$485,000
$475,000
2.1%For more information regarding the value of a property, please contact us for a free consultation.
4 Beds
2 Baths
2,957 SqFt
SOLD DATE : 10/16/2020
Key Details
Sold Price $485,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,957 sqft
Price per Sqft $164
Subdivision Island Park
MLS Listing ID 1262591
Sold Date 10/16/20
Bedrooms 4
Full Baths 2
HOA Y/N No
Abv Grd Liv Area 2,957
Year Built 1921
Annual Tax Amount $4,900
Tax Year 2020
Lot Size 5,662 Sqft
Acres 0.13
Property Description
Welcome to Cedar Cove as it is known by the locals and guests. This waterfront 2 family cottage is perfectly situated in Island Park and serene Blue Bill Cove. You and your tenants can't help but enjoy lounging on your own private Beach or walk to Beaches and any of the 8 restaurants along Park Ave. This property is conveniently located about 20 minutes from Downtown Newport, 30 minutes from Providence, and only a few miles from Middletown, Bristol, and Tiverton. Features include off street parking, an unattached garage, back yard pergola/patio, a deck for grilling or lounging overlooking the Cove, and a newly installed septic system. Flood insurance would be needed if mortgaged. Both apartments are furnished and currently occupied with tenants that have winter leases. In the summer months the owners often use one of the apartments and rent weekly or nightly to maximize rent via AirBnb and VRBO getting $300 to $400 per night in each apartment depending on the summer week. Available as a turnkey operation with furniture and essentials in place to operate. In total they consistently gross about $45,000 / $50,000 per year in rent. Call today for a private showing.
Location
State RI
County Newport
Community Island Park
Zoning R10
Rooms
Basement Exterior Entry, Full, Interior Entry, Unfinished
Interior
Interior Features Tub Shower
Heating Central, Forced Air, Oil, Zoned
Cooling None
Flooring Hardwood, Laminate, Vinyl
Fireplace No
Window Features Thermal Windows
Appliance Dryer, Dishwasher, Electric Water Heater, Microwave, Oven, Range, Refrigerator, Washer
Laundry Common Area
Exterior
Exterior Feature Deck, Porch, Patio, Paved Driveway
Parking Features Detached
Garage Spaces 1.0
Fence Fenced
Waterfront Description Beach Access,Beach Front,Water Access,Walk to Water,Waterfront
View Y/N Yes
View Saltwater, Water
Present Use Multi-Family
Porch Deck, Patio, Porch
Total Parking Spaces 4
Garage Yes
Building
Lot Description Waterfront
Foundation Combination, Concrete Perimeter, Stone
Sewer Septic Tank
Water Connected, Public
Structure Type Drywall,Aluminum Siding
New Construction No
Others
Senior Community No
Tax ID 15CEDARAVPORT
Financing Conventional
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