167 George St Pawtucket, RI 02860

This exceptional investment opportunity presents the Clocktower Residences, a 122-unit multifamily development in Pawtucket, Rhode Island. Priced at $8,000,000, this property comprises a renovated three-story, 30,000-40,000 square foot building situated on an 81,569 square foot lot (APN 897-54A). The existing building, formerly St. Mary's school, features 22 units with versatile floor plans, offering potential 16-foot ceilings. A fully approved expansion plan adds 100 more units, including an underground garage, on a contiguous site. This development benefits from its location in an Opportunity Zone and its inclusion in the National Register's Multiple Resource Area, opening doors to potential historical tax credits. The property enjoys a convenient location near I-95, the Pawtucket Central Falls Commuter Rail Station, the Tidewater Landing soccer stadium, and Providence's East Side. The site is environmentally clean and level, with easy access to city utilities. This is a rare chance to acquire a substantial multifamily property with significant upside potential in a rapidly growing area. The property was built in 1900 and consists of one building with three stories.