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Whether you're looking to offset your monthly housing expenses with rental income or build long-term wealth through real estate investing, this professionally maintained legal four-family offers exceptional flexibility, immediate cash flow, and outstanding long-term potential. Offered at $1,300,000, the property features 12 bedrooms, 4 full baths, and sits on a generous 7,000 sq. ft. lot with abundant off-street parking, one-car garage, storage shed, and garden area. The owner's unit will be delivered vacant at closing, creating an ideal opportunity for an owner-occupant or allowing investors to immediately lease at current market rents. Three Tenant-at-Will units currently generate $6,250 per month and with market rents estimated at approximately $2,200 per unit the projected gross income is $105,600/yr. Building features include individually heated units with separately metered gas and electric, replacement windows, updated electrical service with house meter, a fully certified central fire sprinkler system, coin-operated laundry, dedicated tenant storage, and a common mechanical area. Conveniently located near major highways, public transportation, shopping, restaurants, parks, and neighborhood amenities. Lead compliance history available.

More Info

Basic Information

  • Gross Income $105,600
  • Lot Features Level
  • Mls StatusNew
  • Parcel Number M:0150 B:0000 L:0003,4207333
  • Rent Includes Unit 1(Water), Unit 2(Water), Unit 3(Water), Unit 4(Water)

Tax Information

  • Tax Assessed Value $857,000
  • Tax Year 2026
  • Taxes$7,404

School Information

  • Elementary SchoolJohn K. Tarbox School
  • High School Lawrence High School
  • Junior HighArlington Middle School

Parking

  • Covered Spaces 1
  • Garage YN Yes
  • Open Parking YN Yes
  • Parking Features Paved Drive, Off Street, Paved
  • Parking Spaces11

Rooms

  • Bathroom4
  • Bathrooms Total Decimal 4
  • Bedrooms12
  • Full Bath4

Basic Information

  • List Price$1,300,000
  • MLS Number73555467
  • Modification Date07/28/2026
  • Property SubType4 Family

Location

  • Address172-174 Park Street
  • Building Number172-174
  • CountyEssex
  • StateMA
  • StreetPark Street
  • TownLawrence
  • Zip01841

Building

  • Building Area Units Square Feet
  • FoundationConcrete Perimeter, Stone
  • Garage Spaces1
  • Levels 4
  • Patio And Porch Features Porch
  • Rooms22
  • Stories4
  • Units4
  • Year Built1910
  • Year Built Details Approximate
  • Year Built Source Public Records

Property

  • Acreage0.16
  • Other Structures Shed(s)

Interior

  • Interior Features Laundry Room

Exterior

  • Exterior Features Sprinkler System, Fruit Trees, Garden
  • Fencing Fenced/Enclosed, Fenced
  • RoofRubber

Utilities

  • Heat SystemYes
  • Heating Steam, Natural Gas
  • Sewer Public Sewer
  • Water Source Public

Property Information

  • Building Area Source Public Records
  • Living Area 5,023
  • Lot Size Square Feet 7,000
  • Lot Size Units Acres
  • Square Feet5,023

Amenities

  • Appliances IncludedRange, Microwave, Refrigerator
  • Other AmenitiesGarden

Other

  • Date Listed07/27/2026
  • Farm Land Area Units Square Feet

Map Location

Driving Directions

Listed by Kim Mulligan of Realty Direct Somerville

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