Four-Unit Residential Income
923-925 Essex St Lawrence, MA 01841
923-925 Essex St, Lawrence, MA, 01841
$849,900
Pending
For Sale
$849,900
Pending
Four units include one 1-bedroom and three 2-bedroom residences with on-site garage and driveway off-street parking.
Property Size3,936 SF
Days on Market92
Property Features for 923-925 Essex St
General Information
- Standard status
- Pending
- Size
- 3,936 SF
- Property subtype
- 4 Family
Building Details
- Year Built
- 1910
Listing agency
Keller Williams Realty
(617) 515-3665
Listed by
Heidy Gisler
(617) 515-3665
Source
Lockandkeyre
Added: Apr 22 Updated: Jul 21 at 4:27AM Checked: Jul 21 at 4:27AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This four-unit residential income property contains one 1-bedroom unit and three 2-bedroom units. Heating is provided by gas systems, with high-efficiency hot water for the first-floor units and gas steam boilers serving the second-floor units. The property includes a one-car garage and off-street parking accessed via a driveway. The attic presents potential for additional living space, with one side already partially finished.
The property is located at 923–925 Essex St in Lawrence, MA. It is being sold as-is and can be delivered vacant.
Parking flexibility is noted: the garage could be removed to provide access to the rear of the property for expanded parking options, depending on buyer plans.
The property is located at 923–925 Essex St in Lawrence, MA. It is being sold as-is and can be delivered vacant.
Parking flexibility is noted: the garage could be removed to provide access to the rear of the property for expanded parking options, depending on buyer plans.
Key Highlights
- 4‑unit multifamily with 1‑bedroom and three 2‑bedroom residences
- Gas heating: first‑floor units use high‑efficiency hot water systems; second‑floor units use gas steam boilers
- One‑car garage plus off‑street parking via the driveway
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $99.2k | $25.20 |
| − Vacancy | −$4.5k | −$1.13 |
| EGI | $94.7k | $24.07 |
| − OpEx | −$28.4k | −$7.22 |
| NOI | $66.3k | $16.85 |
3,936 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$947.2K
$828.8K – $1.11M
NOI $66,307 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$855.0K
$748.2K – $997.5K
NOI $59,852 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,107 @ 7.0% cap · market cap 19.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four units include one 1-bedroom and three 2-bedroom residences with on-site garage and driveway off-street parking.
Where is this quadplex located?
The property is located at 923-925 Essex St Lawrence, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 4‑unit multifamily with 1‑bedroom and three 2‑bedroom residences; Gas heating: first‑floor units use high‑efficiency hot water systems; second‑floor units use gas steam boilers; One‑car garage plus off‑street parking via the driveway
