111 Memorial Blvd W W, Newport RI 02840, Newport, Residential Income

Description

“THE BURBANKROSE GUEST HOUSE,” has all the charm and character that Newport is known for. Located in the heart of downtown, this property sits at the corner of Thames Street and Memorial Boulevard, across from the Red Parrot Restaurant. Beyond the location’s heavy foot traffic and street visibility, this property is also in a General Business Zone, providing income opportunities for hospitality, retail, office space, b&b, and more. Recent updates include a newer heating system, kitchens, windows, and bathrooms. The building is currently operating as an established live-in guest house for the last 22 years. It contains one single-dwelling unit, and a 5-bedroom guest house (including 5 kitchens). The finished lower level includes laundry, cleaning crew facilities and utilities. No flood insurance required, and excellent income history. P&L available upon signing NDA. Would consider 1031 exchange. Buyer to do all due diligence. Note, this is a commercial property.