Three-Unit Residential
903-905 Essex St, Lawrence, MA 01841
For Sale
$970,000
Each apartment has three bedrooms, an eat-in kitchen, a pantry, and a full bathroom.
Property Size1,900 SF
Price / SF$210.50
Days on Market13
Property Features for 903-905 Essex St
General Information
Standard status
Size
Property subtype
Lease Term
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Listing Agency:
eXp Realty LLC
(888) 854-7493
Listed By:
Martin Alcantara
(978) 210-1771
Source:
Iverty
Added: Oct 28
Changed: Nov 8
Last Checked: Nov 8 at 6:58AM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1900, this three-unit residential property contains 4,608 square feet. Each apartment offers six rooms, including three bedrooms, a living room, a dining room, and an oversized eat-in kitchen with an adjoining pantry, along with one bathroom. Enclosed porches serve the second- and third-floor units, and the first-floor apartment will be delivered vacant.
Building features include vinyl siding, replacement windows, updated electrical service, and gas-fired forced-hot-water baseboard heating. Two water heaters date to 2023, and another was installed in November 2025. The roof is four years old.
Building features include vinyl siding, replacement windows, updated electrical service, and gas-fired forced-hot-water baseboard heating. Two water heaters date to 2023, and another was installed in November 2025. The roof is four years old.
Key Highlights
- Three apartments with 4,608 square feet total
- Each unit has six rooms, three bedrooms, a living room, dining room, eat‑in kitchen, pantry, and one bathroom
- Enclosed porches on the second and third floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,627
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,552,540
$1.6M
Cap Rate 7%
$1,108,957
$1.1M
Cap Rate 9%
$862,522
$862.5K
Market Conditions
NOI Build-Up for 4,608 SF
Gross rent
$116.1K $25.20/SF
− Vacancy
−$5.2K −$1.13/SF
EGI
$110.9K $24.07/SF
− OpEx
−$33.3K −$7.22/SF
NOI
$77.6K $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%
$1,552,540
Cap Rate 7%
$1,108,957
Cap Rate 9%
$862,522
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$970.3K – $1.29M
NOI $77,627 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$1.00M
$875.9K – $1.17M
NOI $70,071 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$2.73M
$2.39M – $3.18M
NOI $190,954 @ 7.0% cap · market cap 19.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
929
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
$393,800
Median Home Value
Market
Average Price Trend$/SF for Triplexes in Essex County, MA
Properties on Market for Triplexes in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each apartment has three bedrooms, an eat-in kitchen, a pantry, and a full bathroom.
Where is this triplex located?
The property is located at 903-905 Essex St Lawrence, MA.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Three apartments with 4,608 square feet total; Each unit has six rooms, three bedrooms, a living room, dining room, eat‑in kitchen, pantry, and one bathroom; Enclosed porches on the second and third floors
