$ 875,000
7 Forest St Lawrence, MA 01841
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$ 875,000
Est. payment /mo
New
7 Forest St Lawrence, MA 01841
5 Beds
6 Baths
3,100 SqFt
UPDATED:
11/23/2024 05:00 PM
Key Details
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,100 sqft
Price per Sqft $282
MLS Listing ID 73315326
Bedrooms 5
Full Baths 6
Year Built 1865
Annual Tax Amount $5,454
Tax Year 2024
Lot Size 6,534 Sqft
Acres 0.15
Property Description
7 Forest St contains a total of six (6) residential units comprised of three (3), 1-Bedroom/1-Bathroom units, two (2), 1+ Bedroom/1-Bathroom units, and one (1) Studio unit with 3,100 square feet of living area in 5,458 gross square feet on a 0.15-acre parcel of land. The property features separately metered heat, hot water, and electricity for 5 of the units. The units have below-market residential rents, the opportunity exists to increase the rents to market rates in an urban-infill, high demand, supply-constrained residential market increasing the income of the Property. The property has a current cap rate of 8.00%.
Location
State MA
County Essex
Zoning 14
Direction Please use GPS
Exterior
Waterfront false
Total Parking Spaces 1
Garage No
Building
Lot Description Other
Story 9
Foundation Other
Sewer Public Sewer
Water Public
Others
Senior Community false
Listed by Horvath & Tremblay