6-Bedroom Multifamily
23 Wesley St, Lawrence, MA 01841
For Sale
New
$485,000
Built in 1920, the residence has six bedrooms and two bathrooms.
Property Size2,224 SF
Price / SF$218.08
Days on Market5
Property Features for 23 Wesley St
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Century 21 Limitless
(508) 726-3492
Listed By:
Ryan McGovern
(401) 533-6017
Source:
Lockandkeyre
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 7 at 4:50AM
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 Century 21 Limitless
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property at 23 Wesley St in Lawrence dates to 1920 and contains 2,224 square feet of living space. Its layout includes six bedrooms and two bathrooms. The property is being sold as-is.
Key Highlights
- 2,224 square feet of living space
- Six bedrooms and two bathrooms
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,819
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$676,380
$676.4K
Cap Rate 7%
$483,129
$483.1K
Cap Rate 9%
$375,767
$375.8K
Market Conditions
NOI Build-Up for 2,224 SF
Gross rent
$64.1K $28.80/SF
− Vacancy
−$2.6K −$1.15/SF
EGI
$61.5K $27.65/SF
− OpEx
−$27.7K −$12.44/SF
NOI
$33.8K $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 Rate 5%
$676,380
Cap Rate 7%
$483,129
Cap Rate 9%
$375,767
Alternative Uses
Best Use
Apartment 5plus
$483.1K
$422.7K – $563.7K
NOI $33,819 @ 7.0% cap · market cap 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,162 @ 7.0% cap · market cap 19.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
560
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
$393,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Multifamily properties in Lawrence, MA
Properties on Market for Multifamily properties in Lawrence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1920, the residence has six bedrooms and two bathrooms.
Where is this multifamily property located?
The property is located at 23 Wesley St Lawrence, MA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 2,224 square feet of living space; Six bedrooms and two bathrooms; Built in 1920
