Earl Alger - REMAX Distinctive
408 N James St



Prepare to be wowed by this amazing investment opportunity! This package features an apartment building with 8 apartments and 1 office, 28 mobile homes, and 1 commercial upholstery shop, all conveniently located on one tidy parcel of part commercial and part residential real estate in a central location in Newport. Even more impressive is the fact that there is a 100% OCCUPANCY RATE in all units! Filled with mostly long-term tenants, this is as low maintenance and high yield as any investment you will find! The apartment building has a NEW 2 inch water line, Newer siding, Newer boiler for the hot water radiator heating - inspected every 2 years , Updated electric, and Replacement windows! All apartments are efficiencies, with heat and A/C included in the rent, each ground floor unit has a private entrance, and the building is equipped with fire alarms that are routinely inspected and an emergency exit. The ground floor office can be kept as a management hub, or changed into a larger apartment unit to increase rental capacity. The 28 mobile homes are located on a paved lot with a small, fenced yard allocated to each home. All mobile homes are 1 bedroom, 1 bathroom, with 100 amp electrical service, electric hot water heaters ,new hot air electric heaters and are connected to 3 water meters with potential for each to have its own water meter. Many of the mobile homes have updated interiors and new roofs and all have new hot air electric heaters. The commercial shop is self-maintained and the current tenant is responsible for all utilities. The lot itself boasts plenty of parking, commercial vehicle parking that can be repurposed into more tenant parking or space for another mobile home, 3 storage sheds, and a common dumpster for trash. Located in walking distance to the bus stop and restaurants, and close to all major routes including 141, 95, 495, and 295, this incredible investment won~t be on the market for long!


StatusPending - Show
Days On Site13


SQ Feet4,600
ZoningCN & NC5

Loading Form

Loading Form

Area Information

Zip Code19804
AreaElsmere/Newport/Pike Creek (30903)
Listing VS Median (in 19804)
low | high
100% of Average
low | high
100% of Average
$ / SqFt:
low | high
100% of Average
On Site:
low | high
92.857142857143% of Average
Listing Updated: 01/20/2019
MLS Number: DENC317346
Listing Provided By:
Jeffrey Stape  of  Patterson-Schwartz-Branmar

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

Information Deemed Reliable But Not Guaranteed

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.

Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.

Copyright BRIGHT, All Rights Reserved