137 Franklin St, Lynn, MA 01902
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$2,075,000
9 Unit
16 Beds
9 Baths
7565 SQFT
0.06 Acre

Property Description

Investors will appreciate this 8% Cap Rate on current in place rents on day one of ownership. The attractive unit mix of eight (8) two-bedroom units and one (1) three-bedroom unit making this a rare find on the bedroom count. Tenants are responsible for their own separately metered heat and LL is responsible for hot water and common electric.137 Franklin is well-located near the intersection of Western Avenue and Franklin Street and is around the corner from Stop & Shop and multiple bus stops along Western Avenue. The Property is situated close to Downtown Lynn and walkable distance to laundromats, restaurants and amenities including Central Square, Commuter Rail, Bayridge Hospital, and North Shore Community College. This building is also available as a 2-building package as well, see MLS #73481300.

Property Details tap to expand

Building Information

  • Total Units: 9
  • Total Floors: 3
  • Total Bedrooms: 16
  • Total Full Baths: 9
  • Basement Features: Full
  • Common Interior Features: Tile Floor

Financial

  • APOD Available: Yes
  • Gross Operating Income: 242100
  • Gross Expenses: 64274
  • GSE: 2882
  • Electric Expenses: 569
  • Water/Sewer: 8300
  • INSC: 8400
  • Repairs & Maintenance: 5850
  • RFS: 7200
  • Management Fee: 11500
  • Net Operating Income: 165721

Utilities

  • Electric Info: Circuit Breakers, Individually Metered, Underground
  • Energy Features: Insulated Doors, Insulated Windows
  • Utility Connections: for Electric Range, for Gas Range
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: Yes
  • Floors: 3
  • Levels: 1

Unit 2 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 5+ Family - 5+ Units Up/Down
  • Construction Type: Aluminum, Frame
  • Foundation Info: Fieldstone
  • Roof Material: Rubber
  • Flooring Type: Hardwood, Tile, Vinyl
  • Lead Paint: Certified Treated
  • Warranty: No

Other Information

  • MLS ID# 73502738
  • Last Updated: 04/16/26

Property History tap to expand

Date Event Price Price/Sq Ft Source
04/16/2026New$2,075,000$274MLSPIN

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Seller's Representative: Sara 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 2026-04-16 09:23:00