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626 Thames Street Newport, RI $ 2,195,000
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626 Thames Street
$ 2,195,000
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626 Thames Street

Newport, RI, 02840
$ 2,195,000
Bedrooms9 Baths6.1 Sq 4,165

Monthly Estimate*

$ 13,859

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Multi-Family Home for sale in Newport, RI

for $2,195,000 with 9 bedrooms and 6 full baths, 1 half bath. This 4,165 square foot home was built in 1918 on a lot size of 0.064.

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.

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Multi-Family Active

Price

$ 2,195,000

Bedrooms

9

Full Bath

6

Half Bath

1

Property Type

Multi-Family

Taxes

$ 9,428

Style

Lot Size

0.064

Year Built

1918

Town/City

Newport

County/Region

Newport

MLS | Web ID

1419872
Features
General
Sewer Connected Public Sewer
Heating Baseboard Electric Gas Hot Water
Cooling Window Unit(s)
Utilities Sewer Connected
Possession Negotiable
Garage Spaces 1
Construction Materials Shingle Siding
Year Built 1918
Electric 200+ Amp Service
Property Subtype Multi Family
Tax Year 2025
County Newport
Operating Expense 63793
New Construction false
Property Type Residential Income
Attached Garage true
Subdivision Name Downtown - Fifth Ward
Garage Y/N true
Total Rooms 20
Full Baths 6
Status Active
City Newport
Senior Community Y/N false
Number Of Units Total 3
Lot Size Units Square Feet
Lot Size Square Feet 2788
Land Lease Y/N false
Tax Annual Amount 9428
Virtual Tour https://tour.RiLiving.com/626-Thames-Street-Newport-RI-02840
Structure Type Apartment
Standard Status Active
Tax Assessed Value 1085500
Tax Lot 123
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Interior
Basement Full Interior Entry Unfinished
Flooring Hardwood
Total Fireplaces 0
Total Stories 0
Basement (Y/N) true
Air Conditioning Y/N true
Heating Y/N true
Fireplace Y/N false
Half Baths 1
Laundry Features In Unit
Total Bedrooms 9
Total Baths 7
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Exterior
Parking Features Attached Garage
Water Source Connected Public
Total Parking 6
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.
Lot Size Area 2788
Number of Buildings 2
Building Area Total 4165
Lot Size Acres 0.064
Covered Spaces 1
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* Excluded Features
List By
Our Real Estate

Broker

laurenmaillouxrealestate@gmail.com

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Affordability Calculator

$14,645
Per Month
95%
5%
0%
Monthly Principal & Interest
$13,859
Monthly Property Taxes
$786
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
0 Elementary School
0 Middle School
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Pricing History
DatePricePrice ChangeDescription
8/7/2026$2,195,000 Listed Price

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626 Thames Street, Newport, RI, 02840 is a Multi-Family Home for sale at $2,195,000 with 4,165 sqft and a lot size of 0.064. 626 Thames Street has 9 bedrooms, 6.1 baths, and was built in 1918. The property's zip code is 02840 which is in Newport, RI

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