Sold for $2,200,000

$2,200,000

246-254 Salem St, Lawrence, MA 01843

22beds

10,057sqft

5-9 Family

Built in 1920

-- sqft lot

$-- Zestimate^®

$219/sqft

$-- Estimated rent

Home value

Not available

Estimated sales range

Not available

Zestimate^® history

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$14,810/mo

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$14,810/mo

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What's special

Exceptional investment opportunity in the heart of South Lawrence! This rare 9-unit property consists of a 6-unit building, a 2-family, and a single-family home, offering a total of 22 bedrooms and 10 bathrooms. The property features strong in-place cash flow with low operating expenses and upside potential. Most units have been tastefully renovated, providing modern interiors that attract and retain quality tenants. Major capital improvements include updated heating systems throughout, all replaced in 2019. The unit mix includes spacious 3-bedroom apartments, multiple 2-bedroom units, and a well-maintained single-family residence with 2 bedrooms and 2 baths. Located in a highly desirable South Lawrence location near major routes, shopping, schools, and public transportation. A turnkey asset with scale, stability, and long-term growth potential — one of the most attractive multifamily investments currently available in Lawrence.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 22
Bathrooms: 10
Full bathrooms: 10

Features

Flooring: Wood, Tile, Vinyl, Other
Windows: Insulated Windows
Basement: Full
Has fireplace: No

Interior area

Total structure area: 10,057
Total interior livable area: 10,057 sqft
Finished area above ground: 10,057

Property

Features

Patio & porch: Porch
Exterior features: Balcony

Lot

Size: 6,534 Square Feet
Features: Easements, Other

Details

Parcel number: M:0121 B:0000 L:0018
Zoning: R3

Construction

Type & style

Home type: MultiFamily
Property subtype: 5-9 Family

Materials

Frame
Foundation: Stone
Roof: Shingle,Rubber

Condition

Year built: 1920

Utilities & green energy

Electric: 100 Amp Service
Sewer: Public Sewer
Water: Public
Utilities for property: for Gas Range

Community & HOA

Community

Features: Public Transportation, Park, Medical Facility, Laundromat, Highway Access, House of Worship, Public School, T-Station, University

Location

Region: Lawrence

Financial & listing details

Price per square foot: $219/sqft
Tax assessed value: $1,711,100
Annual tax amount: $14,784
Date on market: 9/21/2026
Total actual rent: 19900

Price history

Date	Event	Price
9/15/2026	Sold	$2,200,000+2.3%$219/sqft
Source: MLS PIN #73520829 Report a problem
5/26/2026	Pending sale	$2,150,000$214/sqft
Source: MLS PIN #73520829 Report a problem
5/19/2026	Contingent	$2,150,000$214/sqft
Source: MLS PIN #73520829 Report a problem
5/18/2026	Listed for sale	$2,150,000+19.8%$214/sqft
Source: MLS PIN #73520829 Report a problem
12/13/2024	Sold	$1,795,000+5.6%$178/sqft
Source: MLS PIN #73304583 Report a problem
10/29/2024	Contingent	$1,699,900$169/sqft
Source: MLS PIN #73304583 Report a problem
10/21/2024	Listed for sale	$1,699,900$169/sqft
Source: MLS PIN #73304583 Report a problem