Haverhill Street Apartments

Lawrence is the Merrimack Valley's largest city, with roughly 89,000 residents living along the Merrimack River about thirty miles north of Boston. Laid out in the 1840s as a planned textile-manufacturing center, it became known as the "Immigrant City" and remains among the most diverse communities in Massachusetts, with a population that is approximately 82% Hispanic. The city is fundamentally a renter's market. Roughly 72% of households rent, median household income runs near $60,000, and the median age is only about 33 — a young, working-class base that sustains deep, steady demand for well-priced apartments. Lawrence's brick mills have been reborn as housing, office space, and civic uses, and the local economy is anchored by healthcare, education, and manufacturing. Lawrence General Hospital, the Greater Lawrence Family Health Center, Northern Essex Community College, and a New Balance design center are among the major employers. The MBTA Haverhill Line and Interstates 495 and 93 tie the city into the wider region.Northeast Private Client Group, Inc. is pleased to present 348-350 & 352-354 Haverhill Street, a 14-unit multifamily portfolio spread across two buildings built in 1920 in Lawrence, Massachusetts — the largest city in the Merrimack Valley, set on the north side of the Merrimack River about thirty miles north of Boston. The portfolio is offered at $2,785,000, a 6.50% cap on current income. The two buildings together hold fourteen apartments — five studios, seven one-bedrooms, and two two-bedroom units — a mix that tracks the deep, working-class rental demand of a city where the large majority of households rent. Tenants pay their own electricity, while ownership covers water and sewer, keeping the operating profile straightforward. Current rents sit below the local market, so marking each unit to market as leases turn creates a clear runway to higher income without repositioning the asset. The portfolio's downtown-Lawrence setting places residents within walking distance of Essex Street retail, Lawrence General Hospital, and Northern Essex Community College, with commuter rail and Interstate 495 close at hand. 348-350 & 352-354 Haverhill Street offers a stabilized value-add multifamily investment in a dense, renter-majority Merrimack Valley city — durable, income-producing housing with current rents below market and a straightforward path to lifting them over time. Please reach out to the deal contacts for more information.