$850,000

5 Shangri La Lane, Middletown, RI 02842

  • 4 beds |
  • 2 baths |
  • 1,728 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1944
  • Property Lot Size Icon6,970sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $492/sqft
  • Property List Date Icon Listed 6 days ago

Property Description

Exceptional investment and lifestyle opportunity in a prime Middletown location—just over a mile to the beach and an easy walk to vibrant Broadway. This well-maintained duplex features two 2-bedroom, 1-bath townhouse-style units, offering flexibility for investors and owner-occupants alike. One unit is a grandfathered, registered short-term rental—a rare and highly desirable asset in Middletown—ideal for Airbnb/VRBO income. This unit will convey fully furnished and equipped as pictured, right down to the fully stocked “owner’s closet.” The second unit will be delivered vacant, providing the perfect setup for an owner-occupant, long-term tenant, or seasonal rental. Both units have been thoughtfully updated with newly remodeled kitchens featuring stainless steel appliances and butcher block countertops, along with recently renovated bathrooms. Additional recent upgrades include new exterior doors/ storm doors and replacement windows by Renewal by Andersen, new insulation in walls and attic (2024), a new hot water heater, and a new 6’ privacy fence that creates separate backyard spaces for each unit. Additional highlights include handsome bluestone front steps, full unfinished basements with in-unit laundry, off-street tandem parking for each unit, and a strong rental history. **Highest and best offers due by 6 PM on Monday, March 30th.**

Listing Status:
Active
Date Added:
March 26, 2026
Data Last Updated:
April 1, 2026 at 2:19PM
Listing Office:
REMAX Revolution : 401-921-5011
MLS ID:
1406877
  • General: AtticInterior StepsTub ShowerFurnished
  • Appliances: DryerDishwasherElectric Water HeaterMicrowaveOvenRangeRefrigeratorWasher
  • Laundry: In Unit
  • Basement: Exterior EntryFullInterior EntryUnfinished
  • Flooring: Ceramic TileHardwoodVinyl
  • A/C: Window Unit(s)
  • Heating: Forced AirGas
  • Fireplace: Fireplaces: 0
  • Style: Side By Side
  • Parking: No GarageParking spaces: 6
  • General: DrywallVinyl Siding2Concrete Perimeter
  • HOA Amenities: 0.0
  • Originating MLS: RIS_RIS
  • County: Newport
  • Zoning: 57SHANGRILALANEMDLT
  • Fencing: Fenced
  • Utilities: Sewer Connected100 Amp Service
  • Water: ConnectedPublic
  • Sewer: Connected
  • Source: RIS_RIS

This listing courtesy of REMAX Revolution

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

A

Aquidneck School

70 Reservoir Rd, Middletown, RI, 02842

Grades PK-3

0.97 miles away

J

Joseph H. Gaudet School

1113 Aquidneck Ave, Middletown, RI, 02842

Grades 5-8

1.43 miles away

M

Middletown High School

130 Valley Rd, Middletown, RI, 02842

Grades 9-12

1.15 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.