Updated
New
For Sale
$899,000
42 Summer Street, Lawrence, MA 01840
Each residence has an updated kitchen and bathroom, with refreshed flooring, paint, and fixtures.
Property Size3,655 SF
Price / SF$245.96
Days on Market4
Property Features for 42 Summer Street
General Information
Standard status
Active
Size
3,655 SF
Total Parking Spaces
1
Property subtype
Residential Income
Zoning
R-3
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$820,600
Building Details
Building Size
3,655 SF
Year Built
1900
Stories
3
Listing Agency:
LAER Realty Partners
Listed By:
Justin R Melo · License #9523155
(978) 251-8221
Source:
Laerrealty
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 6:38AM
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 LAER Realty Partners
Investment Insights
Based on property information with market context.
This triplex contains three separate living spaces within a 3,655-square-foot property built in 1900. Updates to the residences include kitchens, bathrooms, flooring, paint, and fixtures. The property is zoned R-3.
Shopping, restaurants, public transportation, and major commuter routes are nearby.
Shopping, restaurants, public transportation, and major commuter routes are nearby.
Key Highlights
- Three separate living spaces
- 3,655 square feet
- R‑3 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,573
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,231,460
$1.2M
Cap Rate 7%
$879,614
$879.6K
Cap Rate 9%
$684,144
$684.1K
Market Conditions
NOI Build-Up for 3,655 SF
Gross rent
$92.1K $25.20/SF
− Vacancy
−$4.1K −$1.13/SF
EGI
$88.0K $24.07/SF
− OpEx
−$26.4K −$7.22/SF
NOI
$61.6K $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 Rate 5%
$1,231,460
Cap Rate 7%
$879,614
Cap Rate 9%
$684,144
Alternative Uses
Best Use
Multifamily LT 5
$879.6K
$769.7K – $1.03M
NOI $61,573 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$794.0K
$694.7K – $926.3K
NOI $55,579 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,462 @ 7.0% cap · market cap 16.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 01840, MA
7,121
Population
3,415
Households
2.1
Avg Household Size
36
Median Age
13%
College-Educated
69%
High-School Grad
0.5 sq mi
ZIP Area
14,242
Density / Sq Mi
$34,630
Median Household Income
$31,930
Median Earnings
$1,174
Median Rent
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence has an updated kitchen and bathroom, with refreshed flooring, paint, and fixtures.
Where is this triplex located?
The property is located at 42 Summer Street Lawrence, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three separate living spaces; 3,655 square feet; R‑3 zoning
