A fully-occupied three-unit triplex in Pawtucket, Rhode Island — 518 Lonsdale Ave delivers immediate cash flow in a commuter-accessible location under five miles from downtown Providence, priced at $599,000.

This 2,450-square-foot multifamily features three 2-bedroom, 1-bathroom units, each on its own floor with a self-contained layout that simplifies management and tenant turnover. The building sits on a 3,485-square-foot lot with two off-street parking spaces, vinyl siding exterior, and a steam heating system. RM zoning confirms continued multifamily use with no regulatory ambiguity for buyers, lenders, or 1031 exchange advisors. All three units are currently occupied — income begins on settlement day.

518 Lonsdale Ave sits less than two miles from downtown Providence, with direct access to I-95 and Route 146 connecting Providence, Worcester, and Boston. The MBTA Providence/Stoughton commuter rail line provides direct service to Boston South Station, extending the tenant base to include Boston-area commuters — a structural advantage in a rental market where transit access drives leasing decisions.

Pawtucket's Blackstone Valley corridor continues to attract investment and development, and demand for multifamily housing in this ZIP code reflects that momentum. For the buy-and-hold investor, this is a low-complexity income asset. For the 1031 exchange buyer, it offers existing occupancy and proven rental demand. For the owner-occupant, two income units offset housing costs while building equity. Connect with Alex Parmenidez Group at Coldwell Banker Realty to schedule your private showing of this Pawtucket, RI multifamily for sale.