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$3,900,000
Total Beds: 15 Total Baths: 10
Total Units: 10 SQFT: 12500
LOT size: 0.13 Acres
229 Lewis St
Lynn, MA 01902
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Property Description

~~~~~7% Return Ratio ~~~ 10 unit mixed use brick building built from ground up in 2010. Newer roof, newer plumbing, newer electrical, central AC all commercial grade. Hard wired smoke and sprinkler system as well. Property consists of (5) commercial retail units on first level. (Five) 3 bed 1 bath apartments on 2nd and 3rd floors in excellent condition. Washer and dryer hookups in all apartments. Tenants pay all utilities. All tenants have leases. Commercial tenants have rate increases built in yearly. Absolutely no deferred maintenance, nothing to do but collect your rents and watch as they increase. Laundry mat's business asset comes with the sale for free.

Property Details

Building Information

  • Total Units: 10
  • Total Floors: 10
  • Total Bedrooms: 15
  • Total Full Baths: 10
  • Amenities: Shopping

Financial

  • APOD Available: Yes
  • Gross Operating Income: 298080
  • Gross Expenses: 8860
  • Water/Sewer: 360
  • INSC: 8500
  • Net Operating Income: 127940

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
  • Floors: 2
  • Levels: 1

Unit 3 Description

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

Unit 4 Description

  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 2010
  • Type: 5-9 Family
  • Foundation Info: Poured Concrete
  • Lead Paint: None
  • Warranty: No

Other Information

  • MLS ID# 73326316
  • Last Updated: 01/19/25

Mortgage Calculator

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Map

Seller's Representative: Rebecca Huang, East West Real Estate, LLC
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 2025-01-19 03:05:00