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Caitlin Pannone

Engel & Völkers

caitlin.pannone@engelvoelkers.com +1(401) 258-3331

$ 1,095,000

Est. payment -/mo

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2801 East Main RD Portsmouth, RI 02871

0.3 Acres Lot

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Key Details

Property Type Commercial

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 1424933

Style Stacked

HOA Y/N No

Year Built 1887

Annual Tax Amount $7,164

Tax Year 2025

Lot Size 0.300 Acres

Acres 0.3

Property Sub-Type Commercial

Property Description

Well-maintained five-unit multifamily property, zoned commercial, consisting of two separate buildings. The main building at 2803 East Main Road has 3323 sq ft of living space containing four one-bedroom apartments, while the second 959 sq ft building at 2801 East Main Road is a separate two-bedroom residence. The separate buildings provide flexibility for investors as well as owner-occupants. Each unit has its own individual heating and hot water system, with tenants responsible for most utilities. Current rents are below market, providing an opportunity to increase rental income through future rent adjustments. Ample parking is also available. The existing five-unit configuration, separate buildings, individual systems, and established rental income provide a solid foundation for an investor looking to add to a multifamily portfolio or an owner-occupant seeking rental income from the additional units.

Location

State RI

County Newport

Zoning C

Rooms

Basement Full

Interior

Heating Baseboard, Forced Air

Cooling Window Unit(s)

Laundry Common Area, Laundry Room

Exterior

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

Utilities Available Natural Gas Available, Natural Gas Connected

Street Surface Asphalt

Total Parking Spaces 6

Building

Foundation Combination

Sewer Septic Tank

Water Connected

Architectural Style Stacked

Structure Type Frame

New Construction No

Others

Tax ID 28012803EASTMAINRDPORT

Virtual Tour https://tour.RiLiving.com/2801-East-Main-Road-Portsmouth-RI-02871--1424933

Listed by Hogan Associates Christie's

Caitlin Pannone

Advisor

+1(401) 258-3331

Caitlin Pannone

2801 East Main RD Portsmouth, RI 02871

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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2801 East Main RD