347 Summer St, Lynn, MA 01905
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$1,100,000
3 Unit
11 Beds
6 Baths
4214 SQFT
0.11 Acre

Property Description

* Multiple Offer Alert* Highest and Best Due Friday, May 23rd, by 2pm. This sunny and spacious 3-family decker is tucked away from the street, and has been well maintained by the owner. All units are rented with no leases, and current rents are below market with lots of room to grow income here. Comprised of two 4-bedroom units and one 3-bedroom unit, each with 2 full baths, fully applianced eat-in kitchens, hardwood & laminate flooring, and newer exterior decks.The basement offers lots of storage and 2 sets of coin-operated washers and dryers. The shared driveway can accommodate up to 6 cars (2 spots per unit). Group Showing Wed., May 21st, 6 pm to 7 pm- Please register your attendance with listing agent (email or text message).

Property Details tap to expand

Building Information

  • Total Units: 3
  • Total Floors: 6
  • Total Bedrooms: 11
  • Total Full Baths: 6
  • Amenities: Public School, Public Transportation, Shopping, T-Station
  • Basement Features: Full, Unfinished Basement, Walk Out
  • Common Rooms: Kitchen, Living Room, Office/Den
  • Common Interior Features: Bathroom with Shower Stall, Bathroom With Tub, Ceiling Fans, Lead Certification Available
  • Common Appliances: Dishwasher, Disposal, Microwave, Other (See Remarks), Range, Refrigerator, Vent Hood, Washer Hookup
  • Common Heating: Extra Flue, Forced Air, Gas, Gas, Heat Pump, Hot Air Gravity, Hot Water Baseboard, Oil

Financial

  • APOD Available: Yes
  • Gross Operating Income: 75600
  • Gross Expenses: 16833
  • Electric Expenses: 500
  • Water/Sewer: 2250
  • INSC: 4500
  • Net Operating Income: 58767

Utilities

  • Electric Info: 100 Amps, Other (See Remarks)
  • Utility Connections: for Gas Dryer, for Gas Range, Washer Hookup
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private
  • Sewer District: Lynn

Unit 1 Description

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

Unit 2 Description

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

Unit 3 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 3
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 3 Family - 3 Units Up/Down
  • Construction Type: Aluminum, Frame
  • Foundation Info: Fieldstone
  • Roof Material: Rubber
  • Flooring Type: Hardwood, Vinyl, Wood
  • Lead Paint: Certified Treated
  • Warranty: No

Other Information

  • MLS ID# 73376579
  • Last Updated: 05/23/25
  • Terms: Contract for Deed, Rent w/Option

Property History tap to expand

Date Event Price Price/Sq Ft Source
05/23/2025Contingent$1,100,000$261MLSPIN
05/20/2025Active$1,100,000$261MLSPIN
05/16/2025New$1,100,000$261MLSPIN

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Seller's Representative: Cheryl A. Maggio, 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 2025-05-23 15:07:00