REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sheena Ruggirello

sheena.ruggirellos@gmail.com +1(860) 222-4734

$2,195,000

Est. payment - /mo

9 Beds

7 Baths

4,165 SqFt

Save Virtual Tour

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,165 sqft

Price per Sqft $527

Subdivision Downtown - Fifth Ward

MLS Listing ID 1419872

Style Stacked

Bedrooms 9

Full Baths 6

Half Baths 1

HOA Y/N No

Abv Grd Liv Area 4,165

Year Built 1918

Annual Tax Amount $9,428

Tax Year 2025

Lot Size 2,787 Sqft

Acres 0.064

Property Sub-Type Multi Family

Property Description

Located in the heart of Newport's vibrant Lower Thames Street district, 624-626 Thames Street presents a rare opportunity to own a three-unit income-producing property in one of the city's most desirable locations. Updated living spaces blend modern finishes with Newport charm, while the first-floor unit is currently configured for residential use and offers additional value-add potential. Off-street parking for up to five vehicles and a detached garage provide amenities rarely found downtown. Significant property improvements include a new roof in 2022, replacement of the boiler and hot water tank in 2023, and updated electrical service. Situated just steps from Newport Harbor, renowned restaurants, shopping, and attractions, the property offers exceptional flexibility and income potential while combining residential versatility with commercial potential in the Limited Business (LB) Zone, creating opportunities for future use and configuration subject to buyer due diligence and applicable approvals. Property benefits from a valid Transient Guest Facility license, allowing for legal short-term rental operations in accordance with applicable state and local regulations.

Location

State RI

County Newport

Community Downtown - Fifth Ward

Rooms

Basement Full, Interior Entry, Unfinished

Interior

Heating Baseboard, Electric, Gas, Hot Water

Cooling Window Unit(s)

Flooring Hardwood

Inclusions Units 2 and 3 have short term rental registrations in place. Income numbers for the breakdown of units 2 and 3 are based on the total yearly gross rental income of $159, 106 for both units, divided into monthly amounts. Exact income varies based on the month. Unit 1 has been a yearly rental for multiple years and will be vacant as of September 1, 2026. Buyer to do all due diligence for their own STR permits upon ownership.

Fireplace No

Appliance Gas Water Heater

Laundry In Unit

Exterior

Parking Features Attached

Garage Spaces 1.0

Utilities Available Sewer Connected

Total Parking Spaces 6

Garage Yes

Building

Sewer Connected, Public Sewer

Water Connected, Public

Architectural Style Stacked

Structure Type Shingle Siding

New Construction No

Others

Senior Community No

Tax ID 626THAMESSTNEWP

Virtual Tour https://tour.RiLiving.com/626-Thames-Street-Newport-RI-02840

Read Less Info

Listed by Our Real Estate

Nearby School & Business

Get More Information

Sheena Ruggirello

+1(860) 222-4734

Agent | License ID: CN234452

Agent License ID: CN234452

Quick Search

626 Thames ST Newport, RI 02840

Sheena Ruggirello

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby School & Business

Get More Information