$3,695,000

This three-parcel residential property with unique development potential sits in the heart of Newport's Historic Hill district, virtually across the street from Touro Park and the Old Stone Mill. It features an authentic two-and-a-half-story red-brick colonial with a private driveway, separate accommodations in a renovated carriage house, and a detached four-car garage. Few locations in this exclusive neighborhood provide such an appealing off-street presence, a self-contained, estate-style compound combining total privacy with abundant open space. The main house is a charming blend of circa-1730 timber-frame construction faced in red brick, with a newer wood-shingled addition built in 1981 to the rear. It features five bedrooms, three full baths upstairs and one half-bath down, original wide-board pine floors, living room and dining room both with fireplaces, and an eat-in kitchen with its own fireplace. A separate carriage house was renovated in 1978 and converted into a two-story unit with a living room and built-in kitchen on the first floor, and two bedrooms with a full bath and washer/dryer upstairs. A freestanding four-car garage completes the building inventory. Consisting of three parcels on nearly half an acre of R-3 residential real estate, this gem has development potential above and beyond its suitability for private ownership. A worthy investment at every level.