Property Description

This 41-unit mixed-use building consists of (3) commercial units and (38) SRO (single room occupancy) units. The property sits on 0.16 acres with 17,706 SF of living area in 24,502 gross square feet. This asset is well-maintained, featuring a new roof, a new heating system, and a state-of-the-art security system. All upgrades to the building have been completed in the past 3 years. The property is well-positioned on the south side of Lawrence and provides direct access to Boston via Interstates 93 and 495, MA Route 28, and The Lawrence Train Station with service on the MBTA’s Haverhill Line (0.6 miles). The property is walkable to local retail establishments, eateries, grocery stores, and parks. The cap rate upon acquisition is 9.30%.

Property Details tap to expand

Building Information

  • Total Units: 41
  • Total Floors: 3
  • Total Bedrooms: 38
  • Total Full Baths: 4
  • Total Half Baths: 3
  • Amenities: Public Transportation, Shopping
  • Basement Features: Unfinished Basement

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 493500
  • Gross Expenses: 163582
  • GSE: 9534
  • Water/Sewer: 6295
  • INSC: 27277
  • Repairs & Maintenance: 12000
  • RFS: 8500
  • Net Operating Income: 297733

Utilities

  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 2 Description

  • Under Lease: No
  • Floors: 3
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 5+ Family - Rooming House
  • Construction Type: Brick
  • Foundation Info: Brick
  • Roof Material: Rubber
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73420964
  • Last Updated: 08/21/25

Property History tap to expand

Date Event Price Price/Sq Ft Source
08/21/2025New$3,200,000$181MLSPIN

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Seller's Representative: Bradford Carlson, New England Realty Advisors LLC
Sub Agent Compensation: 1
Buyer Agent Compensation: 1
Facilitator Compensation: n/a
Compensation Based On: Gross/Full Sale Price
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2025-08-21 15:59:00