138 Franklin, Lynn, MA, 01902
28 rooms
14 beds
8 Full baths
1988
7,072 sqft
Rare opportunity to acquire a well-maintained 8-unit asset, constructed in 1988, offering an attractive mix of renovated units and strong in-place cash flow. The property features four (4) one-bedroom units, two (2) townhouse-style two-bedroom units, and two (2) townhouse-style three-bedroom units. All units offer open-concept layouts with breakfast bars overlooking the living and dining areas. Kitchens have been renovated, and bathrooms are outfitted with durable vinyl surrounds, minimizing ongoing maintenance. Additional tenant amenities include individual storage units, in-building laundry connections, and off-street parking. Located along multiple public transportation routes and within close proximity to area amenities, the property benefits from strong rental demand. The asset is currently offered at a 7.25% capitalization rate on in-place income, and offers investors upside to increase rents moving forward. Also available as a package MLS#:73481300
Status:
Active
Type:
Multi-family
Units:
8
Zoning:
B
Energy Features:
Varies per Unit
Basement:
Full, Partially Finished, Concrete
Levels:
5
Parking:
8-car, Paved Drive, Off Street, Assigned
Acreage:
0.17
Est. Taxes:
$16,911
Assessment
$1,350,000
Construction
Frame
Utilities
for Gas Range, for Gas Oven
Lot Description:
Easements, Level
Amenities:
Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, Public School, T-Station, University
MLS #:
73502739
Community Info
School Info
Walk Score
Mass Transit
Yelp
Listing courtesy of Dan Pouladian, North Shore Realty Advisors 617-548-7737