1. Rhode Island
2. Providence
3. 53 Sterling Avenue

53 Sterling Avenue, Providence, RI 02909

• 5,118 sqft

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.

Listing Status:

Pending

Date Added:

April 21, 2025 at 05:00AM

Listing Office:

New England Apartment Group : 508-330-0325

MLS ID:

1382943

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This listing courtesy of New England Apartment Group