$885,000

53 Sterling Ave Providence, RI 02909

Silver Lake Neighborhood

Estimated payment $6,263/month

Total Views 1,957
12 Beds
6 Baths
5,118 Sq Ft
$173 Price per Sq Ft

Highlights

  • Golf Course Community
  • Tennis Courts
  • Shops
  • Wood Flooring
  • Public Transportation
  • 4-minute walk to James Ahern Park

About This Home

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 Agent

John Slyman

New England Apartment Group License #REB.0018441

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,875

Year Built

  • Built in 1900

Home Design

  • Vinyl Siding

Interior Spaces

  • 5,118 Sq Ft Home
  • 3-Story Property

Flooring

  • Wood
  • Vinyl

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 6 Full Bathrooms

Unfinished Basement

  • Basement Fills Entire Space Under The House
  • Interior Basement Entry

Parking

  • 6 Parking Spaces
  • No Garage

Utilities

  • No Cooling
  • Heating System Uses Gas
  • Baseboard Heating
  • Gas Water Heater

Additional Features

  • 4,000 Sq Ft Lot
  • Property near a hospital

Listing and Financial Details

  • Tax Lot 253
  • Assessor Parcel Number 53STERLINGAVPROV

Community Details

Overview

  • 4 Units
  • Silverlake Subdivision

Amenities

  • Shops
  • Restaurant
  • Public Transportation

Recreation

  • Golf Course Community
  • Tennis Courts
  • Recreation Facilities

Building Details

  • Operating Expense $31,448

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,875

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.0918
  • 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.
  • Subdivision Name: Silverlake
  • Above Grade Finished Sq Ft: 5118.0
  • Garage Yn: No
  • New Construction: No
  • Structure Type: Apartment
  • Year Built: 1900
  • Special Features: VirtualTour

Interior Features

  • Number Of Buildings: 1
  • Appliances: Gas Water Heater, Water Heater
  • Has Basement: Full, Interior Entry, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 6
  • Total Bedrooms: 12
  • Fireplace: No
  • Flooring: Hardwood, Vinyl
  • Stories: 3
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Construction Type: Vinyl Siding

Garage/Parking

  • Parking Features: No Garage
  • Total Parking Spaces: 6.0

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard, Gas
  • Heating Yn: Yes
  • Sewer: Connected, Public Sewer
  • Utilities: Sewer Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Community Features: Golf, Highway Access, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s)
  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 4000.0
  • Parcel #: 53STERLINGAVPROV
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Hot Water

Multi Family

  • Number Of Units Total: 4
  • Annual Operating Expense: 31448.0

Tax Info

  • Tax Annual Amount: 15875.0
  • Tax Lot: 253
  • Tax Map Number: 105
  • Tax Year: 2024

Map

Range of Values:

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List Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/21/2025 04/21/25 For Sale $885,000 +152.9% $173 / Sq Ft
06/11/2019 06/11/19 Sold $350,000 -2.5% $68 / Sq Ft
05/08/2019 05/08/19 Pending -- -- --
04/12/2019 04/12/19 For Sale $359,000 -- $70 / Sq Ft
Source: State-Wide MLS

Source: State-Wide MLS

MLS Number: 1382940

State-Wide MLS

Rhode Island Providence County Providence 02909 Silver Lake

53 Sterling Ave, Providence, RI

Homes for Sale in Providence, RI

This home is located at 53 Sterling Ave, Providence, RI 02909 and is currently priced at $885,000, approximately $172 per square foot. This property was built in 1900. 53 Sterling Ave is a home located in Providence County with nearby schools including Charles N. Fortes Elementary School, Asa Messer Elementary School, and Laurel Hill Annex School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

State-Wide MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Copyright © 2025 State-Wide MLS, Inc. All rights reserved.

John Slyman
Listing Agent
John Slyman
Section Image
New England Apartment Group
(401) 389-3753