53 Sterling AVE Pending Save Request In-Person Tour Request Virtual Tour
Providence,RI 02909
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Pending
Purchase Type For Sale
Square Footage 5,118 sqft
Price per Sqft $172
Subdivision Silverlake
MLS Listing ID 1382943
HOA Y/N No
Abv Grd Liv Area 5,118
Year Built 1900
Annual Tax Amount $15,875
Tax Year 2024
Lot Size 3,998 Sqft
Acres 0.0918
Property Sub-Type Commercial
Property Description
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.
Location
State RI
County Providence
Community Silverlake
Rooms
Basement Full
Interior
Heating Baseboard
Cooling None
Inclusions No warranty or representation, expressed or implied, is made by the Owner or Broker or any related entity as to the accuracy or completeness of the information contained herein, including but not limited to financial information or projections or any information related to the physical buildings or land. Prospective purchasers should make their own investigations, projections, and conclusions. It is expected that prospective purchasers will conduct their own independent due diligence concerning the offering.
Exterior
Community Features Golf,Highway Access,Near Hospital,Near Schools,Public Transportation,Recreation Area,Restaurant,Shopping,Tennis Court(s)
Utilities Available Sewer Connected
Street Surface Concrete
Total Parking Spaces 6
Building
Sewer Connected,Public Sewer
Water Connected,Public
Structure Type Frame
New Construction No
Others
Tax ID 53STERLINGAVPROV
Virtual Tour https://tour.RiLiving.com/53-Sterling-Avenue-Providence-RI-02909--1382943