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$2,000,000
32
Beds
9
Baths
9,075
Living Area
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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%.
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Highlights
- Levels: 4
- Property Class: Residential Income
- Stories: 4
- Year Built: 1900
- Parking Spots: 4
- Property Type: 5+ Family - Rooming House
- Total Rooms: 38
- Status: Closed
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Additional Details
- Foundation: Other
- SqFt Source: Public Record
- Year Built Details: Approximate
- Zoning: Na
- Lot Features: Other
- Total Number of Units: 32
- Year Built Source: Public Records
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $1,534,800
- Taxes: $13,506
- Tax Year: 2025
- Total Rent: $30,310
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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 Berkshire Hathaway HomeServices Verani Realty Methuen.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
