Exceptional investment opportunity in the heart of South Lawrence! This rare 9-unit property consists of a 6-unit building, a 2-family, and a single-family home, offering a total of 22 bedrooms and 10 bathrooms. The property features strong in-place cash flow with low operating expenses and upside potential. Most units have been tastefully renovated, providing modern interiors that attract and retain quality tenants. Major capital improvements include updated heating systems throughout, all replaced in 2019. The unit mix includes spacious 3-bedroom apartments, multiple 2-bedroom units, and a well-maintained single-family residence with 2 bedrooms and 2 baths. Located in a highly desirable South Lawrence location near major routes, shopping, schools, and public transportation. A turnkey asset with scale, stability, and long-term growth potential - one of the most attractive multifamily investments currently available in Lawrence.

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Basic Information

Contingency Pending P&S
Lot Features Easements, Other
Mls StatusContingent
Parcel Number M:0121 B:0000 L:0018

Tax Information

Tax Assessed Value $1,711,100
Tax Year 2026
Taxes$14,784

Parking

Parking Spaces

Rooms

Bathroom10
Bathrooms Total Decimal 10
Bedrooms22
Full Bath10

Basic Information

List Price$2,150,000
MLS Number73520829
Modification Date05/20/2026
Property SubType5-9 Family
Purchase Contract Date05/19/2026

Location

Address246-254 Salem Street
Building Number246-254
CountyEssex
StateMA
StreetSalem Street
TownLawrence
Zip01843

Building

BasementFull
Building Area Units Square Feet
Construction Materials Frame
FoundationStone
Levels 3
Patio And Porch Features Porch
Rooms37
Stories3
Units9
Utilities For Gas Range
Window Features Insulated Windows
Year Built1920
Year Built Details Unknown/Mixed
Year Built Source Public Records

Property

Acreage0.15

Interior

Flooring Wood, Tile, Vinyl, Other

Exterior

Exterior Features Balcony
RoofShingle, Rubber

Utilities

Electric 100 Amp Service
Sewer Public Sewer
Water Source Public

Property Information

Building Area Source Public Records
Living Area 10,057
Lot Size Square Feet 6,534
Lot Size Units Acres
Square Feet10,057

Amenities

Amenities
- Highway Access
- House of Worship
- Laundromat
- Medical Facility
- Park
- Public School
- Public Transportation
- T-Station
- University
Other AmenitiesBasement

Legal

ZoningR3

Other

Date Listed05/18/2026
Farm Land Area Units Square Feet

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Newton, MA

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More Info

Basic Information

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Parking

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Newton, MA