44 Essex Street, Lynn, MA 01902
View Map
$1,700,000
4 Unit
9 Beds
4 Baths
4131 SQFT
0.11 Acre

Property Description

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% occupied 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 very good shape with nothing left to do. Cap Rate 8.24%, Cash On Cash Return 12.4%. Owner financing provided.

Property Details tap to expand

Building Information

  • Total Units: 4
  • Total Floors: 3
  • Total Bedrooms: 9
  • Total Full Baths: 4

Financial

  • APOD Available: No
  • Gross Operating Income: 95508
  • Net Operating Income: 95508

Utilities

  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1890
  • Type: 4 Family - 4 Units Up/Down
  • Foundation Info: Poured Concrete
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73222386
  • Last Updated: 05/18/24

Property History tap to expand

Date Event Price Price/Sq Ft Source
05/18/2024Active$1,700,000$412MLSPIN
05/14/2024Extended$1,700,000$412MLSPIN
04/14/2024Active$1,700,000$412MLSPIN
04/10/2024New$1,700,000$412MLSPIN

Mortgage Calculator

View Breakdown

Map

Seller's Representative: Raymond R. Clements, Investment Property Advisors
Sub Agent Compensation: n/a
Buyer Agent Compensation: 1.5
Facilitator Compensation: 1
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

© 2024 MLS Property Information Network, Inc.. All rights reserved.

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

MLS PIN data last updated at 2024-05-18 03:05:00