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30-32 High St
Lynn, MA 01902
High Street Apartments · Multifamily Property For Sale
·
25 Units
Investment Highlights
- vast amount of amenities within walking distance, off street parking, laundry onsite.
Executive Summary
Yannios RE Investment Services, as exclusive agent, is proud to present a rare investment opportunity, that has not been available to the open market in 20 years. This offering represents a rare opportunity to acquire in one of the most supply-constrained submarkets in the Boston market. The building consists of 9-two bedrooms, 12-one bedrooms, 4 studios. Tenant paid heat and electric, hot water included in the rent. The units have sub-panels, newer ceramic tile & vinyl flooring, newer bathrooms, kitchens partial updated. The common hallways have newer vinyl plank flooring and lighting & newer roof. The common hallways have newer vinyl plank flooring and lighting & newer rubber roof. Value-add upside positioning the property to capture rent growth in a high-demand, low-vacancy market with access to public transportation and commuting routes into Boston. Demand drivers for rental housing in the Lynn market continue to strengthen, making this property ideally positioned for both long term rental growth and appreciation. Building maintained well and in good condition. Interested and qualified
buyers will be able to tour the property and obtain additional information...
buyers will be able to tour the property and obtain additional information...
Property Facts
| Price Per Unit | $200,000 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 17,976 SF |
| Cap Rate | 6.86% | Average Occupancy | 100% |
| No. Units | 25 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1890 |
| Property Subtype | Apartment | Parking Ratio | 0.56/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | R5 - Residential Multi-Family District for Intended for moderate-density multifamily housing such as apartments or condominiums. | ||
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 6.86% |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 17,976 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1890 |
| Parking Ratio | 0.56/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R5 - Residential Multi-Family District for Intended for moderate-density multifamily housing such as apartments or condominiums. |
Amenities
Unit Amenities
- Heating
- Kitchen
Site Amenities
- Laundry Facilities
Property Taxes
| Parcel Number | LYNN-000083-000619-000003 | Improvements Assessment | $1,623,000 |
| Land Assessment | $2,050,000 | Total Assessment | $3,673,000 |
Property Taxes
Parcel Number
LYNN-000083-000619-000003
Land Assessment
$2,050,000
Improvements Assessment
$1,623,000
Total Assessment
$3,673,000
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