53 Alger Avenue Providence, RI 02907
MULTI_FAMILY - Providence, RI
- Added:
- Jul 8, 2026
- Days on Market:
- 4
- Last Refresh:
- Jul 11 at 4:06 pm
Property Features for 53 Alger Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Bedrooms
- 8
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 1, Bedroom 8, Bathroom 3, Bedroom 7, Bedroom 2, Basement, Bedroom 3, Bedroom 4, Bedroom 6, Bedroom 1, Bedroom 5
- Parking
- 4
- Parking features
- None
- Basement
- Unfinished, Full
- Appliances
- Electric Water Heater
- Standard status
- Active
- Size
- 4,167 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7199
Utilities
- Heating system
- Oil, Baseboard
Building Details
- Year built
- 1930
- Number of units
- 3
- Flooring type
- Laminate
- Building materials
- Vinyl Siding
Listing agent Kyle Seyboth License #REC.0005226 (508) 726-3492
Listing office Century 21 Limitless 969 Waterman Avenue, Suite 1, East Providence, RI (508) 567-3468
Listing date Jul 8, 2026
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is located at 53 Alger Avenue in Providence, Rhode Island. It is positioned in the South Providence area with proximity to shopping, dining, grocery stores, and everyday amenities. The listing also notes convenient access to major employers and institutions, including Rhode Island Hospital, Hasbro Children’s Hospital, Brown University, Johnson & Wales University, and Rhode Island School of Design, along with nearby transit options and Roger Williams Park.
For buyers seeking a ready-to-operate income property, the current occupancy status and established tenant base are key attributes. The combination of spacious unit layouts and off-street parking supports resident convenience, while the area’s access to transportation routes—including I-95, Route 10, and I-195—may be appealing for tenants commuting throughout Rhode Island and into Massachusetts.
Key Highlights
- Fully occupied 3‑family property with tenants already in place
- Year built 1930
- 8 bedrooms and 3 bathrooms across the units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $122.5k | $29.40 |
| − Vacancy | −$7.6k | −$1.82 |
| EGI | $114.9k | $27.58 |
| − OpEx | −$51.7k | −$12.41 |
| NOI | $63.2k | $15.17 |
