TL;Dr

Four-unit multifamily investment in Pawtucket, RI, offering 3,912 sq. ft. of living space with significant value-add potential. Features a mix of one, two, and three-bedroom units, separate electric meters, gas service, and ample parking on a 7,866 sq. ft. lot. Prime location near the Pawtucket–Central Falls Station, ideal for investors looking to renovate and capitalize on high commuter demand for Providence and Boston.

23 Spring Street

Pawtucket, RI 02860 (MLS #1403024)
Bedrooms
7
Bathrooms
4
Square Ft.
3,912
Units
4
$579,000.

Located in the heart of Pawtucket, this four-unit multifamily investment opportunity is ideal for flippers and value-add investors seeking scale, flexibility, and upside. Set on a 7,866-square-foot lot, the property offers over 3,912 square feet of living space with a layout that supports multiple renovation strategies and income optimization. The first-floor unit features two bedrooms and one full bathroom, with potential to convert to a three-bedroom, creating immediate value-add potential. The second floor includes two separate one-bedroom, one-bath units, well suited for maximizing rental income. The third floor offers a three-bedroom, one-bath unit, appealing to tenants seeking additional living space. The property includes ample on-site parking, gas service, separate electric meters for each unit, and a house meter, providing a solid operational foundation. A full basement adds valuable storage and utility space, supporting future improvements or system upgrades. Conveniently located near Pawtucket–Central Falls Station, major highways, and downtown Pawtucket, this location supports strong commuter demand with easy access to Providence and Boston. Nearby amenities, shopping, dining, and transit enhance long-term rental appeal. This is a compelling opportunity for investors looking to renovate, reposition, and unlock equity in a well-located multifamily asset within a growing Pawtucket market.

Features
Bedrooms
7
Bathrooms
4
Square Ft.
3,912
Floors
3
Units
4
Year Built
1910
Land SqFt
7,866
Mortgage Calculator
Monthly Payment
$0
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Alex Parmenidez
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Frequently Asked Questions

Q: Why is this Pawtucket four-unit property a good investment opportunity?

A: This property offers scale and flexibility in a growing market. With over 3,912 square feet of living space and a versatile layout, it provides immediate value-add potential for investors looking to optimize rental income through strategic renovations.

Q: What is the unit breakdown for this multifamily home?

A: The property includes a first-floor 2-bed (convertible to 3-bed), two 1-bed units on the second floor, and a 3-bed unit on the third floor. Contact Alex Parmenidez today to schedule a walkthrough and see the layout in person!

Q: How is the property set up for utilities and parking?

A: The home is equipped with gas service, separate electric meters for each unit, and a house meter. It also features a full basement for storage and a large lot providing ample on-site parking for all tenants.

Q: Is the location convenient for commuters to Providence or Boston?

A: Yes, being minutes from the Pawtucket–Central Falls Station and major highways ensures high commuter demand. View the full property details and location map on our website.

Q: What makes this a "value-add" investment?

A: The potential for a first-floor bedroom conversion and basement upgrades allows investors to quickly unlock equity. Reach out to Alex Parmenidez to discuss your investment strategy for this property!