102-114 Water, Lawrence, MA 01841
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$5,600,000
27 Unit
27 Beds
27 Baths
27583 SQFT
0.44 Acre

Property Description

We are pleased to present the Jordan Court Apartments for sale, located at 102-114 Water Street in Lawrence, MA. This 27-unit multifamily property consists of four buildings on the same 0.44-acre lot totaling 27,583 SF, built in 1900 and renovated in 2024. The unit mix consists of (20) three-bedroom, (2) four-bedroom, (3) one-bedroom, and (2) studio units. The property is conveniently located close to downtown Lawrence, I93, I495 and the Lawrence MBTA Station. The property is equipped with off-street parking, tenant-paid utilities, and seven out of the 27 units have been fully renovated. Investors have the opportunity to add value by increasing rents to market value through minor cosmetic renovations. This asset is a great addition to any investor's real estate portfolio with high cash-on-cash returns on day 1. All interested parties will have the opportunity to obtain additional information upon request. Request Offering Memo from listing agent. 8.02% cap rate, 9.54% pro forma cap rate.

Property Details tap to expand

Building Information

  • Total Units: 27
  • Total Floors: 3
  • Total Bedrooms: 27
  • Total Full Baths: 27
  • Amenities: Public Transportation
  • Basement Features: Full
  • Common Heating: Gas, Hot Air Gravity, Hot Water Baseboard

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 632002
  • Gross Expenses: 182865
  • GSE: 2169
  • Electric Expenses: 6726
  • Water/Sewer: 23912
  • RFS: 10612
  • Net Operating Income: 449137

Utilities

  • Electric Info: 100 Amps, Other (See Remarks)
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 5-9 Family
  • Construction Type: Aluminum, Frame
  • Foundation Info: Fieldstone
  • Roof Material: Rubber
  • Flooring Type: Vinyl, Wood
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73562010
  • Last Updated: 08/11/26

Property History tap to expand

Date Event Price Price/Sq Ft Source
08/11/2026New$5,600,000$203MLSPIN

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

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MLS PIN data last updated at 2026-08-11 14:51:00