7 Forest St Active Save Request In-Person Tour Request Virtual Tour
Lawrence,MA 01841
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
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
Building
Lot Description Other
Story 9
Foundation Other
Sewer Public Sewer
Water Public