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Whether you're looking to offset your monthly housing expenses with rental income or build long-term wealth through real estate investing, this professionally maintained legal four-family offers exceptional flexibility, immediate cash flow, and outstanding long-term potential. Offered at $1,300,000, the property features 12 bedrooms, 4 full baths, and sits on a generous 7,000 sq. ft. lot with abundant off-street parking, one-car garage, storage shed, and garden area. The owner's unit will be delivered vacant at closing, creating an ideal opportunity for an owner-occupant or allowing investors to immediately lease at current market rents. Three Tenant-at-Will units currently generate $6,250 per month and with market rents estimated at approximately $2,200 per unit the projected gross income is $105,600/yr. Building features include individually heated units with separately metered gas and electric, replacement windows, updated electrical service with house meter, a fully certified central fire sprinkler system, coin-operated laundry, dedicated tenant storage, and a common mechanical area. Conveniently located near major highways, public transportation, shopping, restaurants, parks, and neighborhood amenities. Lead compliance history available.

More Info

Basic Information

  • Gross Income $105,600
  • Lot Features Level
  • Mls StatusNew
  • Parcel Number M:0150 B:0000 L:0003,4207333
  • Rent Includes Unit 1(Water), Unit 2(Water), Unit 3(Water), Unit 4(Water)

Basic Information

  • List Price$1,300,000
  • MLS Number73555467
  • Modification Date07/28/2026
  • Property SubType4 Family

Property

  • Acreage0.16
  • Other Structures Shed(s)

Interior

  • Interior Features Laundry Room

Utilities

  • Heat SystemYes
  • Heating Steam, Natural Gas
  • Sewer Public Sewer
  • Water Source Public

Amenities

  • Appliances IncludedRange, Microwave, Refrigerator
  • Other AmenitiesGarden

Tax Information

  • Tax Assessed Value $857,000
  • Tax Year 2026
  • Taxes$7,404

Parking

  • Covered Spaces 1
  • Garage YN Yes
  • Open Parking YN Yes
  • Parking Features Paved Drive, Off Street, Paved
  • Parking Spaces11

Building

  • Building Area Units Square Feet
  • FoundationConcrete Perimeter, Stone
  • Garage Spaces1
  • Levels 4
  • Patio And Porch Features Porch
  • Rooms22
  • Stories4
  • Units4
  • Year Built1910
  • Year Built Details Approximate
  • Year Built Source Public Records

Other

  • Date Listed07/27/2026
  • Farm Land Area Units Square Feet

School Information

  • Elementary SchoolJohn K. Tarbox School
  • High School Lawrence High School
  • Junior HighArlington Middle School

Rooms

  • Bathroom4
  • Bathrooms Total Decimal 4
  • Bedrooms12
  • Full Bath4

Location

  • Address172-174 Park Street
  • Building Number172-174
  • CountyEssex
  • StateMA
  • StreetPark Street
  • TownLawrence
  • Zip01841

Exterior

  • Exterior Features Sprinkler System, Fruit Trees, Garden
  • Fencing Fenced/Enclosed, Fenced
  • RoofRubber

Property Information

  • Building Area Source Public Records
  • Living Area 5,023
  • Lot Size Square Feet 7,000
  • Lot Size Units Acres
  • Square Feet5,023

Map Location

Listed by Kim Mulligan of Realty Direct Somerville

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. (MLSPIN) from third party sources, including sellers, lessors and public records, and were compiled by MLSPIN. The property listing data and information, and the Images, 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. MLSPIN and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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