148 Liberty, Lynn, MA 01901
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$5,200,000
24 Unit
31 Beds
24 Baths
13376 SQFT
0.11 Acre

Property Description

148 Liberty Street located in downtown Lynn is a handsome brick 4-story elevator apartment building consisting of twenty-four (24) residential units. The asset offers an attractive unit mix of seven (7) two-bedroom units, and seventeen (17) one-bedroom units with recently renovated common areas. The offering presents a strong value-add opportunity for investors as rents are currently below market within an urban densely populated area. The property is surrounded by many amenities, restaurants, commuting routes into Boston, and public transportation. Tenants are responsible for their own separately metered utilities such as heat, hot water, and electric making this an ideal investment. The property has undergone a number of capital improvements such as common area lighting, flooring, painting, masonry pointing, hot water tank replacements.

Property Details tap to expand

Building Information

  • Total Units: 24
  • Total Floors: 9
  • Total Bedrooms: 31
  • Total Full Baths: 24
  • Amenities: Medical Facility, Public School, Public Transportation, Shopping, T-Station, University, Walk/Jog Trails
  • Basement Features: Concrete Floor, Dirt Floor, Full, Partially Finished
  • Common Interior Features: Tile Floor

Financial

  • APOD Available: Yes
  • Expenses Source: Estimated, Owner Provided, Pro. Forma Available
  • Gross Operating Income: 417600
  • Gross Expenses: 125683
  • Electric Expenses: 7428
  • Water/Sewer: 14519
  • INSC: 20400
  • Repairs & Maintenance: 13200
  • RFS: 6000
  • Management Fee: 20045
  • Miscellaneous Expense: 3030
  • Net Operating Income: 275213

Utilities

  • Energy Features: Insulated Doors, Insulated Windows
  • Utility Connections: for Electric Oven, for Electric Range, Varies per Unit
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 2 Description

  • Under Lease: No
  • Floors: 3
  • Levels: 1

Unit 3 Description

  • Floors: 4
  • Levels: 1

Construction

  • Year Built: 1943
  • Type: 5+ Family - 5+ Units Up/Down
  • Construction Type: Aluminum, Brick, Frame
  • Foundation Info: Concrete Block, Fieldstone
  • Roof Material: Rubber
  • Flooring Type: Tile, Vinyl, Wall to Wall Carpet
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73317676
  • Last Updated: 12/09/24

Property History tap to expand

Date Event Price Price/Sq Ft Source
12/09/2024Active$5,200,000$389MLSPIN
12/05/2024New$5,200,000$389MLSPIN

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Seller's Representative: Dan Pouladian, North Shore Realty Advisors
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2024-12-09 03:05:00