Location drives value in Newport, and 32 Houston Avenue delivers on that front. This legal three-family property sits just six doors from King Park and the waterfront in the heart of the Fifth Ward. From the front steps, it’s a short walk to the harbor, public dinghy docks, and nearby marinas, with easy access to the New York Yacht Club and Ida Lewis Yacht Club. Downtown restaurants, shops, and waterfront favorites are all within walking distance, and the cove beaches along Newport’s southern shoreline are an easy bike ride away.
Houston Avenue is one of the more established and tightly held streets in the neighborhood. Properties here trade less frequently, particularly those on larger parcels. Set on an 8,500+ square foot lot, 32 Houston stands out as one of the larger lots in the immediate area. The size allows for ample off-street parking and provides flexibility for future improvements or expansion, subject to approvals.
The building is configured as three separate units. The first floor is a recently updated three-bedroom apartment with in-unit laundry. The second and third floors each offer well-maintained one-bedroom units, with shared laundry in the basement. Two of the three units currently have leases in place, offering immediate rental income.
For buyers focused on investment, this is an income-producing three-family in a proven rental location close to the water. For those looking longer term, the property offers optionality. It can continue as a multi-family asset, be renovated to increase rental performance, or potentially be converted into a large single-family residence in a prime Fifth Ward setting.
Inventory remains limited. There are currently only 12 multi-family properties listed for sale in Newport, and just three of those are priced under $1.4 million. Opportunities that combine location, lot size, and flexibility at this level are increasingly difficult to find.32 Houston Avenue presents a straightforward opportunity: acquire a well-located three-family property six doors from the harbor and invest in both current income and future potential in one of Newport’s most established neighborhoods.
For more information or to schedule a private showing, please contact Tyler Bernadyn of RE/MAX Results. The property will be open to qualified buyers on Saturday, February 28 from 12:00-2:00 pm. Tyler can be reached directly at 401-241-1851 or via email at TylerB@resultswithremax.com. Here’s a link to the listing.