and 6 parking spots. The 1st floor is a 3 bed 2 bath and it's kitchen is renovated. The 2nd floor is a 3 bed 2 bath and it has a renovated bathroom. The 3rd floor is a 4 bed 2 bath and it has a new granite counter top, as well as charming sky lights and exposed beams. All three apartments come with 2 parking spots, hardwood floors, and the furniture in the units. All apartments have been fully rented for the past decade and are currently rented through May 2026, making this property is perfectly positioned for investors looking to capitalize on Newports dynamic market.

Full Property Details

Full Property Details for 501 Spring St

General

Sold For: $1,800,000
Taxes: $11,447 (2025)
Status: Closed
Type: Multi-Family
Source: STWMLS
MLS ID: 1391997
Added to Site: 165 day(s) ago

Interior

Number of Rooms: 21
Interior Features: Interior Steps, Skylights, Furnished
Number of Fireplaces: 1
Fireplace(s): None
Appliances: Dryer, Dishwasher, Gas Water Heater, Microwave, Oven, Oil Water Heater, Range, Refrigerator, Washer
Furnished: Yes
Furnishings: Furnished
Flooring: Hardwood

Rooms

Bathrooms

Total Bathrooms: 6
Full Bathrooms: 6

Bedrooms

Total Bedrooms: 10

Other Rooms

Laundry: Common Area

Additional Information

Tennis: Yes

Parking

Total Spaces: 6
Parking Features: No Garage

Location

County: Newport
Subdivision: Yachting Village
Near Highway: Yes

Heating & Cooling

Cooling Type: None
Heating Type: Forced Air, Gas, Oil

Utilities

Sewer: Connected
Water: Connected
Utility Description: Sewer Connected

Structural Information

# Buildings: 1
Detached/Attached: Detached
Construction: Plaster, Clapboard, Shingle Siding
Basement: Yes
Basement Desc.: Exterior Entry, Full, Interior Entry, Unfinished
Windows: Skylight(s)
Stories/Levels: 3
Building Size: 4068
Finished Total: 4,068 Sq. Ft.
Finished Above Grnd: 4,068 Sq. Ft.
Year Built: 1900

Lot Features

Lot Size (Acres): 0.0898
Lot Size (Sq. Ft.): 3,912
Lot Size: 3912

Financial Considerations

Operating Expenses: $26,588
Tax Amount: $11,447
Tax Year: 2025

Disclosures and Reports

Property ID: 501SPRINGSTNEWP
Lot Number: 92

Listed by William Raveis Inspire
Sold by William Raveis Inspire

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— 501 Spring St —

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Schools

Schools serving 501 Spring St

School District:Newport School District, Newport, RI

Name	Grades	Distance
Rogers High School 15 Wickham Road, Newport, RI 02840	9-12	0.7 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 501 Spring St

Date

Details

Price

Change

Source

10/15/2025

Sold

$1,800,000

-4%

MLS

8/06/2025

Listed

$1,875,000

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

124 Aquidneck Ave, Middletown, RI 02842 - Photo 1

Just Listed

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Manufacturing
Active

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Just Listed

$840,000

310 Corey Ln Middletown, RI 02842

Condo
Active
Updated 1 day ago

3
Beds
2
Total Baths
1,521
Sq. Ft.

844 Boston Neck Rd, Narragansett, RI 02882 - Photo 1

Just Listed

$737,900

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Single Family
Active
Updated 3 days ago

3
Beds
2
Total Baths
1,080
Sq. Ft.

Listed by David Boisvert (401) 533-2976

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Just Listed

$799,900

39 Elizabeth Rd Narragansett, RI 02882

Single Family
Active
Updated 3 days ago

2
Beds
1
Total Bath
952
Sq. Ft.

318 Mitchell's Ln, Middletown, RI 02871 - Photo 1

Price Reduced

-$51,000 (-7.85%)

$599,000

318 Mitchell's Ln Middletown, RI 02871

Single Family
Active
Updated 3 days ago

3
Beds
1
Total Bath
1,205
Sq. Ft.

39 Walcott Ave, Jamestown, RI 02835 - Photo 1

Price Reduced

-$500,000 (-9.27%)

$4,895,000

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Single Family
Active
Updated 1 day ago

7
Beds
4
Total Baths
3,818
Sq. Ft.

400 Schooner Ave, Jamestown, RI 02835 - Photo 1

Price Reduced

-$14,000 (-1.75%)

$785,000

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Single Family
Active
Updated 1 day ago

3
Beds
1
Total Bath
1,500
Sq. Ft.

620 Dry Bridge Rd, North Kingstown, RI 02852 - Photo 1

Price Reduced

-$40,000 (-13.34%)

$259,900

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Single Family
Active
Updated 3 days ago

2
Beds
1
Total Bath
794
Sq. Ft.

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Sold

$1,985,000

8 Kerins Terrace Newport, RI 02840

Single Family
Closed

3
Beds
3
Total Baths
2,592
Sq. Ft.

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Sold

$1,795,000

45 Houston Ave Newport, RI 02840

Single Family
Closed

4
Beds
3
Total Baths
2,381
Sq. Ft.

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Sold

$1,695,000

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Single Family
Closed

4
Beds
4
Total Baths
1,950
Sq. Ft.

8 Sylvan St, Newport, RI 02840 - Photo 1

Sold

$1,757,000

8 Sylvan St Newport, RI 02840

Single Family
Closed

4
Beds
3
Total Baths
2,467
Sq. Ft.

501 Spring Street, Newport, RI 02840 (MLS# 1391997) is a Multi-Family property that was sold at $1,800,000 on October 15, 2025. Want to learn more about 501 Spring Street? Do you have questions about finding other Multi-Family real estate for sale in Newport? You can browse all Newport real estate or contact a Coldwell Banker agent to request more information.

501 Spring St Newport, RI 02840