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365 Days on Jacob RealtyPrice Reduced $149,000
10
$1,450,000
Total Beds: 13 Total Baths: 4
Total Units: 13 SQFT: 4039
LOT size: 0.16 Acres
62 Nahant Street
Lynn, MA 01902
View Map

Property Description

NEW PRICE IMPROVEMENT! The cleanest, Fully Licensed Rooming/ Boarding house you will find!! This property located in Highly Desirable Diamond District, just a Few Blocks from the Beach and access to transportation! SUPER EASY TO MANAGE- Income Producing all while in PRIME LOCATION! (Note: NOT A SOBER HOUSE) Great corner lot, extra large 2 car detached garage (rented separately for bonus income!!) and a full dry basement with high ceilings with tons of storage space. 13 current rental units (including a separate 1-bedroom apartment) and an office space that can potentially be another rentable room (14 rooms in total). All rooms vary in size and include closets, and some are extra large potentially being able to add more beds for more income- buyer to verify this and do due diligence. ALL TENANTS ARE AT WILL. Some pay per week- others pay per month. Pre-approval or proof of funds required prior to showings. Partial seller financing will be considered.

Property Details

Building Information

  • Total Units: 13
  • Total Floors: 3
  • Total Bedrooms: 13
  • Total Full Baths: 3
  • Total Half Baths: 1
  • Total Fireplaces: 1
  • Amenities: Public Transportation, Shopping
  • Basement Features: Full
  • Common Heating: Electric Baseboard, Oil, Radiant

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 130296
  • Net Operating Income: 70663

Utilities

  • Electric Info: Circuit Breakers, Underground
  • 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

  • Under Lease: No

Unit 4 Description

  • Under Lease: No

Construction

  • Year Built: 1893
  • Type: 5+ Family - Rooming House
  • Foundation Info: Brick, Fieldstone
  • Flooring Type: Hardwood
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73173217
  • Last Updated: 10/12/24
  • Terms: Contract for Deed, Rent w/Option

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Map

Seller's Representative: Connie Irving, Coldwell Banker Realty - Marblehead
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 2024-10-12 07:53:00