374-378 Washington St, Lynn, MA 01901
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$3,100,000
Units: N/A
46 Beds
8 Baths
10585 SQFT
0.07 Acre

Property Description

376 Washington Street offers a rare chance to acquire a stabilized multifamily asset in the heart of Lynn. The property includes 46 furnished SRO units with shared kitchens, coin-op laundry, four full and four half bathrooms. Supported by newer building systems, it delivers operational efficiency, reduced near-term capital needs, and a strong 10% cap rate with consistent occupancy and reliable cash flow. Professionally managed with staffing and compliance in place, it ensures a seamless transition for new ownership. Located in a federally designated Opportunity Zone, it provides potential tax benefits alongside strong performance. Monthly rent is approximately $46,516, and the seller will consider a buyer’s property in trade for a 1031 exchange.

Property Details tap to expand

Building Information

  • Total Floors: 4
  • Total Bedrooms: 46
  • Total Full Baths: 4
  • Total Half Baths: 4

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 558192
  • Gross Expenses: 209960
  • Electric Expenses: 23025
  • Water/Sewer: 14178
  • INSC: 28334
  • Repairs & Maintenance: 25300
  • RFS: 7352
  • Net Operating Income: 311263

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

Construction

  • Year Built: 1912
  • Type: 5+ Family - Rooming House
  • Foundation Info: Fieldstone
  • Roof Material: Rubber
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73430774
  • Last Updated: 09/26/25

Property History tap to expand

Date Event Price Price/Sq Ft Source
09/19/2025Active$3,100,000$293MLSPIN
09/15/2025New$3,100,000$293MLSPIN

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Seller's Representative: Dan Pouladian, North Shore Realty Advisors
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 2025-09-26 13:20:00