Two-Family Residential
179-181 West Street Lawrence, MA 01841
179-181 West Street, Lawrence, MA, 01841
$684,900
For Sale
$684,900
Two-unit property with updated systems, including a new heating system in the owner’s unit and a newer hot water tank.
Property Size2,042 SF
Price / SF$335.41
Days on Market292
Property Features for 179-181 West Street
General Information
- Standard status
- Active
- Size
- 2,042 SF
- Property subtype
- Multi-family / 2 Family - 2 Units Side by Side
Building Details
- Year Built
- 1900
Listing agency
Keller Williams Realty
(978) 475-2111
Listed by
Jennifer Hamilton Bower · License #72130
(978) 475-2111
Source
Compass
Added: Oct 3, 2025 Updated: Jul 21 at 12:06AM Checked: Jul 21 at 6:44AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This two-family residential income property offers a large owner unit and a separate second unit with matching functional layouts. The owner’s unit includes an eat-in kitchen with access to a large deck, a living room with hardwood floors, a first-floor bedroom, and a 1/4 bath. Upstairs, the owner’s unit provides two bedrooms and an updated bath. The second unit features an eat-in kitchen, a living room, and a first-floor bedroom, with two bedrooms and a full bath on the second floor.
The property includes recent improvements, including a new heating system in the owner’s unit, a young hot water tank (179), and a new asphalt roof area with new sheathing installed in 2018. It is located close to highways and the New Hampshire border.
Showings begin at the scheduled open house, and the offer deadline is set for Tuesday 10/14 at 4:00 PM.
The property includes recent improvements, including a new heating system in the owner’s unit, a young hot water tank (179), and a new asphalt roof area with new sheathing installed in 2018. It is located close to highways and the New Hampshire border.
Showings begin at the scheduled open house, and the offer deadline is set for Tuesday 10/14 at 4:00 PM.
Key Highlights
- Two‑unit property with a large owner unit plus a second unit with eat‑in kitchen, living room, and bedrooms across 1st and 2nd floors
- Owner unit features eat‑in kitchen with access to a large deck, living room with hardwood floors, 1st‑floor bedroom, and updated bath on 2nd floor
- Second unit offers an eat‑in kitchen, living room, 1st‑floor bedroom, and 2nd‑floor full bath with 2 bedrooms
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.5k | $25.20 |
| − Vacancy | −$2.3k | −$1.13 |
| EGI | $49.1k | $24.07 |
| − OpEx | −$14.7k | −$7.22 |
| NOI | $34.4k | $16.85 |
2,042 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$491.4K
$430.0K – $573.3K
NOI $34,400 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$443.6K
$388.1K – $517.5K
NOI $31,051 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,620 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit property with updated systems, including a new heating system in the owner’s unit and a newer hot water tank.
Where is this duplex located?
The property is located at 179-181 West Street Lawrence, MA.
What is the asking price?
The asking price for this property is $684,900.
What are key features of this property?
This property features: Two‑unit property with a large owner unit plus a second unit with eat‑in kitchen, living room, and bedrooms across 1st and 2nd floors; Owner unit features eat‑in kitchen with access to a large deck, living room with hardwood floors, 1st‑floor bedroom, and updated bath on 2nd floor; Second unit offers an eat‑in kitchen, living room, 1st‑floor bedroom, and 2nd‑floor full bath with 2 bedrooms
