23 Spring St Pawtucket: Four-Unit Multifamily Opportunity
TL;DR
Four-unit multifamily in Pawtucket offering over 3,900 sq ft of living space, a large 7,866 sq ft lot, flexible unit mix, and strong value-add potential in a commuter-friendly location near downtown and the train station.
Desire: Why Investors Are Targeting Multifamily in Pawtucket
Savvy investors know that small multifamily properties in commuter-friendly locations offer some of the strongest long-term returns. With rising rental demand, limited inventory, and proximity to Providence and Boston, Pawtucket continues to attract attention from flippers, contractors, and value add investors.
23 Spring Street stands out as a rare opportunity to acquire a four-unit multifamily on a large lot, offering scale, flexibility, and multiple paths to increased income and equity.
Education: Property Overview & Unit Configuration
Welcome to 23 Spring Street, Pawtucket, Rhode Island, a four-unit multifamily investment property offering over 3,912 square feet of living space on a generous 7,866-square-foot lot.
Unit Breakdown:
This property supports several renovation and repositioning strategies:
First Floor:
2 bedrooms, 1 full bath with potential to convert to 3 bedrooms for immediate value-addSecond Floor:
Two separate 1-bedroom, 1-bath units—ideal for maximizing rent per square footThird Floor:
Spacious 3-bedroom, 1-bath unit, highly desirable in the local rental market
Building Features:
Gas service
Separate electric meters for each unit + house meter
Full basement for utilities and storage
Off-street parking
Large lot enhances future flexibility
Inspiration: Location That Supports Long-Term Demand
Located in the heart of Pawtucket, this property benefits from:
Minutes to Pawtucket–Central Falls Station
Easy access to Providence and Boston
Close proximity to downtown Pawtucket
Nearby shopping, dining, schools, parks, hospitals, and major highways
This commuter-friendly location strengthens rental appeal today and supports resale value tomorrow.
Action: Unlock the Upside at 23 Spring Street
Whether you’re a flipper, contractor, or buy-and-hold investor, this four-unit multifamily offers the scale and flexibility needed to renovate, reposition, and build long-term equity.
📍 23 Spring Street, Pawtucket, RI
📞 Schedule your private showing today to evaluate renovation strategies and income potential.
Frequently Asked Questions
Q: Why is 23 Spring Street attractive to investors and flippers?
A: The property offers strong square footage, a flexible unit mix, and a large lot—key elements for renovation, repositioning, and long-term equity growth.
Q: How is the building currently configured?
A: It includes a 2–3 bedroom unit, two one-bedroom units, and a three-bedroom unit. Contact us to review layout options and renovation strategies.
Q: Does the lot size add redevelopment or expansion value?
A: Yes. The 7,866-square-foot lot provides additional flexibility for parking optimization or future improvements. Reach out to discuss potential uses.
Q: How does the location support rental demand?
A: Proximity to commuter rail, highways, and downtown Pawtucket enhances tenant demand and exit strategies. Ask for local rental and market insights.
Q: What type of buyer is this property best suited for?
A: This property is ideal for flippers and investors seeking a value-add multifamily with scale and upside. Schedule a showing to evaluate the opportunity.
By Alex Parmenidez, REALTOR® | Coldwell Banker Realty
Alex Parmenidez | Realtor® Licensed CT-MA-RI | Coldwell Banker Realty
196 Waterman St, Providence, RI 02906
C: (401) 426-4825 | O: (401) 351-2017
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