Three-Unit Multifamily
New
For Sale
$589,000
14 Atkinson St, Lawrence, MA 01843
Corner-lot property with separate utilities, off-street parking, and coin-operated laundry.
Property Size2,094 SF
Price / SF$281.28
Days on Market4
Property Features for 14 Atkinson St
General Information
Standard status
Active
Size
2,094 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
R-3
Units
Unit Mix
3 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,403
Amenities
hardwood floors
finished basement
coin-operated laundry
off-street parking
fruit trees
Building Details
Building Size
2,094 SF
Year Built
1875
Tenancy
Multi
Listing Agency:
Realty ONE Group Nest
(978) 655-1385
Listed By:
Jose E Frias · License #9584350
Source:
413realestate
Added: Aug 17
Changed: Aug 19
Last Checked: Aug 20 at 4:34AM
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 Realty ONE Group Nest
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains three one-bedroom apartments within 2,094 square feet. Interior features include hardwood flooring and traditional finishes, while separate utilities support individual unit management. Hot water baseboard heating systems were installed within approximately the past seven years.
The property occupies a corner lot and includes off-street parking, fruit trees, and tenants with extended occupancy. The basement adds finished rooms and storage, along with coin-operated laundry equipment that remains in place. Built in 1875 and zoned R-3, the property also offers layouts that may be adaptable to two-bedroom configurations, subject to buyer due diligence and required approvals.
The property occupies a corner lot and includes off-street parking, fruit trees, and tenants with extended occupancy. The basement adds finished rooms and storage, along with coin-operated laundry equipment that remains in place. Built in 1875 and zoned R-3, the property also offers layouts that may be adaptable to two-bedroom configurations, subject to buyer due diligence and required approvals.
Key Highlights
- Three one‑bedroom apartments in a 2,094‑square‑foot multifamily property
- R‑3 zoning and construction dating to 1875
- Separate utilities for each apartment
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
$35,276
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
5.99%
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%
$705,520
$705.5K
Cap Rate 7%
$503,943
$503.9K
Cap Rate 9%
$391,956
$392.0K
Market Conditions
NOI Build-Up for 2,094 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
$52.8K $25.20/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$50.4K $24.07/SF
− OpEx
−$15.1K −$7.22/SF
NOI
$35.3K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$705,520
Cap Rate 7%
$503,943
Cap Rate 9%
$391,956
Alternative Uses
Best Use
Multifamily LT 5
$503.9K
$441.0K – $587.9K
NOI $35,276 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$454.9K
$398.0K – $530.7K
NOI $31,842 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,775 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,208
Businesses Nearby
Explore this area
Business Placement
Demographics for 01843, MA
28,346
Population
10,968
Households
2.6
Avg Household Size
34
Median Age
20%
College-Educated
79%
High-School Grad
3.4 sq mi
ZIP Area
8,337
Density / Sq Mi
$72,163
Median Household Income
$38,957
Median Earnings
$1,703
Median Rent
$393,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Corner-lot property with separate utilities, off-street parking, and coin-operated laundry.
Where is this triplex located?
The property is located at 14 Atkinson St Lawrence, MA.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Three one‑bedroom apartments in a 2,094‑square‑foot multifamily property; R‑3 zoning and construction dating to 1875; Separate utilities for each apartment
