MA
Essex
Lawrence
01843
86 S Broadway
86 S Broadway, Lawrence, MA 01843
Share Listing
Listing Type
Multi Family
Listing Status
Active
23
$2,395,000

Home Details for 86 S Broadway

Price
$2,395,000
Type
Residential Income
Bedrooms
38
Total Bathrooms
4
Full Bathrooms
4
Square feet
11800
Year built
1900
Lot size acres
0.16
County
Essex
Total rooms
45
Basement
Full
MLS Listing#
73516971
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.

Property Features
  • Water Features
    • Public
  • Parking
    • On Street
  • Basement
    • Full
Listing Courtesy: New England Realty Advisors LLC - 781-334-8044
Presented by: Bradford Carlson
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EXIT PREMIER REAL ESTATE
85 Wilmington Road, Burlington, MA 01803
Brenda Cahoon
License #: 9049354
REALTOR®, MAR
Office
781 270 4770
Agent
781 910 5770
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