EAST PROVIDENCE – The Elderwood at Riverside nursing home was sold recently for $4.3 million, according to city real estate records.
The transfer from owner 100 Wampanoag Trail LLC, a New York-based corporation, to buyer Rudd Island Holdings LLC, which is based in Sunrise, Fla., was completed May 5.
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Rudd Island Holdings has a mortgage on the property for $3.8 million, according to East Providence online property records.
The 16,860-square-foot facility was built in 1962. It sits on 1.5 acres and last sold for $538,999 in May 2013, according to city assessment records.
In 2019, the nursing home had an assessed value of $1.5 million.
According to its website, it provides long-term and respite care and has 57 residents.
Mary MacDonald is a staff writer for the PBN. Contact her at MacDonald@PBN.com.
