39 Newhall St, Lynn, MA 01902
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$4,850,000
23 Unit
31 Beds
23 Baths
16052 SQFT
0.14 Acre

Property Description

39 Newhall (20 Units) and 8 Suffolk (3 Units) contain a total of twenty-three (23) units on one parcel of land, consisting of eight (8), 2-Bedroom/1-Bathroom units, twelve (12) 1-Bedroom/1-Bathroom units and three (3) 2-Room Studio units. Each unit is separately metered for electricity and gas-fired head, which the tenants pay directly. Hot water is the responsibility of the tenants in the 8 Suffolk units and the landlord in the 39 Newhall units. The landlord is responsible for common area electric and domestic water and sewer. In-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply-constrained residential market.

Property Details tap to expand

Building Information

  • Total Units: 23
  • Total Floors: 3
  • Total Bedrooms: 31
  • Total Full Baths: 23
  • Amenities: Golf Course, Highway Access, House of Worship, Laundromat, Marina, Medical Facility, Park, Private School, Public School, Public Transportation, Shopping, Swimming Pool, Tennis Court, T-Station, University, Walk/Jog Trails
  • Basement Features: Unfinished Basement

Financial

  • APOD Available: Yes
  • Gross Operating Income: 368940
  • Gross Expenses: 143375
  • Net Operating Income: 225565

Utilities

  • Electric Info: Individually Metered
  • 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: 1910
  • Type: 5+ Family - 5+ Units Side by Side
  • Foundation Info: Other (See Remarks)
  • Roof Material: Rubber
  • Lead Paint: Certified Treated
  • Warranty: No

Other Information

  • MLS ID# 73340893
  • Last Updated: 03/08/25

Property History tap to expand

Date Event Price Price/Sq Ft Source
03/08/2025Active$4,850,000$302MLSPIN
03/04/2025New$4,850,000$302MLSPIN

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Seller's Representative: Dennis Kelleher, Horvath & Tremblay
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2025-03-08 03:05:00