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26521813
26521835

82 S Broadway, Lawrence, MA 01843

BC
MA 9584876, NH 085535
New England Realty Advisors
Listed by New England Realty Advisors
$2,995,000
287 days on market
Updated 8 days ago

South Broadway Mixed Use

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 24,502
Net Rentable (SqFt) 17,706
Units 41
Cap Rate 9.94%
NOI $297,733
Occupancy 100%
Pro-Forma Cap Rate 10.99%
Pro-Forma NOI $329,009
Price per SqFt $122
Broker Co-Op Yes
Year Built 1900
Buildings 1
Stories 3
Acreage 0.160
Investment Type Value Add

Mixed Use | 41 Units | 5900 SF Commercial RSF (3) Units | (38) Unit Rooming House 2nd & 3rd Floors

Marketing description

New England Realty Advisors LLC is pleased to present the exclusive opportunity to purchase the South Broadway Rooms, a mixed-use multifamily property located at 82 S Broadway in Lawrence, MA. This 41-unit mixed-use building consists of (3) commercial units totaling 5,900 SF and (38) SRO (single room occupancy) units across 11,800. The property sits on 0.16 acres with 17,706 SF of living area in 24,502 gross square feet. 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, eateries, grocery stores, and parks.

Investment highlights

  • Value-add opportunity

  • Below market rents

  • High demand & supply-constrained market

Listing Contacts

BC
MA 9584876, NH 085535
New England Realty Advisors
Listed by New England Realty Advisors

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$297,733.00
$24,811.08/mo

Valuation Metrics

0
DSCR
9.94%
Cap Rate
9.94%
ROI

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Additional Information

Name
Brad Carlson
License
9584876
Brokerage
New England Realty Advisors LLC
Brokerage Phone
7813344044
Title
Principle Broker
Brokerage Address
40 Salem Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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