Three-Unit Triplex with Off-Street
New
For Sale
$865,740
180 S Union St, Lawrence, MA 01843
All three residences have three bedrooms, one full bath, updated flooring, and separate utilities.
Property Size3,322 SF
Days on Market3
Property Features for 180 S Union St
General Information
Standard status
Active
Size
3,322 SF
Total Parking Spaces
5
Property subtype
Multifamily
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Individually Metered Utilities
unspecified utilities
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,805
Amenities
paved driveway
carports
off-street parking
Building Details
Building Size
3,322 SF
Year Built
1900
Listing Agency:
View Real Estate Group
Listed By:
Zolgalys Sanchez
(978) 259-3737
Source:
Classifiedrealtygroup
Added: Oct 28
Changed: Oct 29
Last Checked: Oct 30 at 11:16AM
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 View Real Estate Group
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Investment Insights
Based on property information with market context.
This triplex contains three residences, each arranged with three bedrooms, one full bath, and a spacious kitchen. Updated flooring and separate utilities serve each unit. The property was built in 1900.
A paved driveway accommodates five cars, and carports provide covered parking. The property is in Lawrence, with access to I-495 and I-93. Nearby services include shopping centers, a pharmacy, a laundromat, a convenience store, and a clinic.
A paved driveway accommodates five cars, and carports provide covered parking. The property is in Lawrence, with access to I-495 and I-93. Nearby services include shopping centers, a pharmacy, a laundromat, a convenience store, and a clinic.
Key Highlights
- Three units with nine bedrooms total
- Each unit has three bedrooms, one full bath, and a spacious kitchen
- Updated flooring and separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,963
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,119,260
$1.1M
Cap Rate 7%
$799,471
$799.5K
Cap Rate 9%
$621,811
$621.8K
Market Conditions
NOI Build-Up for 3,322 SF
Gross rent
$83.7K $25.20/SF
− Vacancy
−$3.8K −$1.13/SF
EGI
$79.9K $24.07/SF
− OpEx
−$24.0K −$7.22/SF
NOI
$56.0K $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 Rate 5%
$1,119,260
Cap Rate 7%
$799,471
Cap Rate 9%
$621,811
Alternative Uses
Best Use
Multifamily LT 5
$799.5K
$699.5K – $932.7K
NOI $55,963 @ 7.0% cap · market cap 6.46%
Second Best
Apartment 5plus
$721.7K
$631.5K – $841.9K
NOI $50,516 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$1.97M
$1.72M – $2.29M
NOI $137,663 @ 7.0% cap · market cap 15.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,815
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - All three residences have three bedrooms, one full bath, updated flooring, and separate utilities.
Where is this triplex located?
The property is located at 180 S Union St Lawrence, MA.
What is the asking price?
The asking price for this property is $865,740.
What are key features of this property?
This property features: Three units with nine bedrooms total; Each unit has three bedrooms, one full bath, and a spacious kitchen; Updated flooring and separate utilities
