Updated Three-Unit
For Sale
$869,900
22-26 Chandler Street, Lawrence, MA 01841
Three residential units feature matching layouts, insulated windows, updated boilers, and dedicated off-street parking.
Property Size4,200 SF
Price / SF$207.12
Days on Market160
Property Features for 22-26 Chandler Street
General Information
Standard status
Active
Size
4,200 SF
Total Parking Spaces
6
Property subtype
Multi-family / 3 Family
Zoning
I2
Net Operating Income
$69,600
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,479
Amenities
No
Vinyl
Range, Refrigerator
3.0
Insulated Windows, Screens
Washer Hookup, Dryer Hookup, Electric Dryer Hookup
Full, Interior Access, Concrete Floor
Lead Certification Available, Bathroom With Tub & Shower, Living Room, Kitchen, Laundry Room
3
3.00
Frame
Rubber
Level
Rain Gutters, Screens
Building Details
Year Built
1920
Listing Agency:
Coldwell Banker Realty - Haverhill
(978) 372-8577
Listed By:
The Fisichelli Team
(978) 372-8577
Source:
Compass
Added: Mar 24
Changed: Aug 29
Last Checked: Aug 29 at 3:38PM
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 Coldwell Banker Realty - Haverhill
Investment Insights
Based on property information with market context.
This 4,200-square-foot triplex in Lawrence contains three residential units, each arranged with a living room, kitchen, three bedrooms, and a full bathroom. The property was built in 1920 and has received several updates, including vinyl siding, a newer rubber roof, and newer vinyl insulated windows. Two brand-new boilers serve the second and third floors, while the first-floor boiler is 8 years old. Additional features include laundry hookups, interior basement access, concrete flooring, rain gutters, and screens. Six off-street parking spaces are available.
Located on Chandler Street, the property offers access to highways, a T-station, shopping, restaurants, and schools. Zoning is identified as I2.
Located on Chandler Street, the property offers access to highways, a T-station, shopping, restaurants, and schools. Zoning is identified as I2.
Key Highlights
- 4,200‑square‑foot triplex with 3 residential units
- Each unit includes a living room, kitchen, 3 bedrooms, and a full bathroom
- 2 brand‑new boilers serve the second and third floors; first‑floor boiler is 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
$70,754
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
8.13%
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%
$1,415,080
$1.4M
Cap Rate 7%
$1,010,771
$1.0M
Cap Rate 9%
$786,156
$786.2K
Market Conditions
NOI Build-Up for 4,200 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
$105.8K $25.20/SF
− Vacancy
−$4.8K −$1.13/SF
EGI
$101.1K $24.07/SF
− OpEx
−$30.3K −$7.22/SF
NOI
$70.8K $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%
$1,415,080
Cap Rate 7%
$1,010,771
Cap Rate 9%
$786,156
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$884.4K – $1.18M
NOI $70,754 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$912.4K
$798.3K – $1.06M
NOI $63,867 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,047 @ 7.0% cap · market cap 20.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,823
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?
Triplex - Three residential units feature matching layouts, insulated windows, updated boilers, and dedicated off-street parking.
Where is this triplex located?
The property is located at 22-26 Chandler Street Lawrence, MA.
What is the asking price?
The asking price for this property is $869,900.
What are key features of this property?
This property features: 4,200‑square‑foot triplex with 3 residential units; Each unit includes a living room, kitchen, 3 bedrooms, and a full bathroom; 2 brand‑new boilers serve the second and third floors; first‑floor boiler is 8 years old
