6-Unit Apartment
For Sale
$1,500,000
10 Kempton Ct, Lawrence, MA 01841
Well-maintained 6-unit multifamily with all units featuring 2 bedrooms and resident-paid utilities.
Property Size5,576 SF
Price / SF$269.01
Days on Market95
Property Features for 10 Kempton Ct
General Information
Standard status
Active
Size
5,576 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
R-3
Net Operating Income
$104,400
Additional Details
Highway Access
Yes
Sprinkler System
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$6,510
Building Details
Building Size
5,576 SF
Year Built
1920
Stories
3
Listing Agency:
Prestige Realty Experts Inc.
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 5
Changed: Sep 6
Last Checked: Sep 6 at 5:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Prestige Realty Experts Inc.
Investment Insights
Based on property information with market context.
This well-maintained 6-unit apartment building offers consistent unit configuration, with all six units featuring 2 bedrooms. Tenants pay their own utilities. The property includes a clean basement, ample parking across front and side lots, and deleading certificates on file.
The building is situated on a quiet dead-end street. Reported building improvements include a newer roof approximately 8 years old, a sprinkler system already in place, and updated water heaters installed in 2018, 2019, 2020, 2020, 2023, and 2025.
With multiple recent water-heater replacements and ongoing maintenance items documented, the property is presented as a ready-to-operate income asset.
The building is situated on a quiet dead-end street. Reported building improvements include a newer roof approximately 8 years old, a sprinkler system already in place, and updated water heaters installed in 2018, 2019, 2020, 2020, 2023, and 2025.
With multiple recent water-heater replacements and ongoing maintenance items documented, the property is presented as a ready-to-operate income asset.
Key Highlights
- Well‑maintained 6‑unit multifamily built in 1920, with all six units featuring 2 bedrooms
- Tenants pay their own utilities, helping keep owner expenses low
- Roof is approximately 8 years old
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$84,791
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,695,820
$1.7M
Cap Rate 7%
$1,211,300
$1.2M
Cap Rate 9%
$942,122
$942.1K
Market Conditions
NOI Build-Up for 5,576 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$160.6K $28.80/SF
− Vacancy
−$6.4K −$1.15/SF
EGI
$154.2K $27.65/SF
− OpEx
−$69.4K −$12.44/SF
NOI
$84.8K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,695,820
Cap Rate 7%
$1,211,300
Cap Rate 9%
$942,122
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,791 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,068 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,960
Businesses Nearby
Explore this area
Business Placement
Demographics for 01841, MA
53,654
Population
17,546
Households
3.1
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
3.0 sq mi
ZIP Area
17,885
Density / Sq Mi
$54,525
Median Household Income
$34,741
Median Earnings
$1,565
Median Rent
$393,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 6-unit multifamily with all units featuring 2 bedrooms and resident-paid utilities.
Where is this apartment building located?
The property is located at 10 Kempton Ct Lawrence, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Well‑maintained 6‑unit multifamily built in 1920, with all six units featuring 2 bedrooms; Tenants pay their own utilities, helping keep owner expenses low; Roof is approximately 8 years old
