Solid 4-Family Income Investment 174 Park St 4 Unit Apartment Building $1,791,400 CAD ($447,850 CAD/Unit) 7.12% Cap Rate Lawrence, MA 01841

EXECUTIVE SUMMARY
172 Park Street presents an opportunity to acquire a professionally maintained legal four-family apartment building in one of Lawrence's established residential neighborhoods. The property offers immediate income with additional upside through lease-up of the vacant owner's unit and below-market in-place rents.
The property contains approximately 5,473 square feet with 12 bedrooms and four full bathrooms situated on a 7,230-square-foot lot. Three Tenant-at-Will units currently produce $75,000 in annual gross income, while the vacant owner's unit creates immediate flexibility for an owner-occupant or lease-up at current market rents.
Based on estimated market rents of approximately $2,200 per unit, stabilized gross income is projected at approximately $105,600 annually.
INVESTMENT HIGHLIGHTS
• Legal Four-Family
• Offered at $1,300,000
• Owner's Unit Delivered Vacant
• Current Gross Income
$75,000
• Estimated Stabilized Gross Income
$105,600
• Separate Gas & Electric
• Individual Gas Heating Systems
• 200-Amp Electrical Service with House Meter
• Replacement Windows
• Certified Central Fire Sprinkler System
• Coin-Operated Laundry
• Tenant Storage
• 8+ Off-Street Parking
• Garage
• Three Tenant-at-Will Units
• Lead Compliance Documentation Available
PROPERTY DESCRIPTION
The building has been professionally maintained and features replacement windows, individually metered gas and electric service, individual gas heating systems, a certified central fire sprinkler system, coin-operated laundry, dedicated tenant storage, and abundant off-street parking.
Three apartments are currently occupied by Tenant-at-Will residents paying $2,200, $2,100, and $1,950 per month. The owner's apartment will be delivered vacant at closing, providing immediate occupancy or lease-up flexibility.
Water and sewer remain owner-paid.
Snow removal and routine maintenance have historically been performed by the owner and are therefore not reflected as separate operating expenses.
LOCATION
Conveniently located near Interstate 495, Interstate 93, Route 28, public transportation, shopping, restaurants, schools, parks, and major employment centers serving the Merrimack Valley and Southern New Hampshire commuter markets.
VALUE-ADD OPPORTUNITY
This asset offers investors the opportunity to increase revenue through lease-up of the vacant owner's unit and future turnover of below-market leases to current market rents while benefiting from a building with numerous infrastructure improvements already completed.
A due diligence package including rent roll, operating expenses, lead compliance documentation, utility information, and additional property details is available to qualified buyers upon request.