86 S Broadway, Lawrence MA 01843
Lawrence, MA 01843
$2,395,000
Est. $13,769/month
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About this home
This 38-unit rooming house consists of (38) SRO (single room occupancy) units across 11,800 SF. The property sits on 0.16 acres, the properties second and third floor are being offered for sale separate to the retail commerical units on the first floor. This asset is well-maintained, featuring a new roof, a new heating system, and a state-of-the-art security system. All upgrades to the building have been completed in the past 3 years. The property is well-positioned on the south side of Lawrence and provides direct access to Boston via Interstates 93 and 495, MA Route 28, and The Lawrence Train Station with service on the MBTA’s Haverhill Line (0.6 miles). The property is walkable to local retail establishments, grocery stores, and parks. The cap rate upon acquisition is 10.03%. The property is currently professionally managed and they are prepared to continue managing the property for new owner. Seller will consider other property in trade to help accommodate a 1031 exchange.
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Recently Sold Nearby
Property History
Property Timeline
Listed for Sale
May 12, 2026
$2,395,000
Original listing
Agent: Bradford Carlson
Office: New England Realty Advisors LLC
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 05/12/2026 | 🏠 Listed for Sale | $2,395,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2025 | $17,500 | $2,342,400 |
Financial Details
Annual Property Tax
$17,500
Tax Year 2025
Assessed Value
$2,342,400
Facts & Features
Home Facts
Type
Residential Income
Style
5+ Family - Rooming House
Year Built
1900
Living Area
11,800 sq ft
Lot Size
0.16 acres
Bedrooms
38
Full Baths
4
Total Rooms
45
Investment Metrics
Units
38
Unit 1 Rent
$1,000/mo · N
Unit 2 Rent
$1,000/mo · N
Total Monthly Rent
$2,000/mo
Gross Income
$434,100
Net Operating Income
$240,276
Operating Expenses
$165,797
Cap Rate
10.03%
Interior
Heating
None
Cooling
None
Flooring
None
Appliances
None
Fireplace
None
Basement
Full
Laundry
None
Features
None
Exterior
Construction
Brick
Architecture
None
Roof
Rubber
Features
None
Pool
None
Spa
None
Fencing
None
Patio/Porch
None
Parking
Features
On Street
Utilities
Electric
None
Water
Public
Sewer
Public Sewer
Gas
None
Other
None
Financial
Annual Tax
$17,500
Assessed Value
$2,342,400
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Seller Disclosures
None
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Sq Ft Source
Owner
Documents
None
County
Essex
Total market time (incl. prior listings)
4 days
Property Overview
Property Type
5+ Family - Rooming House
Listing Type
For Sale
Year Built
1900
Bedrooms
38
Full Bathrooms
4
Living Area
11,800 sq ft
Total Rooms
45
Stories
2
Levels
2
Floor Layout
Interactive room guide
Floor Layout
Finished Area
11,800 sq ft above grade
Display Options
Room Markers
BABathroom (4)
BRBedroom (5)
DDining (1)
KKitchen (1)
LLiving (2)
OOffice (1)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Full
Laundry:
Security:
Construction & Materials
Year Built:
1900
Structure Type:
Exterior Materials:
Brick
Roof:
Rubber
Foundation:
Stone, Brick/Mortar
Stories:
2
Heating, Cooling & Utilities
Heating:
Cooling:
Hot Water:
Natural Gas
Water Source:
Public
Sewer:
Public Sewer
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Zero Lot Line
Road Surface:
Parking & Garage
Parking Features:
On Street
Nearby Schools
School District
Lawrence School District local
D
Where Graduates Go
Class of 2021
36%
attend college
14%
4-Year
23%
2-Year
3%
Out of State
2%
Working
School Safety
2024-25
2.2%
Average
2.2%
Suspensions
1.1%
In-School
3.3% below state avg
Elementary Schools
10 schools
Lawrence Catholic Academy
0.2 mi
Grades PK-08
CLASS, Inc.
0.3 mi
Grades K-12
C+
Emily G Wetherbee School
0.3 mi
|
#235 of 352
|
Score: 37.5
Improved 66 spots from last year
-20.7 below state avg
480 students
Less Diverse
Rising School
Grades K-08
F
School for Exceptional Studies
0.9 mi
|
#343 of 346
|
Score: 17.7
Improved 40 spots from last year
-40.5 below state avg
118 students
Less Diverse
Rising School
Grades PK-12
C
Lawrence Family Development Charter School
0.9 mi
|
#254 of 352
|
Score: 36.0
Dropped 53 spots from last year
-22.3 below state avg
899 students
Less Diverse
Strong Attendance
Grades PK-08
B+
Community Day Charter Public School
1.2 mi
|
#125 of 352
|
Score: 46.9
Dropped 12 spots from last year
-11.3 below state avg
1,200 students
Less Diverse
Grades PK-08
D
Gerard A. Guilmette School
0.7 mi
|
#756 of 824
|
Score: 32.1
Improved 31 spots from last year
-26.1 below state avg
485 students
Less Diverse
Rising School
Grades 01-04
James F Hennessey School
0.7 mi
300 students
Less Diverse
Grades PK-02
John Breen School
0.8 mi
262 students
Less Diverse
Grades PK-K
C
South Lawrence East Elementary School
0.9 mi
|
#627 of 824
|
Score: 39.4
Improved 13 spots from last year
-18.8 below state avg
666 students
Less Diverse
Grades 01-05
Middle Schools
9 schools
C-
Guilmette Middle School
0.7 mi
|
#294 of 352
|
Score: 31.8
Dropped 12 spots from last year
-26.4 below state avg
457 students
Less Diverse
Grades 05-08
Blessed Stephen Bellesini O.S.A. Academy
0.8 mi
Grades 05-08
Esperanza Academy
0.8 mi
Grades 05-06
B+
Spark Academy
0.9 mi
|
#6 of 16
|
Score: 35.8
Improved 270 spots from last year
-22.5 below state avg
443 students
Less Diverse
Rising School
Grades 05-08
F
Oliver Middle School
0.9 mi
|
#346 of 352
|
Score: 24.3
Dropped 28 spots from last year
-33.9 below state avg
348 students
Less Diverse
Grades 05-08
C-
Frost Middle School
1.0 mi
|
#297 of 352
|
Score: 31.7
Improved 28 spots from last year
-26.5 below state avg
508 students
Less Diverse
Rising School
Grades 05-08
D
Alexander B Bruce School
1.0 mi
|
#331 of 352
|
Score: 27.7
Dropped 7 spots from last year
-30.5 below state avg
462 students
Less Diverse
Grades 03-08
D
Arlington Middle School
1.5 mi
|
#325 of 352
|
Score: 28.8
Improved 24 spots from last year
-29.4 below state avg
543 students
Less Diverse
Rising School
Grades 05-08
C-
Parthum Middle School
1.8 mi
|
#285 of 352
|
Score: 32.8
Dropped 7 spots from last year
-25.4 below state avg
585 students
Less Diverse
Grades 05-08
High Schools
5 schools
B-
RISE Academy
1.0 mi
|
#223 of 346
|
Score: 66.7
Same rank as last year
74 students
Less Diverse
College Ready Curriculum
Grades 06-12
B
High School Learning Center
0.3 mi
|
#172 of 346
|
Score: 71.1
Same rank as last year
198 students
Less Diverse
Career Tech Programs
College Ready Curriculum
Grades 09-12
C
Lawrence High School
0.9 mi
|
#270 of 346
|
Score: 44.4
Improved 37 spots from last year
-13.8 below state avg
3,453 students
Less Diverse
13 sports
• 1,440 athletes
Early College Program
Rising School
Career Tech Programs
College Ready Curriculum
Grades 09-12
B
Phoenix Academy Public Charter High School, Lawrence
0.9 mi
|
#182 of 346
|
Score: 69.9
Same rank as last year
140 students
Moderate
Career Tech Programs
College Ready Curriculum
Grades 09-12
Central Catholic High School
1.1 mi
21 sports
• 2,718 athletes
Strong Athletics
Grades 09-12
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Including down payment
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Down: $0
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Monthly Payment Breakdown
Principal & Interest
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Property Tax
$1,458
Homeowners Insurance
$200
PMI (if <20% down)
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Loan Summary
Total of 360 payments
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Payment Over Time
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
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Location
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Neighborhood
86 S Broadway, Lawrence MA 01843
Lawrence, MA 01843
Listing Information
Listing Agent
Bradford Carlson
Listing Office
New England Realty Advisors LLC
Office Phone
781-334-8044
Agent MLS ID
CN232232
Office MLS ID
AN8612
Listing Data Updated
May 16, 2026 3:05 AM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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