New Listing - 04/21/2025
53 Sterling Avenue, Providence, RI, 02909
30 rooms
12 beds
6 Full baths
1900
53 Sterling is a well-maintained six-unit building generating $9,550/month ($115K annually), situated on a prime corner lot in Providence's Silver Lake neighborhood. 6 spacious two-bed, one-bath units, each with separate electric & gas meters (paid by tenants) and no trash removal expenses resulting in low operating costs. Additional highlights include ample off-street parking, all new heating systems, common areas redone, roof under 10 years, updated plumbing and electric & professional management. The building is fully occupied with clean, thoroughly vetted tenants and a strong history of high occupancy. Best comparable sale is 29 Blaine St, Providence, which sold for $965,000 in July 2024. That building featured all two-bed units and had a lower monthly rent roll of $8,800. 53 Sterling offers a turnkey opportunity with immediate cash flow and significant upside potential. Financials available upon request.
Status:
Active
Type:
Multi-family
Units:
4
Subdivision:
Silverlake
Garage:
No Garage
Heating:
Baseboard, Gas
Cooling:
None
Basement:
Full, Interior Entry, Unfinished
Parking:
6-car
Acreage:
0.09
Est. Taxes:
$15,875
Assessment
$644,100
Construction
Vinyl Siding
Utilities
Sewer Connected
Amenities:
Golf, Highway Access, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s)
Appliances:
Gas Water Heater, Water Heater
MLS #:
1382940
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of New England Apartment Group Phone: 508-330-0325