172-174 Park St, Lawrence, MA 01841
Listing Courtesy of : Kim Mulligan ---- Realty Direct Somerville
- $1,300,000
- 12
- BD
- 4
- BA
- 5,023
- SqFt
- List Price
- $1,300,000
- Status
- NEW
- MLS#
- 73555467
- Bedrooms
- 12
- Bathrooms
- 4
- Full Baths
- 4
- Living Area
- 5,023
- Lot Size (Acres)
- 0.16
- Year Built
- 1910
Property Description
Whether you're looking to offset your monthly housing expenses with rental income or build long-term wealth through real estate investing, this professionally maintained legal four-family offers exceptional flexibility, immediate cash flow, and outstanding long-term potential. Offered at $1,300,000, the property features 12 bedrooms, 4 full baths, and sits on a generous 7,000 sq. ft. lot with abundant off-street parking, one-car garage, storage shed, and garden area. The owner's unit will be delivered vacant at closing, creating an ideal opportunity for an owner-occupant or allowing investors to immediately lease at current market rents. Three Tenant-at-Will units currently generate $6,250 per month and with market rents estimated at approximately $2,200 per unit the projected gross income is $105,600/yr. Building features include individually heated units with separately metered gas and electric, replacement windows, updated electrical service with house meter, a fully certified central fire sprinkler system, coin-operated laundry, dedicated tenant storage, and a common mechanical area. Conveniently located near major highways, public transportation, shopping, restaurants, parks, and neighborhood amenities. Lead compliance history available.
Additional Information
- Taxes
- $7,404
- Interior Features
- Laundry Room
- Parking Description
- Paved Drive, Off Street, Paved
- Parking Features
- Paved Drive, Off Street, Paved
- Parking Spaces
- 11
- Water Source
- Public
- Lot Description
- Level
- Heat Zones
- 4
- Water
- Public
- Sewer
- Public Sewer
- Elementary School
- John K. Tarbox School
- Middle School
- Arlington Middle School
- High School
- Lawrence High School
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