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$ 2,395,000
Est. payment /mo
New
86 S Broadway Lawrence, MA 01843
38 Beds
4 Baths
11,800 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5+ Family - Rooming House
Listing Status Active
Purchase Type For Sale
Square Footage 11,800 sqft
Price per Sqft $202
MLS Listing ID 73516971
Bedrooms 38
Full Baths 4
Year Built 1900
Annual Tax Amount $17,500
Tax Year 2025
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type 5+ Family - Rooming House
Property Description
This 38-unit rooming house consists of (38) SRO (single room occupancy) units across 11,800 SF. The property sits on 0.16 acres, the properties second and third floor are being offered for sale separate to the retail commerical units on the first floor. 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, grocery stores, and parks. The cap rate upon acquisition is 10.03%. The property is currently professionally managed and they are prepared to continue managing the property for new owner. Seller will consider other property in trade to help accommodate a 1031 exchange.
Location
State MA
County Essex
Zoning B2
Direction South Broadway
Rooms
Basement Full
Exterior
Roof Type Rubber
Garage No
Building
Lot Description Zero Lot Line
Story 2
Foundation Stone, Brick/Mortar
Sewer Public Sewer
Water Public
Others
Senior Community false
Listed by New England Realty Advisors LLC
NEARBY SCHOOL & BUSINESS