41 Pelham Street & 199 Spring Street – $4,550,000 – 12 bedrooms – 8.5 bathrooms – 10,480 sq ft. offered by Lila Delman Compass Real Estate.
A singular opportunity to own 2 contiguous properties, both zoned General Business, in the most desirable downtown district: Historic Hill. 41 Pelham Street & 199 Spring Street. Considering the zoning, substantial interior and exterior living spaces, private parking, and with a total of 12 bedrooms, 8.5 bathrooms, 7 ensuite, the offering presents multiple value-add scenarios, from transient guest facilities, boutique hotel, restaurant, and fine event destination, to condo conversion. A few steps from the front door will put you in the heart of Newport’s world-renowned Harbor Front, one of the most vibrant and popular vacation destinations in the world, and considering the central location, the property provides a surprisingly peaceful setting with a private back yard and interior garden.
41 Pelham, with its Victorian-era mansard roof, stately bay windows, and veranda, stands in wonderful contrast to the colonial-era buildings around it. The main floor is flooded with natural light, and the second and third floors feature sweeping views of the harbor front, the tall ships at Bowens, and the iconic Trinity Church. 199 Spring is a charming colonial and features a chef’s kitchen with French doors that open to a west facing deck and large back yard. With expansive interior living spaces, two kitchens, large bedroom count, private outdoor living spaces, and ample parking, this property is an underutilized asset, and a lucrative opportunity for either an investor or end-user.
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