Beautifully updated and remodeled, this income-producing 3-unit building offers a rare opportunity for investors or owner-occupants. Currently generating over $50,000 in annual income, this property is a turn-key investment with the added bonus of a possible buildable lot—ideal for future expansion or potential subdivision. Each unit features one bedroom, attracting long-term tenants and ensuring low-maintenance management. Over the past 10–20 years, the property has undergone comprehensive renovations, including updates to the roof, siding, windows, and heating systems, providing peace of mind for years to come. The property also boasts ample parking and a spacious yard for tenant enjoyment. Conveniently located near the East Side of Providence and major highways (Routes 95, 195, and 6), this is a rare find with strong cash flow and tremendous upside potential for a savvy buyer.
Sold for $575,000
$575,000
58 Central Ave, East Providence, RI 02914
3beds
2,200sqft
Multi Family
Built in 1920
-- sqft lot
$678,600 Zestimate®
$261/sqft
$2,004 Estimated rent
Home value
$678,600
$624,000 - $740,000
$2,004/mo
Zestimate® history
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$2,963/mo
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Zillow last checked:
Listing updated:
Listed by:
Manny Menezes 401-323-8292,
REALTY NEW ENGLAND,
John Pacheco 401-480-2191,
REALTY NEW ENGLAND
Bought with:
Michelle Savastano, REB.0016954
Broadway Real Estate Group
Source: StateWide MLS RI,MLS#: 1395819
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 3
Bathroom
- Features: Bath w Tub & Shower
Heating
- Natural Gas, Baseboard
Cooling
- Window Unit(s)
Appliances
- Included: Oven/Range, Refrigerator
- Laundry: Common Area, In Building
Features
- Wall (Dry Wall), Plumbing (Mixed), Insulation (Unknown)
- Flooring: Laminate, Vinyl, Carpet
- Basement: Full,Interior and Exterior,Unfinished
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 2,274
- Total interior livable area: 2,200 sqft
Property
Parking
- Total spaces: 4
- Parking features: No Garage, Driveway
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: One Level
Features
- Stories: 1
- Fencing: Fenced
Lot
- Size: 0.26 Acres
- Features: Extra Lot, Paved, Sidewalks
Details
- Parcel number: EPROM105B02L006U
- Zoning: M3
- Special conditions: Conventional/Market Value
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Dry Wall, Vinyl Siding
- Foundation: Concrete Perimeter, Mixed
Condition
- New construction: No
- Year built: 1920
Utilities & green energy
- Electric: Circuit Breakers
- Utilities for property: Sewer Connected, Water Connected
Community & HOA
Community
- Features: Near Public Transport, Commuter Bus, Golf, Highway Access, Hospital, Interstate, Marina, Private School, Public School, Railroad, Recreational Facilities, Restaurants, Schools, Near Shopping, Near Swimming, Tennis
- Subdivision: Central
HOA
- Has HOA: No
Location
- Region: East Providence
Financial & listing details
- Price per square foot: $261/sqft
- Tax assessed value: $452,900
- Annual tax amount: $5,830
- Date on market: 9/23/2025
- Inclusions: Approximate Owner Expenses: Water/Sewer $1624 Insurance $2018 Property Taxes $5830
- Total actual rent: 4234
- Tenant pays: Heat
Price history
| Date | Event | Price |
|---|---|---|
| 11/17/2025 | Sold | $575,000-7.2%$261/sqft |
Source:  StateWide MLS RI #1395819 Report a problem | ||
| 10/13/2025 | Pending sale | $619,900$282/sqft |
Source: StateWide MLS RI #1395819 Report a problem | ||
| 9/23/2025 | Listed for sale | $619,900+519.9%$282/sqft |
Source: StateWide MLS RI #1395819 Report a problem | ||
| 11/22/1988 | Sold | $100,000$45/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,919 +24.6% | $452,900 +46.1% |
| 2024 | $4,751 +3.9% | $309,900 |
| 2023 | $4,574 +1.2% | $309,900 +49.9% |
| 2022 | $4,521 +1.7% | $206,800 |
| 2021 | $4,446 +4.4% | $206,800 |
| 2020 | $4,258 +2.9% | $206,800 |
| 2019 | $4,140 -0.8% | $206,800 +13.4% |
| 2018 | $4,173 +2.3% | $182,400 |
| 2017 | $4,080 +0.5% | $182,400 |
| 2016 | $4,060 +3% | $182,400 +6.2% |
| 2015 | $3,943 | $171,800 |
| 2014 | $3,943 +0.7% | $171,800 |
| 2013 | $3,914 +4.9% | $171,800 +855% |
| 2012 | $3,731 +3.2% | $17,990 -90% |
| 2011 | $3,614 +3.5% | $179,900 |
| 2010 | $3,492 +1.1% | $179,900 -19.6% |
| 2009 | $3,453 +3.5% | $223,800 |
| 2008 | $3,337 +3.5% | $223,800 |
| 2007 | $3,225 +3.6% | $223,800 +20.5% |
| 2006 | $3,112 | $185,700 |
Find assessor info on the county website
Neighborhood: 02914
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Nearby schools
GreatSchools rating
- 5/10Orlo Avenue SchoolGrades: K-5Distance: 0.6 mi
- 4/10Edward Martin Middle SchoolGrades: 6-8Distance: 1.4 mi
- 5/10East Providence High SchoolGrades: 9-12Distance: 1.1 mi
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Estimated market value
$678,600
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$678,600
- Rhode Island
- Providence County
- East Providence
- 02914
- 58 Central Ave
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