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Home Massachusetts Multi-Family Homes for Sale

9-11 Dungeon Ave Lynn, MA 01905
124 Days on Jacob RealtyPrice Reduced $105,100
24
$579,900
Total Beds: 4 Total Baths: 2
Total Units: 2 SQFT: 1368
LOT size: 0.28 Acres
9-11 Dungeon Ave
Lynn, MA 01905
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Property Description

An excellent opportunity for an investor seeking immediate rental income with value-add potential. Make your own updates with a $ 20,000 credit at closing! $20,000 credit at closing toward rate buydowns, prepaids, and closing costs! Currently generating $4,700/month ($56,400 annually) in rental income, with an approximately 8%+ projected cap rate based on current income and operating expenses. Tenants pay all utilities except water/sewer. All tenants are month-to-month, providing a new owner flexibility with the existing tenancies. Four off-street parking spaces. Both units have their own washer and dryer. The property is currently occupied, livable, and income-generating, but it does need updating. The interior has received fresh paint in several areas, while the exterior would benefit from updated vinyl siding/wrapping. This creates a great value-add opportunity for an investor to improve the property over time and further increase rents. The property has consistently generated extremely strong rental demand and would be perfect for an owner-occupant.
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Property Details

Building Information

  • Total Units: 2
  • Total Floors: 2
  • Total Bedrooms: 4
  • Total Full Baths: 2
  • Amenities: Golf Course, Highway Access, House of Worship, Laundromat, Medical Facility, Private School, Public School, Public Transportation, Shopping, T-Station
  • Common Interior Features: Tile Floor
  • Common Appliances: Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer, Washer Hookup
  • Common Heating: Electric, Forced Air, Space Heater

Financial

  • APOD Available: No
  • Expenses Source: Owner Provided
  • Gross Operating Income: 56400
  • Gross Expenses: 5359
  • Water/Sewer: 2200
  • INSC: 2159
  • Repairs & Maintenance: 1000
  • Net Operating Income: 51041

Utilities

  • Heat Zones: 2
  • Electric Info: Circuit Breakers, Underground
  • Utility Connections: Washer Hookup, for Electric Dryer, for Electric Range
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1970
  • Construction Type: Aluminum, Frame
  • Foundation Info: Slab
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Tile, Vinyl
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73536785
  • Last Updated: 10/05/26

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Map

Seller's Representative: Forrest Homes Group, The Aland Realty Group 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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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 2026-10-05 11:41:00

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