Unit Information
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.
- Additional Details
- Status: NEW
- Type: Multi-Family, Multi Family
- Zip Code: 01843
- Levels: 2
- Parking
- Parking: On Street
- Rooms and Dimensions
- Total Units: 38
- Total Floors: 2
- Total Rooms: 45
- Has Basement: Yes
Loading...
$2,395,000
- Status: New
- Listing ID: 73516971
- Bedrooms: 38
- Full Baths: 4
- Living Area: 11,800 sqft Convert
- Lot Size: 6,995 sqft Convert
- Acres: 0.16
View description
Luxury Residential Group
(617) 233-5800
Receive more info or arrange a tour
When you are ready, please contact us and we will put our unrivaled knowledge of the Boston real estate market to work for you. Whether you are buying a luxury condo or renting a luxury apartment, we pledge to make your experience as stress free and enjoyable as possible.
Please call, email, or send us a message through the web form below. An LRG Real Estate agent will contact you promptly.
LRG Luxury Residential Group | 355 Boylston St, Boston MA 02116 | (617) 233-5800 | |