62 Nahant Street, Lynn, MA 01902
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$1,450,000
13 Unit
13 Beds
4 Baths
4039 SQFT
0.16 Acre

Property Description

NEW PRICE IMPROVEMENT! The cleanest, Fully Licensed Rooming/ Boarding house you will find!! This property located in Highly Desirable Diamond District, just a Few Blocks from the Beach and access to transportation! SUPER EASY TO MANAGE- Income Producing all while in PRIME LOCATION! (Note: NOT A SOBER HOUSE) Great corner lot, extra large 2 car detached garage (rented separately for bonus income!!) and a full dry basement with high ceilings with tons of storage space. 13 current rental units (including a separate 1-bedroom apartment) and an office space that can potentially be another rentable room (14 rooms in total). All rooms vary in size and include closets, and some are extra large potentially being able to add more beds for more income- buyer to verify this and do due diligence. ALL TENANTS ARE AT WILL. Some pay per week- others pay per month. Pre-approval or proof of funds required prior to showings. Partial seller financing will be considered.

Property Details tap to expand

Building Information

  • Total Units: 13
  • Total Floors: 3
  • Total Bedrooms: 13
  • Total Full Baths: 3
  • Total Half Baths: 1
  • Total Fireplaces: 1
  • Amenities: Public Transportation, Shopping
  • Basement Features: Full
  • Common Heating: Electric Baseboard, Oil, Radiant

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 130296
  • Net Operating Income: 70663

Utilities

  • Electric Info: Circuit Breakers, Underground
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Under Lease: No

Unit 4 Description

  • Under Lease: No

Construction

  • Year Built: 1893
  • Type: 5+ Family - Rooming House
  • Foundation Info: Brick, Fieldstone
  • Flooring Type: Hardwood
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73173217
  • Last Updated: 11/01/24
  • Terms: Contract for Deed, Rent w/Option

Property History tap to expand

Date Event Price Price/Sq Ft Source
10/12/2024Active$1,450,000$359MLSPIN
10/08/2024Price Change$1,450,000$359MLSPIN
09/29/2024Active$1,599,000$396MLSPIN
09/25/2024Extended$1,599,000$396MLSPIN
05/05/2024Active$1,599,000$396MLSPIN
05/01/2024Extended$1,599,000$396MLSPIN
02/04/2024Active$1,599,000$396MLSPIN
01/31/2024Extended$1,599,000$396MLSPIN
10/27/2023Active$1,599,000$396MLSPIN
10/23/2023New$1,599,000$396MLSPIN

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Seller's Representative: Connie Irving, Coldwell Banker Realty - Marblehead
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2024-11-01 16:26:00