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Home Massachusetts Lynn Multi-Family Homes for Sale

423-427 Union St Lynn, MA 01901
NEW
16
423-427 Union St, Lynn, MA 01901
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$495,000
3 Unit
1 Bed
3 Baths
1462 SQFT
0.02 Acre

Property Description

Great opportunity to own and invest in Downtown Lynn. Located one block away from Lynn Station commuter rail stop. Prime spot for an owner occupant with either an office or apartment upstairs, and income-producing commercial tenants downstairs. Currently two retail units on the first floor, and an office space in need of repairs on the second. The property is in the "Central Business District" zoning area, which is intended to support mixed-use development. Allows up to 10 stories by right, with opportunity for residential units atop ground-level commercial. Especially with close proximity to transit, an investment offers potential for maximum density and income, with a more streamlined approval process. Included in photos are initial architectural mock-ups of a 5-story building made up of two commercial units on the first floor (or one larger unit), and five residential units above consisting of three 2-BR apartments and two studios. These are not approved plans, just drawings.
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Property Details tap to expand

Building Information

  • Total Units: 3
  • Total Floors: 3
  • Total Bedrooms: 1
  • Total Full Baths: 1
  • Total Half Baths: 2
  • Amenities: Medical Facility, Public Transportation, Shopping, T-Station

Financial

  • APOD Available: No
  • Gross Operating Income: 15600
  • Gross Expenses: 3871
  • Water/Sewer: 800
  • INSC: 3071
  • Net Operating Income: 11729

Utilities

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

Unit 1 Description

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

Unit 2 Description

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

Unit 3 Description

  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1913
  • Type: 3 Family
  • Construction Type: Brick
  • Foundation Info: Other (See Remarks)
  • Roof Material: Rubber
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73395332
  • Last Updated: 06/23/25

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Map

Seller's Representative: Chris McNamara, McNamara Realty, Inc.
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2025-06-23 15:19:00

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