Multi Family Home for Sale, 5 Shangri La Lane, Middletown, Rhode Island 02842

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.