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$ 2,000,000
Est. payment | /mo
32 Beds
9 Baths
9,075 SqFt
$ 2,000,000
Est. payment | /mo
32 Beds
9 Baths
9,075 SqFt
Key Details
Property Type Multi-Family
Sub Type 5+ Family - Rooming House
Listing Status Active
Purchase Type For Sale
Square Footage 9,075 sqft
Price per Sqft $220
MLS Listing ID 73403863
Bedrooms 32
Full Baths 9
Year Built 1900
Annual Tax Amount $13,506
Tax Year 2025
Lot Size 9,147 Sqft
Acres 0.21
Property Sub-Type 5+ Family - Rooming House
Property Description
The Parker Street Rooms & Apartments contain thirty-two (32) residential units, comprised of twenty-nine (29) SRO's and three (3) apartments. 183 Parker Street contains twelve (12) SRO's and one (1) apartment and 198-200 Parker Street contains seventeen (17) SRO's and two (2) apartments. The two buildings are located in South Lawrence and are across the street from one another. The landlord is responsible for gas heat and all electricity in 183 Parker. 198-200 Parker Street features separately metered electricity for all the rooms and apartments, which is the heat source for the building. Passing the electric expense back on to the tenants would create a significant increase in the NOI of the properties. Current rents are also below market rate. The properties have a current cap rate of 9.22%.
Location
State MA
County Essex
Zoning NA
Direction Please use GPS
Exterior
Total Parking Spaces 4
Garage No
Building
Lot Description Other
Story 4
Foundation Other
Sewer Public Sewer
Water Public
Others
Senior Community false
Listed by Horvath & Tremblay
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