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This 38-unit rooming house consists of (38) SRO (single room occupancy) units across 11,800 SF. The property sits on 0.16 acres, the properties second and third floor are being offered for sale separate to the retail commerical units on the first floor. This asset is well-maintained, featuring a new roof, a new heating system, and a state-of-the-art security system. All upgrades to the building have been completed in the past 3 years. The property is well-positioned on the south side of Lawrence and provides direct access to Boston via Interstates 93 and 495, MA Route 28, and The Lawrence Train Station with service on the MBTA's Haverhill Line (0.6 miles). The property is walkable to local retail establishments, grocery stores, and parks. The cap rate upon acquisition is 10.03%. The property is currently professionally managed and they are prepared to continue managing the property for new owner. Seller will consider other property in trade to help accommodate a 1031 exchange.

More Info

Basic Information

  • Gross Income $434,100
  • Lot Features Zero Lot Line
  • Mls StatusActive

Tax Information

  • Tax Assessed Value $2,342,400
  • Tax Year 2025
  • Taxes$17,500

Parking

  • Open Parking YN Yes
  • Parking Features On Street
  • Parking Spaces

Rooms

  • Bathroom4
  • Bathrooms Total Decimal 4
  • Bedrooms38
  • Full Bath4

Basic Information

  • List Price$2,395,000
  • MLS Number73516971
  • Modification Date05/16/2026
  • Property SubType5+ Family - Rooming House

Location

  • Address86 S Broadway
  • Building Number86
  • CountyEssex
  • StateMA
  • StreetS Broadway
  • TownLawrence
  • Zip01843

Building

  • BasementFull
  • Building Area Units Square Feet
  • Construction Materials Brick
  • FoundationStone, Brick/Mortar
  • Levels 2
  • Rooms45
  • Stories2
  • Units38
  • Year Built1900
  • Year Built Details Approximate
  • Year Built Source Public Records

Property

  • Acreage0.16

Exterior

  • RoofRubber

Utilities

  • Sewer Public Sewer
  • Water Source Public

Property Information

  • Building Area Source Owner
  • Living Area 11,800
  • Lot Size Square Feet 6,995
  • Lot Size Units Acres
  • Square Feet11,800

Amenities

  • Other AmenitiesBasement

Legal

  • ZoningB2

Other

  • Date Listed05/12/2026
  • Farm Land Area Units Square Feet

Map Location

Driving Directions

Listed by Bradford Carlson of New England Realty Advisors LLC

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