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Fully occupied legal 4-family offering immediate rental income. This well-maintained Lawrence multifamily currently generates $8,400 monthly in gross rental income, plus additional income from coin-operated laundry. Each of the four spacious apartments features 3 bedrooms, offering a total of 12 bedrooms and 4 full baths. Building improvements include a certified fire sprinkler system, replacement windows, vinyl siding, individual gas heating systems, and separately metered gas and electric. Common basement amenities include coin-operated laundry, mechanical space, and tenant storage. Outside, enjoy a fenced yard with garden area and fruit trees, storage shed, one-car garage, and generous off-street parking for 8+ vehicles. All four units are occupied by tenants-at-will, providing established rental income with potential for rental increases. Conveniently located near shopping, transportation, and major commuter routes.An excellent opportunity to acquire an established and clean income-producing property with strong existing revenue and additional upside!

More Info

Basic Information

  • Gross Income $100,800
  • Lot Features Level
  • Mls StatusActive
  • 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$1,235,000
  • MLS Number73555467
  • Modification Date11/05/2026
  • 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, Ceiling Fan(s), Kitchen, Living RM/Dining RM Combo

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 4,678
  • Lot Size Square Feet 7,000
  • Lot Size Units Acres
  • Square Feet4,678

Amenities

  • Other AmenitiesBasement, Garden

Legal

  • ZoningB1

Other

  • Date Listed07/27/2026
  • Farm Land Area Units Square Feet
  • View Count17

Map Location

Driving Directions

Listed by Kim Mulligan of Realty Direct Somerville

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