Map location of 87 Spring Street, Newport, RI 02840
$1,850,000
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87 Spring Street, Newport, RI 02840

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7 Beds
4 Baths
2,906 Sq Ft

Exceptional investment property in the heart of Newport's tourist district. 87 Spring Street is a 4-unit multifamily featuring 3 Fully City Licensed Short Term Rental units and 1 year round tenancy apartment. The licensed short-term rental units are turnkey and ready to continue generating revenue, while the long-term tenant provides reliable baseline income. Profit and Loss statements are available for review; gross projected income for 2025-2026 $203,600. BEING SOLD as a package with 69 Spring Street (MLS #1401952) for $3,950,000. Reach out today to schedule a tour.

Listing By: Molly Kirby - Kirby & Kirby rimls Realty.com
  • MLS# 1401961
  • Date Listed12/18/2025
  • Days on Realty 1 Day
  • Bedrooms 7
  • Bathrooms 4 Full baths
  • Lot Size 0.04 acres (1,568 sq. ft)
  • Sewer Public Sewer
  • Property Type Multi Family
  • County Newport
  • Year Built 1898
  • Water Public
  • Square Feet 2,906 sq. ft
  • Price Per Sq. Ft $636.61

Interior Features

  • Appliances Water Heater
  • Flooring Ceramic Tile, Hardwood, Laminate
  • Cooling Window Unit(s)
  • Heating Hot Water, Oil

Exterior / Lot Features

  • Roof -
  • Lot Size Acres 0.04
  • Lot Size SQFT 1,568.00
  • Lot Features -

Financial Considerations

  • Tax Amount $10,696
  • Terms Cash, Conventional, FHA, VA Loan

Nearby Schools

Source: School Digger

Claiborne Pell Elementary School

Public • PK - 4 • Serves this home

2.32 mi

Distance

Aquidneck Elementary School

Public • PK - 3

2.71 mi

Distance

The Pell @ Rogers High School

Public • PK - PK

3.26 mi

Distance

Jamestown School-melrose

Public • PK - 4

5.15 mi

Distance

Frank E. Thompson Middle School

Public • 5 - 8 • Serves this home

0.22 mi

Distance

Joseph H. Gaudet School

Public • 6 - 8

3.97 mi

Distance

Joseph Gaudet Academy

Public • 4 - 5

3.97 mi

Distance

Jamestown School-lawn

Public • 5 - 8

5.15 mi

Distance

Portsmouth Middle School

Public • 5 - 8

7.54 mi

Distance

Newport Area Career And Technical Center

Public • 9 - 12 • Serves this home

1.97 mi

Distance

Rogers High School

Public • 9 - 12

1.97 mi

Distance

Middletown High School

Public • 9 - 12

3.56 mi

Distance

St George's School

Private • 09 - 12

3.23 mi

Distance

Sales & Tax History

Source: Public Records

Population & Environment

Source: Sperling's Best Places

Walkability in RI / 02840

Source: Walkscore

94/100

Walker's Paradise

Walk Score ®

39/100

Some Transit

Transit Score ®

68/100

Bikable

Bike Score ®

Overview

Daily errands do not require a car. A few nearby public transportation options. Some bike infrastructure.

Transit Summary

6 nearby routes: 6 bus, 0 rail, 0 other

Walkability averages in the surrounding area

The average walkability score in the surrounding area is Walk Score: 27/100, Transit Score: 6/100, Bike Score: 35/100.

Points of Interest near 87 Spring Street, Newport, RI 02840

Frequently Asked Questions for 87 Spring Street

Source: Realty.com

87 Spring Street, Newport, RI 02840 is a Multi Family, Residential Income property listed for $1,850,000 The property is 2906 sq. ft with 7 bedrooms and 4 bathrooms

Realty.com has 30 photos of 87 Spring Street.

Our records indicate that 87 Spring Street was built in 1898.

The full address for this home is 87 Spring Street, Newport, RI 02840.

87 Spring Street has been listed on Realty.com since Thu December 18, 2025

Daily errands do not require a car. A few nearby public transportation options. Some bike infrastructure.

The average walkability score in the surrounding area is Walk Score: 27/100, Transit Score: 6/100, Bike Score: 35/100.

There are 3 schools assigned to this home. Check out the schools near 87 Spring Street. Claiborne Pell Elementary School (Grades: PK - 4), Frank E. Thompson Middle School (Grades: 5 - 8), Newport Area Career And Technical Center (Grades: 9 - 12)

Listing provided courtesy of: Kirby & Kirby (tel: 401-324-0048)
Listing agent: Molly Kirby (tel: 401-477-4130) (#38588)

This content last refreshed on 2025-12-19 19:30:27. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.

Export listing data of 87 Spring Street, Newport, RI 02840 : MLS# 1401961

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