Two-Unit
48 Union St, Lawrence, MA 01840
For Sale
$589,900
Separate-floor residences provide distinct living areas, with downtown services and public transportation accessible nearby.
Property Size2,048 SF
Days on Market51
Property Features for 48 Union St
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Lamacchia Realty
Listed By:
Benjamin Carbone · License MA 9578355-RE-S
(860) 382-6184
Source:
Elliman
Added: Sep 24
Changed: Nov 6
Last Checked: Nov 12 at 7:40AM
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 Lamacchia Realty
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Investment Insights
Based on property information with market context.
This townhome-style duplex contains two residences arranged on separate floors, each with its own private living area. The building dates to 1900 and is located at 48 Union St in Lawrence, Massachusetts.
Downtown amenities, shopping, dining, public transportation, and healthcare facilities are accessible in the surrounding Lawrence area. The property has a Walk Score of 86, a Bike Score of 50, and a Transit Score of 53.
Downtown amenities, shopping, dining, public transportation, and healthcare facilities are accessible in the surrounding Lawrence area. The property has a Walk Score of 86, a Bike Score of 50, and a Transit Score of 53.
Key Highlights
- Two residences in an up‑and‑down duplex layout
- Built in 1900
- Walk Score: 86, Very Walkable
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,501
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,020
$690.0K
Cap Rate 7%
$492,871
$492.9K
Cap Rate 9%
$383,344
$383.3K
Market Conditions
NOI Build-Up for 2,048 SF
Gross rent
$51.6K $25.20/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$49.3K $24.07/SF
− OpEx
−$14.8K −$7.22/SF
NOI
$34.5K $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%
$690,020
Cap Rate 7%
$492,871
Cap Rate 9%
$383,344
Alternative Uses
Best Use
Multifamily LT 5
$492.9K
$431.3K – $575.0K
NOI $34,501 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$444.9K
$389.3K – $519.1K
NOI $31,143 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,869 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,662
Businesses Nearby
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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
$1,174
Median Rent
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Market
Average Price Trend$/SF for Duplexes in Lawrence, MA
Properties on Market for Duplexes in Lawrence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate-floor residences provide distinct living areas, with downtown services and public transportation accessible nearby.
Where is this duplex located?
The property is located at 48 Union St Lawrence, MA.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Two residences in an up‑and‑down duplex layout; Built in 1900; Walk Score: 86, Very Walkable
