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$1,700,000
Total Beds: 9 Total Baths: 4
Total Units: 4 SQFT: 4131
LOT size: 0.11 Acres
44 Essex Street
Lynn, MA 01902
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Property Description

MASH-certified apartment building on the Lynn/Swampscott line, providing beds for 17 clients plus a live-in manager. Each floor is self-contained with a private kitchen, living room, den, and bathroom. First floor 6 rooms / 2 bedrooms, second floor 6 rooms / 3 bedrooms, third floor 6 rooms / 4 bedrooms. All bedrooms are double occupancy and 100% occupied at $795 monthly rent per bed. Conveniently located on a bus line with shops across the street. Upgraded heating and hot water systems installed within the last two years. The roof is less than 10 years old. Turnkey opportunity. Off-street parking, fenced-in backyard, rear decks off of each floor. Quiet family neighborhood. The property is in very good shape with nothing left to do. Cap Rate 8.24%, Cash On Cash Return 12.4%. Owner financing provided.

Property Details

Building Information

  • Total Units: 4
  • Total Floors: 3
  • Total Bedrooms: 9
  • Total Full Baths: 4

Financial

  • APOD Available: No
  • Gross Operating Income: 95508
  • Net Operating Income: 95508

Utilities

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

Unit 1 Description

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

Unit 2 Description

  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1890
  • Type: 4 Family - 4 Units Up/Down
  • Foundation Info: Poured Concrete
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73222386
  • Last Updated: 04/14/24

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Map

Seller's Representative: Raymond R. Clements, Investment Property Advisors
Sub Agent Compensation: n/a
Buyer Agent Compensation: 1.5
Facilitator Compensation: 1
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2024-04-14 03:05:00