3-Unit Triplex with Off-Street
For Sale
$930,000
7-9 Champlain Avenue, Lawrence, MA 01841
Each residence offers three bedrooms, a full bath, and separate living, dining, and kitchen areas.
Property Size3,762 SF
Price / SF$247.21
Days on Market9
Property Features for 7-9 Champlain Avenue
General Information
Standard status
Active
Size
3,762 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Amenities
full basement
front porch
hardwood and tile flooring
insulated windows
off-street parking
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Realty ONE Group Nest
Listed By:
Kennia Mejia
(978) 360-7273
Source:
Ballowhutchinsonrealestate
Added: Oct 7
Changed: Oct 13
Last Checked: Oct 14 at 11:34PM
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 Realty ONE Group Nest
Investment Insights
Based on property information with market context.
Built in 1900, this 3,762-square-foot triplex contains three residences. Each unit has three bedrooms, one full bathroom, a living room, a dining room, and a kitchen. Hardwood and tile flooring, insulated windows, and a full basement add to the building’s physical features; the basement provides storage space.
The property has three separate heating zones, hot water baseboard heat, and natural gas-fired hot water. A paved drive provides off-street parking, and the building also has a front porch. The property is near Lowell Street, with access to major highways, shopping, dining, and public transportation.
The property has three separate heating zones, hot water baseboard heat, and natural gas-fired hot water. A paved drive provides off-street parking, and the building also has a front porch. The property is near Lowell Street, with access to major highways, shopping, dining, and public transportation.
Key Highlights
- Three units, each with 3 bedrooms and 1 full bathroom
- 3,762‑square‑foot building constructed in 1900
- Three separate heating zones with hot water baseboard heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,375
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,267,500
$1.3M
Cap Rate 7%
$905,357
$905.4K
Cap Rate 9%
$704,167
$704.2K
Market Conditions
NOI Build-Up for 3,762 SF
Gross rent
$94.8K $25.20/SF
− Vacancy
−$4.3K −$1.13/SF
EGI
$90.5K $24.07/SF
− OpEx
−$27.2K −$7.22/SF
NOI
$63.4K $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%
$1,267,500
Cap Rate 7%
$905,357
Cap Rate 9%
$704,167
Alternative Uses
Best Use
Multifamily LT 5
$905.4K
$792.2K – $1.06M
NOI $63,375 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$817.2K
$715.1K – $953.4K
NOI $57,206 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $155,896 @ 7.0% cap · market cap 16.76%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,572
Businesses Nearby
Explore this area
Business Placement
Demographics for 01841, MA
53,654
Population
17,546
Households
3.1
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
3.0 sq mi
ZIP Area
17,885
Density / Sq Mi
$54,525
Median Household Income
$34,741
Median Earnings
$1,565
Median Rent
$393,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence offers three bedrooms, a full bath, and separate living, dining, and kitchen areas.
Where is this triplex located?
The property is located at 7-9 Champlain Avenue Lawrence, MA.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Three units, each with 3 bedrooms and 1 full bathroom; 3,762‑square‑foot building constructed in 1900; Three separate heating zones with hot water baseboard heat
