Three-Story Multifamily
New
For Sale
$979,999
248-250 Bailey, Lawrence, MA 01843
The building includes eight bedrooms, three full bathrooms, and two garage spaces.
Property Size3,082 SF
Lot Size0.13 Acres
Price / SF$317.98
Days on Market3
Property Features for 248-250 Bailey
General Information
Standard status
Active
Size
3,082 SF
Total Parking Spaces
10
Lot size
0.13 Acres
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$7,231
Building Details
Building Size
3,082 SF
Year Built
1910
Stories
3
Listing Agency:
The Guselli Agency, Inc.
Listed By:
Rafael Vega
(978) 866-8705
Source:
Classifiedrealtygroup
Added: Oct 23
Last Checked: Oct 24 at 2:11PM
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 The Guselli Agency, Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 248-250 Bailey in Lawrence, this three-story multifamily building was constructed in 1910. Its 3,082 square feet of interior living area includes eight bedrooms and three full bathrooms. The property also has two garage spaces for vehicle storage and a 5,571-square-foot lot.
Key Highlights
- 3,082 square feet of interior living area
- Eight bedrooms and three full bathrooms
- Three‑story building constructed in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,866
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$937,320
$937.3K
Cap Rate 7%
$669,514
$669.5K
Cap Rate 9%
$520,733
$520.7K
Market Conditions
NOI Build-Up for 3,082 SF
Gross rent
$88.8K $28.80/SF
− Vacancy
−$3.6K −$1.15/SF
EGI
$85.2K $27.65/SF
− OpEx
−$38.3K −$12.44/SF
NOI
$46.9K $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%
$937,320
Cap Rate 7%
$669,514
Cap Rate 9%
$520,733
Alternative Uses
Best Use
Apartment 5plus
$669.5K
$585.8K – $781.1K
NOI $46,866 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.60M – $2.13M
NOI $127,717 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,579
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
Frequently Asked Questions
What type of property is this?
Multifamily property - The building includes eight bedrooms, three full bathrooms, and two garage spaces.
Where is this multifamily property located?
The property is located at 248-250 Bailey Lawrence, MA.
What is the asking price?
The asking price for this property is $979,999.
What are key features of this property?
This property features: 3,082 square feet of interior living area; Eight bedrooms and three full bathrooms; Three‑story building constructed in 1910
