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116-124A Central Ave
Lynn, MA 01910
21 UNITS |COMMUTER RAIL ACCESS · Multifamily Property For Sale
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22 Units
PROPERTY FACTS
| No. Units | 22 | Lot Size | 0.94 AC |
| Property Type | Multifamily | Building Size | 13,736 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 1920 |
| Building Class | C | ||
| Zoning | CBD - Stores & Residential | ||
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.94 AC |
| Building Size | 13,736 SF |
| No. Stories | 4 |
| Year Built | 1920 |
| Zoning | CBD - Stores & Residential |
AMENITIES
UNIT AMENITIES
- Oven
- Range
SITE AMENITIES
- On-Site Retail
ABOUT 116-124A CENTRAL AVE , LYNN, MA 01910
Marcus & Millichap is pleased to announce the exclusive listing of a 21 unit Mixed-Use building located in Lynn, MA. This exciting opportunity offers investors the chance to acquire a Turn Key apartment building investment in one of the Oldest Historic Beach towns in America. Founded in 1629 the City of Lynn is strategically located less then 10 miles from the City of Boston, this landmark City continues to see low vacancy and strong rental growth. The subject property offers tenants several attractive floorplans. Each unit is fitted with a modern kitchen, ample closet space and open layouts. This attractive Mixed-Use opportunity allows investors to dramatically increase their return by bringing all units to current market rates. This deal is financeable with 25-30% down depending on the buyer/sponsor. Once all the units are brought to conservative market rates this investment will provide solid double digit Cash-On-Cash returns. Lynn is currently undergoing a major revitalization subsidized by the State of Massachusetts under the guidance of Governor Charlie Baker named the Lynn Economic Advancement and Development Team.
PROPERTY TAXES
| Parcel Number | LYNN-000068-000635-000002 | Improvements Assessment | $2,148,300 |
| Land Assessment | $1,804,000 | Total Assessment | $3,952,300 |
PROPERTY TAXES
