102-114 Water St
$5,600,000
27
Beds
27
Baths
27,583
Sqft
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$5,600,000
27
Beds
27
Baths
27,583
Living Area
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Property Description
We are pleased to present the Jordan Court Apartments for sale, located at 102-114 Water Street in Lawrence, MA. This 27-unit multifamily property consists of four buildings on the same 0.44-acre lot totaling 27,583 SF, built in 1900 and renovated in 2024. The unit mix consists of (20) three-bedroom, (2) four-bedroom, (3) one-bedroom, and (2) studio units. The property is conveniently located close to downtown Lawrence, I93, I495 and the Lawrence MBTA Station. The property is equipped with off-street parking, tenant-paid utilities, and seven out of the 27 units have been fully renovated. Investors have the opportunity to add value by increasing rents to market value through minor cosmetic renovations. This asset is a great addition to any investor's real estate portfolio with high cash-on-cash returns on day 1. All interested parties will have the opportunity to obtain additional information upon request. Request Offering Memo from listing agent. 8.02% cap rate, 9.54% pro forma cap rate.
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Highlights
- Heating: Baseboard
- Parking Spots: 13
- Property Type: 5-9 Family
- Total Rooms: 99
- Status: Active
- Levels: 3
- Property Class: Residential Income
- Stories: 3
- Year Built: 1900
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Additional Details
- Basement: Full
- Flooring: Wood, Vinyl
- Lot Features: Corner Lot
- Roof: Rubber
- Total Number of Units: 27
- Year Built Source: Public Records
- Construction: Frame
- Foundation: Stone
- Road Frontage Type: Public
- SqFt Source: Public Record
- Year Built Details: Approximate
- Zoning: I-2
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Amenities
- Community Features: Public Transportation
- Parking Features: Off Street, On Street
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Utilities
- Electric: 100 Amp Service
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $3,788,000
- Taxes: $36,323
- Tax Year: 2025
- Total Rent: $4,700
Content © 2026 MLS Property Information Network, Inc. The information in this listing was gathered from third party resources including the seller and public records.
Listing information provided courtesy of New England Realty Advisors LLC.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.