183 & 198 Parker Lawrence, MA 01843
South Common NeighborhoodEstimated payment $12,002/month
About This Home
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
Home Type
- Multi-Family
Est. Annual Taxes
- $13,506
Year Built
- Built in 1900
Lot Details
- 9,147 Sq Ft Lot
Parking
- 4 Car Parking Spaces
Interior Spaces
- 9,075 Sq Ft Home
- Property has 1 Level
Bedrooms and Bathrooms
- 32 Bedrooms
- 9 Full Bathrooms
Community Details
Overview
- 32 Units
Building Details
- Electric Expense $20,635
- Insurance Expense $22,000
- Water Sewer Expense $6,337
- Operating Expense $153,840
- Net Operating Income $184,420
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/18/2025 07/18/25 | Pending | -- | -- | -- |
| 07/14/2025 07/14/25 | For Sale | $2,000,000 | -- | $220 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73403863
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