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Adam Dow

| The Dow Group | #1 Real Estate Team in New Hampshire

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102-114 Water , Lawrence, MA 01841
$5,600,000
Est. Payment: $12,444.44/mo
27 Bed
27 Bath
27583 Sqft
Status: Active | Days on site: 37
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AN8612 - CN232232
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from , its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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House 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

Listed by Bradford Carlson , 781-334-8044 New England Realty Advisors LLC , 781-334-8044.

Property Type

Multi-Family
Lot/Acreage
0.44

Year Built

1900

County

Essex

Listing ID

73562010

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:27
  • ▪ Bathrooms:27
  • ▪ Full Bathrooms:27
Floor:Wood,Vinyl
Water:Public

Exterior Features

Lot:Corner Lot
Garage Capacity:13
Zoning:I-2
Roof:Rubber
Sewer:Public Sewer
Parking Features:Off Street,On Street,Parking Spaces: 13
Principal Interest
$12,444
Taxes
$3,027

Home Price

$5,600,000

Loan Details

30 yrs
%

Down Payment

20%
$1,120,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$12,444.44

Principal

Taxes

Principal Taxes HOA Total
Monthly $12,444.44 $3,026.92 $0.00 $15,471.36
Yearly $149,333.33 $36,323.00 $0.00 $185,656.33
Total $4,480,000.00 $1,089,690.00 $0.00 $5,569,690.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Lawrence, MA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.