Homes for sale - 3 Carroll AVE, Newport, RI 02840

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Reza Lashkari

reza@llhomesteam.com +1(949) 826-8100

$ 3,395,000

Est. payment | -/mo

6 Beds

7 Baths

6,269 SqFt

Save Virtual Tour

$ 3,395,000

Est. payment | -/mo

Save Virtual Tour

6 Beds

7 Baths

6,269 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,269 sqft

Price per Sqft $541

Subdivision Fifth Ward

MLS Listing ID 1379788

Bedrooms 6

Full Baths 4

Half Baths 3

HOA Y/N No

Abv Grd Liv Area 6,269

Year Built 1905

Annual Tax Amount $14,134

Tax Year 2024

Lot Size 0.271 Acres

Acres 0.2712

Property Sub-Type Multi Family

Property Description

In perfect time to capitalize on the high season, 3 & 7 Carroll Avenue offer a rare opportunity for buyers looking to enter Newport's exclusive commercial mixed-use market zoned Limited Business. Properties like this rarely trade in Newport, especially in such a coveted location with 18 parking spaces and minimal competition. Situated in the heart of the vibrant Fifth Ward neighborhood, this property offers year-round exposure, ensuring steady income potential. Whether you choose to operate a high-end caf or restaurant, capitalize on short-term rentals, or explore redevelopment opportunities, this is an investment poised for long-term success. The buildings are positioned east-facing, allowing beautiful morning light to pour through the storefronts. Upstairs, the two residential units enjoy wonderful natural lighting throughout the day and into the evening, with warm sunsets casting over the back deck. Many upgrades have been made, including a full gut renovation of the third-floor unit, replacement windows, new flooring in the back commercial kitchen, and new exterior siding on the main building in 2024. Being the last commercial spaces before Fort Adams and the Ocean Drive beaches, the storefront has always served as a haven for consumers looking to avoid the downtown traffic. This property has a lot to offer and is truly a must-see to understand the opportunity.

Location

State RI

County Newport

Community Fifth Ward

Zoning LB

Rooms

Basement Full, Interior Entry, Unfinished

Interior

Interior Features Cathedral Ceiling(s), High Ceilings, Skylights, Stall Shower, Vaulted Ceiling(s), Furnished, Jetted Tub

Heating Baseboard, Electric, Hot Water, Oil

Cooling Ductless, Window Unit(s)

Flooring Ceramic Tile, Hardwood

Inclusions 7 Carroll Ave - All commercial appliances convey. 3 Carroll Ave / Viking cleaners - All laundry done off site at Polo Cleaners.

Furnishings Furnished

Fireplace No

Window Features Skylight(s)

Appliance Dryer, Dishwasher, Exhaust Fan, Microwave, Oven, Range, Refrigerator, Range Hood, Water Heater, Washer

Laundry In Unit

Exterior

Exterior Feature Deck

Community Features Golf, Highway Access, Marina, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s)

Utilities Available Sewer Connected

Waterfront Description Walk to Water

Handicap Access Accessible Approach with Ramp

Porch Deck

Total Parking Spaces 18

Garage No

Building

Lot Description Corner Lot

Story One

Foundation Combination, Concrete Perimeter, Stone

Sewer Connected

Water Connected

Level or Stories One

Structure Type Drywall,Brick,Shingle Siding,Vinyl Siding

New Construction No

Others

Senior Community No

Tax ID 37CARROLLAVNEWP

Virtual Tour https://tour.RiLiving.com/3-Carroll-Avenue-Newport-RI-02840

Listed by Gustave White Sotheby's Realty

+1(949) 826-8100

reza@llhomesteam.com

3 Carroll AVE Newport, RI 02840