Newport RI Multi-Family Real Estate, Homes for Sale

Welcome to 22 24 Gilroy Street, a wonderful opportunity in Newport's highly desirable Fifth Ward neighborhood! Situated on a quiet corner lot just moments from Thames Street's restaurants, shops, and Newport Harbor, this legal two-family, side by side duplex offers exceptional versatility in a sought-after coastal setting. Featuring 1,811 square feet of living space on a generous 5,880-square-foot lot, the property consists of a three-bedroom, 1.5-bath unit and a two-bedroom, one-bath unit. Each residence enjoys its own enclosed entry porch, private rear entrance, and access to a private full basement with laundry facilities. Separate heating, electric, and water systems provide added convenience and independence for each unit. Whether you're looking to occupy one unit while generating rental income from the other, accommodate extended family, enjoy a Newport getaway, or explore the possibility of converting the property into a spacious single-family residence, the possibilities are numerous. A particularly appealing feature is the two-car garage, complemented by two additional off-street parking spaces a valuable amenity in Newport. Enjoy the convenience of nearby parks, the waterfront, historic Ocean Drive, and Fort Adams, all while appreciating the charm of an established residential neighborhood. Combining location, flexibility, and investment potential, 22 24 Gilroy Street presents an opportunity to enjoy the best of Newport living.

22 Gilroy Street 24, Newport

Listing courtesy of Lila Delman Compass. Contact: 401-862-0784

$2,600,000

8 Beds ⋅ 3 Baths

A unique opportunity in one of Newport's most historic and desirable neighborhoods! Located on The Point, this substantial multi-family property offers an extraordinary combination of space, land, and potential. Spanning three floors with nearly 3,000 square feet of living space, the property features two legal units, totaling 8 bedrooms and 3 full bathrooms, with one full bathroom on each floor. The existing layout also offers the potential to be easily converted into an impressive single-family residence, providing flexibility for a variety of uses and visions. The oversized lot, measuring over 7,500 square feet, is an exceptional find for the area and provides possibilities rarely found in this location. Additional highlights include a four-bay garage and an expansive driveway with parking for approximately eight vehicles. Just blocks from downtown Newport, the Newport Shipyard, harbor, shops, and restaurants, with easy access to the Newport Bridge, the location offers convenience to everything Newport has to offer. This property is in need of a complete renovation and is ready for its next chapter. Whether you're an investor, contractor, or buyer with a vision, this is a rare opportunity to reimagine a property in one of Newport's most sought-after neighborhoods. Bring your ideas and unlock the full potential of this exceptional property.

27 Elm Street, Newport

Listing courtesy of Hogan Associates Christie's. Contact: 401-954-8738

$1,850,000

6 Beds ⋅ 6 Baths

VERSATILE SIDE-BY-SIDE DUPLEX in PRIZED NEWPORT LOCATION. This charming shingle-style home is perfectly configured with 2 side-by-side duplex residences spanning over 1700 sf each (3500+ sf total), each side featuring 3 bedrooms (plus a convertible 4th bedroom), 2.5 baths, basement, and lovely outdoor space. Nestled between the Kay-Catherine and Historic Hill districts, Mount Vernon is a quiet street, historically intact with well-maintained homes - yet just moments from Downtown Newport, the Harbor, Broadway, and plenty of restaurants, shopping and cafes. Immaculately maintained, this property retains much of its original detail and character, with a mix of well-executed modern touches throughout. Both sides feature front porches, kitchens with stainless steel appliances, in-unit laundry, basement storage, recently updated gas heating and ample closets throughout. Plus a 2-car tandem driveway and ample on-street parking make life easy. The property is offered in move-in condition, with Unit 37 delivered vacant and Unit 35 occupied by an established annual tenant through June 2027. Whether envisioned as a primary residence with supplemental rental income, a multigenerational property, or a long-term investment, this versatile offering presents a compelling opportunity in one of Newport's most sought-after residential locations.

35 Mount Vernon Street 37, Newport

Listing courtesy of Gustave White Sotheby's Realty. Contact: 401-849-3000

$729,000

4 Beds ⋅ 2 Baths

Bring this grand two-family home back to its former beauty! Filled with character and potential, this legal two-family offers a wonderful opportunity for an investor, contractor, or owner-occupant ready to take on a renovation. Behind the years of wear are hardwood floors, beautiful original woodwork, charming architectural details, spacious rooms, high ceilings, and covered porches. The large walk-up third floor offers exciting potential for additional living space. There is plenty here worth preserving, and with the right vision and improvements, this property has the potential to truly shine again. Whether renovating for investment, rental income, or creating a home of your own, this is an opportunity to restore a distinctive property while building value. Conveniently located near Kay Street, Broadway's restaurants and shops, a close drive to the Naval Base with easy access in and out of Newport. Property is being sold AS-IS; buyer to conduct all due diligence.

7 Princeton Street, Newport

Listing courtesy of Our Real Estate. Contact:

$1,150,000

6 Beds ⋅ 3 Baths

A spacious two-family property ideally located in the heart of Newport's Yachting Village, 10 Hammond Street presents a unique opportunity in one of Newport's most desirable locations. The property offers a proven seasonal rental history, strong income-producing potential, and the flexibility for continued investment or a future single-family conversion. The property features a first-floor two-bedroom, one-bathroom apartment and a second- and third-floor four-bedroom, two-bathroom apartment. Each unit has separate utilities and heat systems. Additional amenities include off-street parking, a detached two-car garage, and desirable outdoor space valuable features in downtown Newport. For an investor, 10 Hammond Street offers the opportunity to acquire an established two-family property in a highly sought-after location. For an owner-occupant, the existing configuration provides the potential to transition the property into a more substantial single-family residence while retaining the benefits of private parking, a two-car garage, and outdoor space. Conveniently located near Newport's shops, restaurants, waterfront, and downtown attractions, 10 Hammond Street combines location, rental income potential, parking, garage space, and the flexibility to meet a variety of future ownership goals.

10 Hammond Street, Newport

Listing courtesy of Teri Degnan RE & Consulting. Contact:

$2,850,000

8 Beds ⋅ 6 Baths

Rare opportunity to own the entire Sancerre property in Newport's sought-after Yachting Village. This new-construction property offers three beautifully appointed residences, providing strong rental income potential and exceptional flexibility for investment, personal use, or multi-generational living. Each residence features custom kitchens, quality finishes, marble-appointed baths, hardwood and tile flooring, central air, in-unit laundry, and its own dedicated off-street parking space. Multiple decks and porches provide inviting outdoor space, while the property's location places you just steps from Thames Street, Newport's waterfront, restaurants, shops, marinas and King Park. With three separate living spaces, the property offers the ability to generate income from individual residences or accommodate larger groups, while also providing an ideal setup for extended or multi-generational living. Enjoy Newport together while maintaining separate private spaces for family and guests. A unique opportunity to own a turnkey, income-producing property in the heart of Newport, combining new construction, exceptional location, dedicated parking and the flexibility to enjoy the property for generations to come.

9 Dearborn Street, Newport

Listing courtesy of RE/MAX Results. Contact:

$1,350,000

8 Beds ⋅ 3 Baths

Just off Upper Broadway, this well-maintained three-family home offers two spacious 3-bedroom apartments and an updated 2-bedroom apartment, all featuring modern improvements. Major capital expenditures have already been addressed, making this a truly turnkey opportunity. Recent improvements include a newer roof, clapboard siding, windows and exterior PVC trim, gutters, chimney caps, updated electrical, plumbing and heating systems, a new sewer main, sump pump, EV charging station, and Trex decking. The individual units were also updated just a few years ago. Additional highlights include five off-street parking spaces, a two-car garage, deck, and garden area. Ideally located just off Broadway, the property is close to restaurants and shops, the U.S. Naval War College, downtown Newport, and convenient highway access. Lastly, this property is eligible for a 2/1 interest rate buydown through AnnieMac Home Mortgage. Qualified buyers may be able to start with an interest rate 2% below the prevailing rate in year one and 1% below in year two, subject to lender approval and program guidelines. Contact the listing agent for additional details.

5 Elliot Place, Newport

Listing courtesy of Edge Realty RI. Contact:

$1,225,000

6 Beds ⋅ 4 Baths

Welcome to 31 Prescott Hall a stunning, newly constructed two-family residence nestled in Newport, Rhode Island. This exceptional property seamlessly blends modern design with comfortable living, offering a rare investment opportunity or the ideal setup for owner-occupants seeking rental income. It is also a wonderful option for those looking to keep extended family close, provide a private space for visiting guests, or create a flexible multi-generational living arrangement while maintaining privacy. Thoughtfully designed with hardwood floors throughout, abundant natural light, and brand-new finishes, appliances, and amenities, every space feels bright, welcoming, and move-in ready. The larger upper unit features soaring vaulted ceilings, four bedrooms, two full bathrooms, and mini-split heating and cooling throughout, creating an open and airy living environment. The first-floor unit offers two bedrooms and two full bathrooms with the same high-quality finishes. Outside, enjoy a generous, fully fenced backyard complete with an outdoor dining area and fire pit perfect for entertaining family and friends. Ideally located just minutes from the Newport Bridge, the home is within walking distance of favorite local spots like CHOMP and Nitro Bar, while also being moments from the waterfront, including swimming at Van Zandt Pier, Newport Shipyard, and several nearby marinas making it an exceptional location for enjoying Newport's coastal lifestyle.

31 Prescott Hall Road, Newport

Listing courtesy of Kirby & Kirby. Contact:

$2,498,888

6 Beds ⋅ 3 Baths

This home has major income flexibility. The main residence has 4 bedrooms and a private backyard. This Historic Hill home is in a sought after summer season rental area as well as War College in the academic year. The second residence is a modern two bedroom penthouse with a private patio and coded door for private access with a third floor balcony enjoying a view of the Pell Bridge. The high vaulted ceiling catch light filled space beautifully. This unit was vetted by Stay Newport as a very desirable summer rental. Owners can choose to enjoy either space while earning a tidy income in the other space. There are houses to be admired, and houses made for living. 16 Sherman Street is decidedly both. This handsome 1856 Italianate in Newport's Historic Hill offers approximately 3,600 square feet, six bedrooms, three full baths and gracious spaces made for gathering. Brick patios and mature landscaping create a private garden for long lunches and summer evenings, while the third-floor balcony offers western views toward the Pell Bridge. The legal two-residence configuration provides exceptional flexibility. Recent improvements include a new roof, updated electrical systems, and extensive landscaping. Two off-street parking spaces and EV charging add convenience. From this in-town location, Bellevue Avenue, the harbor, Thames Street, restaurants and shops are within easy reach.

16 Sherman Street, Newport

Listing courtesy of William Raveis Inspire. Contact:

$790,000

4 Beds ⋅ 3 Baths

Excellent one level duplex at an amazing price offers two spacious residential units, strong rental income, ample parking, and future expansion potential. Unit A features 2 bedrooms and 2 full baths, while Unit B offers 2 bedrooms and 1 full bath. Both units have desirable features including fireplaces, hardwood floors, large kitchens, and comfortable single-level living. Each side has separately metered gas and electric and a full, concrete basement. Currently producing $4,500 per month or $54,000 annually in gross rental income. Excellent additional rent potential with minor cosmetic improvements and updates. An outstanding opportunity for an owner-occupied duplex, multifamily investment property, or year-round rental. Conveniently located near the Naval Station Newport, downtown Newport, local beaches and waterfront access, making this an attractive option for military personnel, professionals, commuters, and long-term renters seeking proximity to Newport and Narragansett Bay.

23 Butler Street, Newport

Listing courtesy of Flagship Real Estate Advisors. Contact:

$1,195,000

4 Beds ⋅ 3 Baths

350 Broadway is a beautiful Queen Anne Victorian positioned on a corner lot that makes an immediate impression with a large front porch, signature rounded turret, patterned shingles, and classic architectural detailing. The property lives comfortably as a 3-bedroom, 2-bathroom single-family home with the added benefit of a private 3rd-floor one-bedroom apartment with its own entrance. Hardwood floors and original era-specific details carry throughout the main residence. The 1st floor features a kitchen with pantry storage, a formal dining room, living room with French doors, and cozy library with a gas fireplace, built-in bookcases, and ornate wooden mantels. A recently renovated full bathroom adds convenience to this level. A sun-filled entry, with a mahogany door and open staircase leads to the 2nd floor and a landing with more built-ins. 3 bedrooms include an impressive corner room filled with natural light from tall, rounded windows. A large hallway walk-in closet, laundry room, and renovated tiled bathroom complete this level. The 3rd-floor apartment provides flexible space for guests, extended family, rental income, or a private home office. Outside, the wraparound porch offers an inviting place to relax or entertain, and a one-car garage and off-street parking are benefits. Recent investments include a 3-year-old roof and gutters, new windows, 200-amp electrical service, and updated bathrooms. Not subject to HDC guidelines or historic restrictions.

350 Broadway, Newport

Listing courtesy of RE/MAX Results. Contact:

$899,000

5 Beds ⋅ 3 Baths

Located in Newport's vibrant North End, this inviting two-family home offers the perfect location, with income possibilities! The main-level residence features three bedrooms and one-and-a-half baths, gleaming hardwood floors, and a bright, spacious kitchen that opens to a covered deck an ideal spot for morning coffee, summer dining, or relaxing. The lower-level residence includes two bedrooms and one full bath, offering additional flexibility for rental income, extended family, or guests. Updated siding, shared laundry, off-street parking for three cars, and a spacious yard add to the home's appeal. Conveniently located near the Navy Base, downtown Newport, and Broadway's vibrant coffee and dining scene, this versatile property presents an exciting opportunity for an owner-occupant or investor to enjoy all that Newport has to offer.

9 Burdick Avenue, Newport

Listing courtesy of SERHANT.. Contact:

$995,000

6 Beds ⋅ 2 Baths

Nestled on the quiet, dead-end of Kilburn Court street, this charming two-family residence offers the ultimate Newport lifestyle with incredible investment updated. Located right off Broadway Street close to upper Thames, the property is within close walking distance to shops, restaurants, and Downtown. The two units have identical three bedroom layouts. The first floors consists of the kitchen, a living, and dining area while the top floors consist of the bedrooms. Good storage space in the basements for both units.

15 Kilburn Ct Court, Newport

Listing courtesy of Edge Realty RI. Contact:

$995,000

2 Beds ⋅ 2 Baths

Rare mixed-use opportunity in the heart of Newport's vibrant Broadway district. Prominently positioned on a highly visible corner lot, 440 Broadway offers a versatile combination of commercial and residential space in one of the city's most desirable and walkable neighborhoods. The first-floor professional office space will be available this fall, offering an ideal opportunity for a business owner to establish a presence in this thriving commercial corridor while benefiting from residential income above. The second-floor unit features two bedrooms and one bath with hardwood floors, high ceilings, abundant natural light, and a private deck. Additional features include a detached two-car garage, two additional off-street parking spaces, private yard, full basement, and walk-up attic. Ideal for an investor, business owner, or owner-occupant, the property also offers potential for conversion back to a single-family residence, subject to applicable approvals. A unique and flexible opportunity in the heart of Newport. Whether added to an existing portfolio or acquired as a strategic owner-user investment, 440 Broadway presents an incredible opportunity to own a versatile mixed-use asset in one of Newport's most established commercial corridors.

440 Broadway, Newport

Listing courtesy of Compass. Contact: 608-628-9283

$2,195,000

3 Beds ⋅ 5 Baths

424 Thames Street presents a rare opportunity to acquire a mixed-use income-producing property in the heart of Newport's vibrant Lower Thames district. The property features two street-level commercial spaces currently occupied by established retail and service tenants, complemented by a spacious three-bedroom, three-bath residential unit currently operated as a short-term rental. This diversified configuration offers multiple income streams within one of Newport's most active commercial and hospitality corridors. Recent improvements include fresh exterior paint and new decking, highlighted by an incredible rooftop deck offering views of Newport Harbor and the Pell Bridge. With approximately 2,672 square feet across three units, one off-street parking space, and Limited Business (LB) zoning, 424 Thames combines high-visibility commercial frontage with an established residential hospitality component. Ideally situated just steps from Newport Harbor, restaurants, shopping, nightlife, and downtown attractions, this is a unique opportunity to own a versatile income-producing property in the heart of Newport's waterfront district.

424 Thames Street, Newport

Listing courtesy of Our Real Estate. Contact:

$1,225,000

3 Beds ⋅ 3 Baths

Yachting Village charmer! So much to offer in the Heart of the Historic Downtown Newport! This versatile 2 family home can easily be converted to a accommodate a single family, or the extra unit serves as a minimum monthly rental for income or lovely Guest Quarters. The warm and inviting Dining Room at 15 Dennison has antique wood wainscoting from another Newport mansion creating an old world feel. Beautiful Gardens are meticulously maintained by the Owner, a Master Gardener. You will love the soothing interior, including the Library and rear deck overlooking plush Gardens and the Samuel Whitehorne Museum Grounds. Original hardwood floors throughout. The Lower Level, which offers an additional 1,175 square feet of RADIENT HEATED concrete floors, has operated as a Beloved Book Bindery for many years. This added heated space creates much potential for added living space, a home GYM, guest quarters or other possibilities!

15 Dennison Street 17, Newport

Listing courtesy of Hogan Associates Christie's. Contact: 401-862-2498

$1,850,000

6 Beds ⋅ 5 Baths

Known as The Cozzens House, 57 and 59 Farewell Street is widely believed to be America's first duplex. Built circa 1750 by brothers Joseph and William Cozzens, it was described by historian Antoinette Downing as a rare and significant example of Colonial era multifamily architecture. An original Operation Clapboard restoration, it has been featured in books and magazines and held by the same family since 1969. The side by side residences mirror one another in scale and character. Each offers formal living and dining rooms, a study with built in bookcases, high ceilings, original staircases, and fireplaces with tile surrounds, twelve in all. 59 Farewell adds a finished third floor with bedrooms and a bath. A recent structural engineer's report found no significant structural deficiencies. Outside the Historic District, the property offers flexibility for improvements and can be converted to condominiums without requiring zoning approval, ideal for income, condo conversion, multigenerational living, or owner occupancy with rental income. On a corner lot at Farewell and Warner Streets, a walled garden offers a private retreat. Off street parking for three, with potential for six. Minutes to downtown Newport and the harbor. Shown by appointment. Inspection and structural reports available. Sold as is.

57 Farewell Street, Newport

Listing courtesy of Gustave White Sotheby's Realty. Contact: 401-849-3000

$1,150,000

6 Beds ⋅ 3 Baths

Seller offering financing incentives or rate buy down assistance with acceptable offer. Welcome to 19-21 Princeton Street, a beautifully renovated side-by-side, townhouse-style multi-family property offering modern updates, coastal charm, and an exceptional Newport location. The property features two thoughtfully designed units, each offering two levels of living space, open-concept layouts, and bright, inviting interiors. Recent improvements include updated kitchens and bathrooms, new PVC plumbing, all-new windows, full electrical rewiring, and professionally waterproofed basement space. Each unit also offers private outdoor space overlooking a spacious backyard, with off-street parking adding convenience. Located on a quiet dead-end street just minutes from downtown Newport, renowned restaurants, shops, waterfront, and beaches, 19-21 Princeton Street offers the flexibility of owner-occupied living, multi-generational use, or income-producing investment in one of Rhode Island's most sought-after destinations. Can be delivered as two separate, legally subdivided condos--perfect for a joint family purchase or a partnership.

19 Princeton Street 21, Newport

Listing courtesy of SERHANT.. Contact:

$1,999,000

6 Beds ⋅ 7 Baths

Rarely does The Point offer this combination of scale, land, parking, and flexibility. Set on an oversized .19-acre lot with six off-street parking spaces, 12 Poplar Street is a beautifully renovated 4,012-square-foot residence with a compound-like configuration just moments from the harbor, waterfront parks, and downtown. The bright main residence features high ceilings, hardwood floors, abundant natural light, and a well-appointed kitchen with top-of-the-line appliances, marble countertops, and walk-in pantry. The first-floor primary suite offers an en-suite bath, walk-in closet, and enclosed front porch. Upstairs are three additional bedrooms, three full baths, and a second living area. The third-floor cupola provides flexible space for an office, studio, fitness area, or guest space. A large basement offers ample storage. Beyond the main residence, a private apartment with its own entrance and 12 1/2 Poplar Street, a detached one-bedroom, one-bath cottage with independent heating, electric, and water, add versatility. The cottage has a long history of rental use and offers space for guests, work, studio use, or rental use, subject to applicable regulations. Landscaped grounds, generous parking, and an unusually large lot create a rare sense of space in The Point. Whether envisioned as a distinctive Newport residence, compound-like retreat, or property offering multiple possibilities under one roof, 12 Poplar Street is a rare opportunity in The Point.

12 Poplar Street, Newport

Listing courtesy of Our Real Estate. Contact:

$2,195,000

9 Beds ⋅ 7 Baths

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.

626 Thames Street, Newport

Listing courtesy of Our Real Estate. Contact:

$5,900,000

5 Beds ⋅ 5 Baths

Offered for the first time in 50 years, now with a substantial reduction in price, this remarkable 1.6-acre Ledge Road property features a three-bed primary residence and a separate two-bed rental cottage in all, a legal two-family lot with noteworthy flexibility in a tried-and-true upscale residential Newport neighborhood. Tucked into a private expanse of green grass and towering trees behind the iconic southernmost bend of Bellevue Avenue, Tree Haven enjoys endless possibility in a locale that will never lose its coveted status among Newport's premiere addresses. A stone's throw from Bailey's Beach and the southwest terminus of the Cliff Walk, the Atlantic Ocean beckons from across the street. This listing radiates privacy, sophistication and temperament, a once-in-a-lifetime opportunity.

18 Ledge Road, Newport

Listing courtesy of Gustave White Sotheby's Realty. Contact: 401-849-3000

$1,860,000

8 Beds ⋅ 3 Baths

Located in one of Newport's most desirable and walkable neighborhoods, this well-maintained 8-bedroom, 3-bath property offers an outstanding opportunity for investors and owner-occupants alike. Just steps from Newport's vibrant downtown, renowned restaurants, waterfront attractions, and local amenities, the location is second to none. This spacious home features eight bedrooms, three full baths, and a flexible floor plan with strong income-producing potential. Meticulously cared for over the years, the property combines classic Newport charm with the convenience of being within walking distance of everything the city has to offer. Whether you're seeking a high-performing investment property, seasonal rental opportunity, multi-generational residence, or a combination of personal use and rental income, this versatile property presents endless possibilities in a highly sought-after market. Enjoy the best of coastal living in the heart of Newport where historic charm, beautiful waterfronts, world-class dining, and year-round attractions are right outside your door.

34 Bull Street, Newport

Listing courtesy of William Raveis Inspire. Contact:

Browse All Newport RI Multi-Family Properties for Sale

Newport Multi-Family Real Estate

How much is your home worth?

How much is your home worth?