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Lawrence Multifamily Investment Opportunity

36 Manchester St, Lawrence, MA 01841

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For Sale

$889,000

Three-story multifamily property in Lawrence, MA with income growth potential.

Type:Investment

Property size:

5,072 SF

Price / SF:

$175/SF

HighLights

Multi‑family property with approximately 5,072 square feet of interior living space.
Very Walkable location (Walk Score: 86).
Opportunity for income growth through rent increases.
Long‑term tenants‑at‑will already in place.
Conveniently located within walking distance to local amenities.
Solid foundation for long‑term value.

We can help!

Listing Contact

Angel Boria

Learn more

For Sale

$889,000

Three-story multifamily property in Lawrence, MA with income growth potential.

Type:Investment

Property size:

5,072 SF

Price / SF:

$175/SF

Added:: Apr 24, 2026
Days on Market:: 53
Last Refresh:: Apr 24 at 6:10 pm

Property Features for 36 Manchester St

General Information

Standard status: Active
Size: 5,072 SF
Property subtype: Investment

Building Details

Year Built: 1900

We can help!

Listing Contact

Angel Boria

Listing agent Angel Boria

Listing office

Listing date Apr 24, 2026

Source Elliman

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 Angel Boria

HighLights

Multi‑family property with approximately 5,072 square feet of interior living space.
Very Walkable location (Walk Score: 86).
Opportunity for income growth through rent increases.
Long‑term tenants‑at‑will already in place.
Conveniently located within walking distance to local amenities.
Solid foundation for long‑term value.

Overview

Located at 36 Manchester Street in Lawrence, Massachusetts, this three-story multi-family property offers approximately 5,072 square feet of interior living space. The property features long-term tenants-at-will currently paying below-market rents, presenting an opportunity for income growth over time. The residence is within walking distance to many local amenities. The location has a bike score of 60, indicating it is bikeable, a walk score of 86, indicating it is very walkable, and a transit score of 38, indicating some transit options are available.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$146.1k	$28.80
− Vacancy	−$5.8k	−$1.15
EGI	$140.2k	$27.65
− OpEx	−$63.1k	−$12.44
NOI	$77.1k	$15.21

5,072 SF · lease $28.80/SF/yr · vacancy 4.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.10M

$964.1K – $1.29M (±1% cap)

NOI $77,127 @ 7.0% cap · market cap 8.68%

Second Best

—

no second resolved use

Theoretical Best

Office A

$3.00M

$2.63M – $3.50M (±1% cap)

NOI $210,182 @ 7.0% cap · market cap 23.64%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Lawrence
County: Essex
State: Massachusetts
Longitude: -71.1760551
Latitude: 42.7129669

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For sale
Apartment buildings
MA
Lawrence
01841
36 Manchester St

What type of property is this?

Apartment building - Three-story multifamily property in Lawrence, MA with income growth potential.

Where is this apartment building located?

The property is located at 36 Manchester St Lawrence, MA.

What is the asking price?

The asking price for this property is $889,000.

What are key features of this property?

This property features: Multi‑family property with approximately 5,072 square feet of interior living space.; **Very Walkable location (Walk Score: 86).**; Opportunity for income growth through rent increases.