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$ 5,600,000
Est. payment /mo
New
102-114 Water Lawrence, MA 01841
27 Beds
27 Baths
27,583 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Active
Purchase Type For Sale
Square Footage 27,583 sqft
Price per Sqft $203
MLS Listing ID 73562010
Bedrooms 27
Full Baths 27
Year Built 1900
Annual Tax Amount $36,323
Tax Year 2025
Lot Size 0.440 Acres
Acres 0.44
Property Sub-Type 5-9 Family
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.
Location
State MA
County Essex
Zoning I-2
Direction Water St Lawrence, MA
Rooms
Basement Full
Interior
Heating Baseboard
Flooring Wood, Vinyl
Exterior
Community Features Public Transportation
Roof Type Rubber
Total Parking Spaces 13
Garage No
Building
Lot Description Corner Lot
Story 3
Foundation Stone
Sewer Public Sewer
Water Public
Others
Senior Community false
Listed by New England Realty Advisors LLC