505-509 Chatham, Lynn, MA 01902
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$3,300,000
12 Unit
22 Beds
12 Baths
13810 SQFT
0.32 Acre

Property Description

505 Chatham Street, Lynn, MA is a solid investment opportunity featuring a 12-unit brick building on a large lot with 12 parking spaces. The apartments consist mostly of spacious 2-bedroom units, with a couple of 1-bedroom units, all fully deleaded. Many windows have been recently replaced, and the property includes coin-operated laundry in the basement, adding extra income potential. This well-maintained property offers strong rental income and excellent cash flow, making it a standout in Lynn's rental market

Property Details tap to expand

Building Information

  • Total Units: 12
  • Total Floors: 3
  • Total Bedrooms: 22
  • Total Full Baths: 12

Financial

  • APOD Available: Yes
  • Gross Operating Income: 304029
  • Gross Expenses: 85209
  • Net Operating Income: 218820

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
  • Floors: 1
  • Levels: 1

Construction

  • Year Built: 1910
  • Type: 5+ Family - 5+ Units Up/Down
  • Foundation Info: Concrete Block
  • Lead Paint: Yes
  • Warranty: No

Other Information

  • MLS ID# 73319791
  • Last Updated: 12/17/24

Property History tap to expand

Date Event Price Price/Sq Ft Source
12/17/2024Active$3,300,000$239MLSPIN
12/13/2024New$3,300,000$239MLSPIN

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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