Date
Details
Price
Change
Source
12/18/2025
Listed
$1,850,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/30
$1,850,000
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1/30
Property Description
Exceptional investment property in the heart of Newport's tourist district. 87 Spring Street is a 4-unit multifamily featuring 3 Fully City Licensed Short Term Rental units and 1 year round tenancy apartment. The licensed short-term rental units are turnkey and ready to continue generating revenue, while the long-term tenant provides reliable baseline income. Profit and Loss statements are available for review; gross projected income for 2025-2026 $203,600. BEING SOLD as a package with 69 Spring Street (MLS #1401952) for $3,950,000. Reach out today to schedule a tour.
Full Property Details
Full Property Details for 87 Spring St
General
- Price: $1,850,000
- Taxes: $10,696 (2024)
- Status: Active
- Type: Apartment
- Source: STWMLS
- MLS ID: 1401961
- Updated: 12/18/2025
- Added to Site: 29 day(s) ago
Interior
- Number of Rooms: 20
- Appliances: Oil Water Heater
- Flooring: Ceramic Tile, Hardwood, Laminate
Rooms
Bathrooms
- Total Bathrooms: 4
- Full Bathrooms: 4
Bedrooms
- Total Bedrooms: 7
Other Rooms
- Laundry: In Unit
Parking
- Parking Features: No Garage
Location
- County: Newport
Heating & Cooling
- Air Conditioning: Yes
- Cooling Type: Window Unit(s)
- Heating Type: Hot Water, Oil
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- # Buildings: 1
- Structure Type: Apartment
- Detached/Attached: Detached
- Construction: Plaster
- Basement: Yes
- Basement Desc.: Full, Unfinished, Walk-Out Access
- Stories/Levels: 3
- Building Size: 2906
- Finished Total: 2,906 Sq. Ft.
- Finished Above Grnd: 2,906 Sq. Ft.
- Year Built: 1898
- Property Condition: Fixer
Lot Features
- Lot Size (Acres): 0.036
- Lot Size (Sq. Ft.): 1,568
- Lot Size: 1568
Financial Considerations
- Operating Expenses: $68,821
- Tax Amount: $10,696
- Tax Year: 2024
Disclosures and Reports
- Property ID: 87SPRINGSTNEWP
- Lot Number: 75
Listed by Kirby & Kirby
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Listing agent
— 87 Spring St —
Kirby & Kirby
NMLS#: 1598647Get Pre-Approved Today
Schools
Schools serving 87 Spring St
School District:Newport School District, Newport, RI
| Name | Grades | Distance |
|---|---|---|
Rogers High School 15 Wickham Road, Newport, RI 02840 | 9-12 | 1.4 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 87 Spring St
Estimate the Cost
Estimate the Cost for 87 Spring St
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87 Spring Street, Newport, RI 02840 (MLS# 1401961) is a Apartment property with 7 bedrooms and 4 full bathrooms. 87 Spring Street is currently listed for $1,850,000 and was received on December 18, 2025. Want to learn more about 87 Spring Street? Do you have questions about finding other Apartment real estate for sale in Newport? You can browse all Newport real estate or contact a Coldwell Banker agent to request more information.