116-124A Central, Lynn, MA 01901
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$5,289,000
21 Unit
18 Beds
21 Baths
17120 SQFT
0.09 Acre

Property Description

116-124A Central, Lynn, MA is a prime mixed-use property featuring 18 residential apartments and 3 retail spaces in a highly convenient downtown location, steps from public transportation. Located in an Opportunity Zone, this property offers significant investment advantages. Recent renovations include repointing the front masonry wall, full lead compliance, replacement of three main sewer lines, and complete renovations of 2 commercial spaces and 12 apartments. Additionally, the building features coin-operated laundry in the basement, adding extra income potential. This well-maintained property is a standout investment in the heart of Lynn.

Property Details tap to expand

Building Information

  • Total Units: 21
  • Total Floors: 3
  • Total Bedrooms: 18
  • Total Full Baths: 21

Financial

  • APOD Available: Yes
  • Gross Operating Income: 467841
  • Gross Expenses: 116871
  • Net Operating Income: 350970

Utilities

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

Unit 1 Description

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

Unit 2 Description

  • Under Lease: Yes

Construction

  • Year Built: 1920
  • Type: 5+ Family - 5+ Units Up/Down
  • Construction Type: Brick
  • Foundation Info: Concrete Block
  • Roof Material: Rubber
  • Lead Paint: Yes
  • Warranty: No

Other Information

  • MLS ID# 73319745
  • Last Updated: 12/17/24

Property History tap to expand

Date Event Price Price/Sq Ft Source
12/17/2024Active$5,289,000$309MLSPIN
12/17/2024Active$5,289,000$308MLSPIN
12/13/2024New$5,289,000$309MLSPIN
12/13/2024New$5,289,000$308MLSPIN

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Seller's Representative: Oleg Elisev, Greenville Real Estate Group, Inc.
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 2024-12-17 03:05:00