$2,000,000
183 & 198 Parker
Lawrence, MA, 01843
The Parker Street Rooms & Apartments contain thirty-two (32) residential units, comprised of twenty-nine (29) SRO’s and three (3) apartments. 183 Parker Street contains twelve (12) SRO’s and one (1) apartment and 198-200 Parker Street contains seventeen (17) SRO’s and two (2) apartments. The two buildings are located in South Lawrence and are across the street from one another. The landlord is responsible for gas heat and all electricity in 183 Parker. 198-200 Parker Street features separately metered electricity for all the rooms and apartments, which is the heat source for the building. Passing the electric expense back on to the tenants would create a significant increase in the NOI of the properties. Current rents are also below market rate. The properties have a current cap rate of 9.22%.
Property Details
Price:
$2,000,000
MLS #:
73403863
Status:
Pending
Beds:
32
Baths:
9
Address:
183 & 198 Parker
Type:
Multi Family
Subtype:
5+ Family – Rooming House
City:
Lawrence
Listed Date:
Jul 14, 2025
State:
MA
Finished Sq Ft:
9,075
Total Sq Ft:
9,075
ZIP:
01843
Lot Size:
9,147 sqft / 0.21 acres (approx)
Year Built:
1900
Units:
32
Schools
Interior
Bathrooms
9 Full Bathrooms
Exterior
Parking Spots
4
Financial
Tax Year
2025
Taxes
$13,506
Marie Andrews is an award-winning, licensed real estate broker with licenses in Massachusetts and Florida. She has been selling real estate in the greater Boston area for over 20 years. Over the past two decades, Marie has worked for Century 21 Advanced Realty, building a reputation as a multi-million dollar producer. She has developed an extensive network of investors, lenders, and attorneys. Marie has a wide knowledge base on property management, Massachusetts real estate law, and building…
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Courtesy of Horvath & Tremblay. The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
183 & 198 Parker
Lawrence, MA
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