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You are here:
28 Days on Boston Pads
11 Photos
$875,000
6 Unit
5 Beds
6 Baths
3100 SQFT
0.15 Acre
7 Forest St
Lawrence, MA 01841

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%.

Property Overview

Property Details click or tap to expand

Building Information

  • Total Units: 6
  • Total Floors: 9
  • Total Bedrooms: 5
  • Total Full Baths: 6

Financial

  • APOD Available: No
  • Gross Operating Income: 93300
  • Gross Expenses: 23270
  • Electric Expenses: 1887
  • Water/Sewer: 2449
  • Net Operating Income: 70030

Utilities

  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 4 Description

  • Under Lease: No
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1865
  • Type: 5-9 Family
  • Foundation Info: Other (See Remarks)
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73315326
  • Last Updated: 11/27/24

Property History click or tap to expand

Date Event Price Price/Sq Ft Source
11/27/2024Active$875,000$282MLSPIN
11/23/2024New$875,000$282MLSPIN

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Map & Resources

Lawrence Family Development Charter School

Charter School, Grades: K - 8

0.2mi

Lawrence Family Development Charter School

Charter School, Grades: PK-8

0.21mi

Haverhill Street School

School

0.27mi

School for Exceptional Studies at the Annex

School

0.3mi

Saint Annes School

School

0.33mi

Alexander B Bruce School

Public Elementary School, Grades: 3-8

0.34mi

Blessed Stephen Bellesini O.S.A. Academy

Private School, Grades: 5-8

0.38mi

Blessed Stephen Bellesini O.S.A. Academy

Private School, Grades: 5-7

0.42mi

La Tambora

Regional & Dominican Restaurant

0.36mi

Big-N-Beefy

Restaurant

0.47mi

Lawrence Fire Department

Fire Station

0.36mi

Lawrence Fire Department

Fire Station

0.58mi

Lawrence Police Department

Local Police

0.61mi

Lawrence Police Station

Police

0.62mi

Oxford Street Park

Municipal Park

0.21mi

Reservoir Park

Park

0.22mi

Bourgoin Square Park

Municipal Park

0.23mi

Gagnon Park

Municipal Park

0.28mi

William Kennedy Community Park

Municipal Park

0.46mi

Santander

Bank

0.31mi

CVS Pharmacy

Pharmacy

0.28mi

Market Basket

Supermarket

0.4mi

Seller's Representative: Spencer Norton, Horvath & Tremblay
MLS ID#: 73315326

© 2024 MLS Property Information Network, Inc.. All rights reserved.

The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2024-11-27 03:05:00