52 Weeks of Timeshare on Newport Harbor

Hospitality for Sale
Catylist Listing ID: 30352003
Property Subtypes: Resort, Vacation Rental(s), Other
Number of Units: 1 Units
Building Size (RSF): 1,250 SF
Gross Building Area: See Agent
Sale Price: $485,000
Unit Price: $485,000 Per Unit
Ceiling: 7 ft.
Property Use Type: Investment
Building Name: Wellington Resort
Name of Establishment: Wellington Resort
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 12/7/2018

Overview / Comments

Full year, (52 weeks) timeshare condo investment opportunity in one of Newport's premier waterfront resorts. Taxes, utilities, maintenance, furnishings appliances all included in fee. Top floor, end unit in elevator building facing Newport Harbor. 2 bedrooms, 2 full baths, and sleeps 6 comfortablly. Walk to restaurants, shopping, mansions and Newport Harbor activities. Great investment property for managing owner. Income and expense statements available.

Additional Details

Nearest MSA: Providence-Warwick
County: Newport
Retail Clientele: General, Family, Traveler, Tourist, Recreation, Convention
Property Located Between: Habor and Thames St.
Property Visibility: Good
Largest Nearby Street: Thames St.
Highway Access: No
Airports: T F Green
Site Description: 4 buildings on the waterfront.
Area Description: Downtown Newport. Busy popular tourist area.
Nearby Attractions: Harbor, Restaurants, shops. marinas, yacht clubs
Total Number of Buildings: 4
Number of Stories: 3
Property Condition: Excellent
Year Built: 1985
Roof Type: Other
Construction/Siding: Wood Siding
Water Recreation: Indoor Pool
Exterior Description: Attractive shingle style building, 3 stories with exterior decks.
Total Parking Spaces: 2
Parking Type: Surface
Parking Description: unassigned
Passenger Elevators: 1
Sprinklers: Wet
Laundry: In Each Unit
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Fully furnished 2-bedroom condo with balcony.
Zoning Description: Waterfront Business
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Timeshare resort
Legal Description: 51 unit timeshare resort - Plat 35 / Lot 204

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,402 34,765 46,588
Median Age: 37.95 40.85 41.52
Households: 3,825 14,983 19,901
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