54 Rockaway Pl, Lynn, MA 01902
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$699,900
2 Unit
4 Beds
2 Baths
1440 SQFT
0.11 Acre

Property Description

Wonderful opportunity to own a two-family home in Lynn; perfect for owner occupancy or investment! Cap Rate 8.21%, see attached Proforma. Extensively renovated with a new second-floor kitchen in 2018, a four-year-old roof, a Trex deck in front, a newer ductless mini split on the second floor, and gas heat with separate meters. Hardwood floors throughout. Park, restaurants, and shopping nearby. Easy highway access. Just 1 mile to the beach, and a 15-minute walk to the nearest T station to be built soon. Included in the sale is a 9.5 foot wide piece of land parallel to the street which provides parking for up to 9 cars. SHOWINGS BEGIN at the Open House on Saturday 01/04 and Sunday 01/05 both from 11 AM to 1 PM. Don't miss it!

Property Details tap to expand

Building Information

  • Total Units: 2
  • Total Floors: 3
  • Total Bedrooms: 4
  • Total Full Baths: 2
  • Amenities: Highway Access, Park, Public School, Public Transportation
  • Basement Features: Full
  • Common Rooms: Kitchen, Living Room
  • Common Appliances: Range, Refrigerator, Washer
  • Common Heating: Ductless Mini-Split System, Extra Flue, Gas, Gas, Heat Pump, Hot Air Gravity, Hot Water Baseboard

Financial

  • APOD Available: No
  • Expenses Source: Owner Provided, Pro. Forma Available
  • Gross Operating Income: 60000
  • Gross Expenses: 4753
  • Water/Sewer: 2800
  • INSC: 1953
  • Net Operating Income: 60000

Utilities

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

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 2 Family - 2 Units Up/Down
  • Foundation Info: Fieldstone
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73321833
  • Last Updated: 01/03/25
  • Terms: Contract for Deed, Rent w/Option

Property History tap to expand

Date Event Price Price/Sq Ft Source
01/03/2025Active$699,900$486MLSPIN
12/30/2024New$699,900$486MLSPIN
04/20/2018Sold$326,000$233MLSPIN
03/18/2018Under Agreement$339,900$243MLSPIN
03/05/2018Contingent$339,900$243MLSPIN
02/26/2018Active$339,900$243MLSPIN

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Seller's Representative: Paul Brouillette, LAER Realty Partners
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 2025-01-03 09:16:00