About 102-114 Water
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.
Features of 102-114 Water
| MLS® # | 73562010 |
|---|---|
| Price | $5,600,000 |
| Bedrooms | 27 |
| Bathrooms | 27.00 |
| Full Baths | 27 |
| Square Footage | 27,583 |
| Acres | 0.44 |
| Year Built | 1900 |
| Type | Residential Income |
| Sub-Type | 5-9 Family |
| Status | Active |
Community Information
| Address | 102-114 Water |
|---|---|
| City | Lawrence |
| County | Essex |
| State | MA |
| Zip Code | 01841 |
Amenities
| Parking Spaces | 13 |
|---|---|
| Parking | Off Street, On Street |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Baseboard |
|---|---|
| Fireplace | No |
| # of Stories | 3 |
| Stories | 3 |
Exterior
| Lot Description | Corner Lot |
|---|---|
| Roof | Rubber |
| Construction | Frame |
| Foundation | Stone |
Additional Information
| Zoning | I-2 |
|---|
Listing Details
| Agent | Bradford Carlson |
|---|---|
| Office | New England Realty Advisors LLC |