Rhode Island Investment Property for Sale: A Perfect Family Home with Strong Rental Potential
Are you in search of an investment property that offers both comfort and profitability? Look no further than this stunning Rhode Island property located on Kay Street. Situated adjacent to Braga Park and Reservoir, this large family home is an ideal investment opportunity for those seeking a spacious and recently renovated property.
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One of the standout features of this property is the recent renovation, which includes a brand new first-floor master suite and kitchen. The kitchen boasts modern stainless steel appliances and beautiful stone countertops, making it a chef’s dream. The open layout of the kitchen seamlessly connects with the large living room, complete with a charming stone fireplace and convenient deck access. This creates the perfect space for entertaining guests or enjoying quality time with family.
With five generously sized bedrooms and four full baths, this property provides ample space for a large family or a group of vacationers. Each bedroom is designed with comfort and relaxation in mind, ensuring that everyone has their own personal sanctuary to retreat to at the end of a long day.
The lower-level of this home offers even more space, with a family room, laundry area, full bath, and a kitchenette that could potentially serve as an in-law suite. This additional living space provides versatility and the opportunity to maximize rental income.
For those with hobbies or a need for extra storage space, this property also includes a separate large two-car garage with room for a workshop, as well as plenty of storage. Additionally, there is parking available for up to six additional cars, ensuring that both residents and guests have ample space for their vehicles.
Speaking of rental income, this property is currently leased from September 2023 to May 2024 for $4200.00 per month, with tenants responsible for utilities. This makes it an ideal investment for those looking to generate a strong off-season rental income while still having the option to use the property as a vacation home during peak seasons.
Location is everything, and this property does not disappoint. Just minutes away from Newport and First Beach, residents and guests alike will have easy access to the vibrant city life and stunning coastline that Rhode Island is famous for. Whether it’s exploring historic Newport or enjoying a day at the beach, this property offers a perfect blend of convenience and relaxation.
In conclusion, this Rhode Island investment property on Kay Street is truly a gem. With its recent renovations, spacious layout, and strong rental potential, it presents an excellent opportunity for both investors and those looking for a family or vacation home. Don’t miss out on this chance to own a piece of Rhode Island’s beauty and charm.
147 Kay Street, Newport, RI 02840