$1,700,000 Price Analysis    ♡   Lynn, MA 01902 9 bed 4 bath 4,131 SqFt ($411/SqFt) 5,000SqFt lot. Built 1890 Listed 2024-04-10, Taxes $9,078 | Ⓧ USDA Ineligible due to price & location near Lynn |
MASH-certified apartment building on the Lynn/Swampscott line
Providing beds for 17 clients plus a live-in manager. Each floor is self-contained with a private kitchen, living room, den and bathroom. First floor 6 rooms / 2 bedrooms, second floor 6 rooms / 3 bedrooms, third floor 6 rooms / 4 bedrooms. All bedrooms are double occupancy and 100% occuped at $795 monthly rent per bed.
Conveniently located on a bus line with shops across the street. Upgraded heating and hot water systems installed within the last two years. The roof is less than 10 years old. Turnkey opportunity. Off-street parking, fenced-in backyard, rear decks off of each floor. Quiet family neighborhood. The property is in good shape with nothing left to do. Cap Rate 8.24%, Cash On Cash Return 12.4%. Owner financing provided.
Presented by Raymond R. Clements at
Investment Property Advisors.
Property MLS #73222386 from MLSPIN
Full Bathrooms: 4
Lot Size Acres: 0.1147842
Lot Size Square Feet: 5000
Calculated Total Monthly Association Fees: 0
Source Listing Status: Active
County: Essex
Directions: gps
Tax Year: 2023
Source Property Type: Residential Income
Parcel Number: 1997764
Zoning: R1
Property Subtype: 4 Family - 4 Units Up/Down
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2023 | $623,900 + $190,300 $814,200 | $9,078 |
| 2022 | $503,200 + $153,100 $656,300 | $8,158 |
| 2021 | $496,100 + $129,500 $625,600 | $8,152 |
| 2020 | $460,200 + $126,400 $586,600 | $7,860 |
| 2019 | $370,100 + $118,100 $488,200 | $6,981 |
| 2018 | $319,400 + $127,300 $446,700 | $6,768 |
| 2017 | $291,300 + $105,000 $396,300 | $6,182 |
| 2016 | $254,800 + $105,400 $360,200 | $5,828 |
| 2015 | $202,600 + $105,400 $308,000 | $5,159 |
| 2014 | $202,600 + $92,800 $295,400 | $5,060 |
| 2006 | $269,100 + $112,200 $381,300 | $3,790 |
| 2005 | $254,100 + $100,000 $354,100 | $3,605 |
| 2004 | $229,200 + $91,300 $320,500 | $3,663 |
| 2003 | $175,400 + $70,700 $246,100 | $3,251 |
$1,700,000
MLSPIN
Building Area Total: 4131
Building Area Units: Square Feet
Foundation Details: Concrete Perimeter
Property Age: 134
Levels or Stories: 3
Year Built Details: Approximate
Year Built Source: Public Records
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.