53 Sterling Ave

Providence RI 02909

5118 sq. ft.

4000 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

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.

Features

12 bedrooms

6 bathrooms

6 carspaces

5118 sq. ft. floor area

4000 sq. ft. lot size

Multi-Family

Property history for 53 Sterling Ave

2019

Sold

$350,000

11 Jun 2019 by Joy Riley, of Westcott Properties, Inc.

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Local market activity for 12 bedroom multi families in Providence

In the last 12 months, 2 numeral.12-bedroom multi families similar to 53 Sterling Ave, have been sold.

Sold

For Sale

View the listing for inspection times, agent contact details, and more.

John Slyman

at New England Apartment Group

View listing

Sales:: (619) 566-0008

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