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28 Days on Jacob Realty
11
$875,000
Total Beds: 5 Total Baths: 6
Total Units: 6 SQFT: 3100
LOT size: 0.15 Acres
7 Forest St
Lawrence, MA 01841
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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 Details

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

Mortgage Calculator

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Map

Seller's Representative: Spencer Norton, Horvath & Tremblay
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2.5
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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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