Three-Unit Residential Income
263-265 Water Street Lawrence, MA 01841
263-265 Water Street, Lawrence, MA, 01841
$849,000
Pending
For Sale
$849,000
Pending
Three-family building with multiple bedrooms across four total units, offering rental flexibility for investors or owner-occupants.
Property Size3,720 SF
Days on Market28
Property Features for 263-265 Water Street
General Information
- Standard status
- Pending
- Size
- 3,720 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1900
Listing agency
Diamond Key Real Estate
(603) 382-7979
Listed by
Gina Guerra · License #9053146
(603) 382-7979
Source
Compass
Added: Jun 25 Updated: Jul 22 at 4:56AM Checked: Jul 22 at 4:56AM
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 Diamond Key Real Estate
Investment Insights
Based on property information with market context.
This three-family residential income property includes three well-proportioned units, featuring a unit mix of 2–3-bedroom units and one 4-bedroom unit. The layout is designed to accommodate a range of household sizes, with the additional bedroom space supporting tenants who need more room.
The property is located at 263–265 Water Street in Lawrence, Massachusetts. It is offered for sale, with an offer deadline of Wednesday, 7/1/26 by 5:00 PM, per the provided remarks.
As presented, the building offers straightforward flexibility for rental use or owner-occupancy, with the ability to offset expenses through rental revenue from the remaining units.
The property is located at 263–265 Water Street in Lawrence, Massachusetts. It is offered for sale, with an offer deadline of Wednesday, 7/1/26 by 5:00 PM, per the provided remarks.
As presented, the building offers straightforward flexibility for rental use or owner-occupancy, with the ability to offset expenses through rental revenue from the remaining units.
Key Highlights
- Three‑family multifamily building with 4 total units: three 2–3 bedroom units and one 4‑bedroom unit
- 3 full bathrooms total; Full basement
- Frame construction with shingle roof
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 | $93.7k | $25.20 |
| − Vacancy | −$4.2k | −$1.13 |
| EGI | $89.5k | $24.07 |
| − OpEx | −$26.9k | −$7.22 |
| NOI | $62.7k | $16.85 |
3,720 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$895.3K
$783.4K – $1.04M
NOI $62,668 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$808.1K
$707.1K – $942.8K
NOI $56,568 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,156 @ 7.0% cap · market cap 18.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-family building with multiple bedrooms across four total units, offering rental flexibility for investors or owner-occupants.
Where is this triplex located?
The property is located at 263-265 Water Street Lawrence, MA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Three‑family multifamily building with 4 total units: three 2–3 bedroom units and one 4‑bedroom unit; 3 full bathrooms total; Full basement; Frame construction with shingle roof
