7 Forest Street
$875,000
5
6
3,100
3,100
$282
New
Description
7 Forest St contains a total of six (6) residential units comprised of three (3), 1-Bedroom/1-Bathroom units, two (2), 1+ Bedroom/1-Bathroom units, and one (1) Studio unit with 3,100 square feet of living area in 5,458 gross square feet on a 0.15-acre parcel of land. The property features separately metered heat, hot water, and electricity for 5 of the units. The units have below-market residential rents, the opportunity exists to increase the rents to market rates in an urban-infill, high demand,...7 Forest St contains a total of six (6) residential units comprised of three (3), 1-Bedroom/1-Bathroom units, two (2), 1+ Bedroom/1-Bathroom units, and one (1) Studio unit with 3,100 square feet of living area in 5,458 gross square feet on a 0.15-acre parcel of land. The property features separately metered heat, hot water, and electricity for 5 of the units. The units have below-market residential rents, the opportunity exists to increase the rents to market rates in an urban-infill, high demand, supply-constrained residential market increasing the income of the Property. The property has a current cap rate of 8.00%.
- Listed by Spencer Norton • Horvath & Tremblay
Property Details for 7 Forest Street
Town
Lawrence
AreaMA-Lawrence
Garage Spaces0
Parking Spaces1.00
Parking Spaces Total1
LISTING UPDATED: 11/23/2024 12:04 PM
Property Details for 7 Forest Street
Status | New |
---|---|
MLS # | 73315326 |
Days on Market | 1 |
Taxes | $5,454 / year |
HOA Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-family / 5-9 Family |
Year Built | 1865 |
County | Essex County |
Building Information for 7 Forest Street
Stories9Residences6Year Built1865Building Size-Lot Size0.15 AC / 6,725 SF
Property Information for 7 Forest Street
Property History for 7 Forest Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 7 Forest Street
Taxable ValueLand$129,000Additions$460,600Total$589,600
Tax Record2024$5,454 ($454 / month)
Home Facts
Baths5Total Finished SqFt3,100 SqFtAbove Grade Finished SqFt3,100 SqFtStories3Lot Size6,725 SqFtStyleMulti-Family Res (5+ Units)Year Built1865CountyESSEXAPNLAWR M:0188 B:0000 L:0020
Schools near 7 Forest Street
This home is within Lawrence School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 12 | |||
Public - | 3 to 8 | |||
Public - | 5 to 8 | |||
Public - | 6 to 12 |
Rating | School | Distance |
---|---|---|
School For Exceptional Studies PublicPK to 12 | ||
Alexander B Bruce Public3 to 8 | ||
Guilmette Middle School Public5 to 8 | ||
Rise Academy Public6 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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