$4,000,000
About this home
Listed at a 7.28% Cap Rate on current income, the asset is a four-story brick building contains sixteen (16) units comprised of eleven (11), 3-Bedroom/1-Bathroom units and five (5), 2-Bedroom/1-Bathroom units with 17, 688 square feet of living area on a 0.13-acre corner parcel of land. The Property is well-located at the intersection of Western Avenue and Franklin Street and is 0.1-miles from Stop & Shop. The Property is situated along the edge of Downtown Lynn and is walkable to numerous dining, drinking, shopping, cultural and entertainment amenities including Central Square, BayRidge Hospital, and North Shore Community College. 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. The option exists to potentially assume the existing debt at 4.04% interest rate.
Affordability — calculate your monthly payment
Adjust your budget to see what's left after housing, utilities and transportation. Numbers below assume a 5% down, 30YrJumbo at 4% APR.
- Real estate (PITI + HOA + PMI)
- $27,160
- Utilities
- $1,020
- Transportation
- $150
- Other (entertainment)
- $158
Quick facts
At a glance
Home features
Lot features
Corner Lot
Neighborhood — 01904
| Metric | This ZIP | County | USA |
|---|---|---|---|
| Population | 20,814 | 6,444,931 | 299,088,112 |
| Population Change Since1990 | 9.00% | 7.00% | 20.00% |
| Population Density | 6,186 | 786 | — |
| Male | 10,182 | 3,127,134 | 147,432,321 |
| Female | 10,631 | 3,317,797 | 151,655,844 |
| Never Married | 5,045 | 1,612,885 | 63,775,926 |
| Married | 8,656 | 2,586,314 | 123,120,365 |
| Separated | 702 | 247,857 | 12,639,686 |
| Widowed | 1,144 | 363,594 | 15,467,586 |
| Divorced | 1,323 | 436,888 | 23,075,029 |
| Number Of House Hold | 7,653 | 2,431,591 | 111,826,380 |
| Average House Hold Size | 2.68 | 2.56 | 2.60 |
| Medial Age | 38.55 | 37.25 | 35.46 |
| Median House Hold Income | $62,450 | $57,698 | $48,276 |
| Average House Hold Income | $68,564 | $75,023 | $63,629 |
| P C I | $25,328 | $29,196 | $24,529 |
| M D I | $51,719 | $48,105 | $41,133 |
| A T H E | $54,269 | $57,083 | $50,898 |
| S T R | 5.00% | 5.00% | — |
| W C J | 83.65% | 81.38% | 77.74% |
Data via Certihomes neighborhood index. Comparisons across this ZIP, county and the United States.
Map & walkability
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Listing information last refreshed 10/25/2023. Provided courtesy of the listing office via MLSPIN. Information deemed reliable but not guaranteed.