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8 Days on Jacob Realty
7
$5,289,000
Total Beds: 18 Total Baths: 21
Total Units: 21 SQFT: 17120
LOT size: 0.09 Acres
116-124A Central
Lynn, MA 01901
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Property Description

116-124A Central, Lynn, MA is a prime mixed-use property featuring 18 residential apartments and 3 retail spaces in a highly convenient downtown location, steps from public transportation. Located in an Opportunity Zone, this property offers significant investment advantages. Recent renovations include repointing the front masonry wall, full lead compliance, replacement of three main sewer lines, and complete renovations of 2 commercial spaces and 12 apartments. Additionally, the building features coin-operated laundry in the basement, adding extra income potential. This well-maintained property is a standout investment in the heart of Lynn.

Property Details

Building Information

  • Total Units: 21
  • Total Floors: 3
  • Total Bedrooms: 18
  • Total Full Baths: 21

Financial

  • APOD Available: Yes
  • Gross Operating Income: 467841
  • Gross Expenses: 116871
  • Net Operating Income: 350970

Utilities

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

Unit 1 Description

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

Unit 2 Description

  • Under Lease: Yes

Construction

  • Year Built: 1920
  • Type: 5+ Family - 5+ Units Up/Down
  • Construction Type: Brick
  • Foundation Info: Concrete Block
  • Roof Material: Rubber
  • Lead Paint: Yes
  • Warranty: No

Other Information

  • MLS ID# 73319745
  • Last Updated: 12/17/24

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Map

Seller's Representative: Oleg Elisev, Greenville Real Estate Group, Inc.
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 2024-12-17 03:05:00