Providence, RI 02909,53 Sterling AVE
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Providence, RI 02909,53 Sterling AVE
Providence, RI 02909,53 Sterling AVE
Providence, RI 02909,53 Sterling AVE
Providence, RI 02909,53 Sterling AVE
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53 Sterling AVE Providence, RI 02909

5,118 SqFt


UPDATED:

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


Listed by New England Apartment Group
agent

Jennifer Cosgrove O'Leary

Broker/Owner | License ID: REB.0019311

+1(401) 269-6015

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53 Sterling AVE