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$901,200
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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.
Full Property Details
Full Property Details for 53 Sterling Ave
General
- Sold For: $901,200
- Taxes: $15,875 (2024)
- Status: Closed
- Type: Commercial Residential Facility
- Source: STWMLS
- MLS ID: 1382943
- Added to Site: 308 day(s) ago
Additional Information
- Tennis: Yes
Parking
- Total Spaces: 6
Location
- County: Providence
- Subdivision: Silverlake
- Near Highway: Yes
Heating & Cooling
- Cooling Type: None
- Heating Type: Baseboard
Utilities
- Sewer: Connected, Public Sewer
- Water: Connected, Public
- Utility Description: Sewer Connected
Structural Information
- # Buildings: 1
- Structure Type: Apartment
- Detached/Attached: Detached
- Construction: Frame
- Basement: Yes
- Basement Desc.: Full
- Stories/Levels: 3
- Building Size: 5118
- Finished Total: 5,118 Sq. Ft.
- Finished Above Grnd: 5,118 Sq. Ft.
- Year Built: 1900
Lot Features
- Lot Size (Acres): 0.0918
- Lot Size (Sq. Ft.): 4,000
- Lot Size: 4000
Financial Considerations
- Tax Amount: $15,875
- Tax Year: 2024
- Owner Pays: Sewer, Taxes, Water
- Tenant Pays: Electricity, Gas, Heat, Hot Water
Disclosures and Reports
- 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
- Property ID: 53STERLINGAVPROV
- Lot Number: 253
Listed and Sold by New England Apartment Group
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Schools
Schools serving 53 Sterling Ave
School District:Providence School District
| Name | Grades | Distance |
|---|---|---|
Webster Avenue School 191 Webster Avenue, Providence, RI 02909 | K-5 | 0.2 mi |
Asa Messer Elementary School 1655 Westminster Street, Providence, RI 02909 | K-5 | 0.5 mi |
Frank D. Spaziano Annex Elementary School 240 Laban Street, Providence, RI 02909 | K-1 | 0.6 mi |
Gilbert Stuart Middle School 188 Princeton Avenue, Providence, RI 02907 | 6-8 | 1.1 mi |
Governor Christopher Delsesto Middle School 152 Springfield Street, Providence, RI 02909 | 6-8 | 1.2 mi |
Nathanael Greene Middle School 721 Chalkstone Avenue, Providence, RI 02908 | 6-8 | 1.7 mi |
Central High School, Providence, RI 70 Fricker Street, Providence, RI 02903 | 9-12 | 1.3 mi |
Classical High School, Providence, RI 770 Westminster Street, Providence, RI 02903 | 9-12 | 1.4 mi |
Dr. Jorge Alvarez High School 375 Adelaide Avenue, Providence, RI 02907 | 9-12 | 1.4 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 53 Sterling Ave
Date
Details
Price
Change
Source
7/18/2025
Sold
$901,200
1.83%
MLS
4/21/2025
Listed
$885,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
53 Sterling Avenue, Providence, RI 02909 (MLS# 1382943) is a Commercial Residential Facility property that was sold at $901,200 on July 18, 2025. Want to learn more about 53 Sterling Avenue? Do you have questions about finding other Commercial Residential Facility real estate for sale in Providence? You can browse all Providence real estate or contact a Coldwell Banker agent to request more information.

