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376 Washington Street offers a rare chance to acquire a stabilized multifamily asset in the heart of Lynn. The property includes 46 furnished SRO units with shared kitchens, coin-op laundry, four full and four half bathrooms. Supported by newer building systems, it delivers operational efficiency, reduced near-term capital needs, and a strong 10% cap rate with consistent occupancy and reliable cash flow. Professionally managed with staffing and compliance in place, it ensures a seamless transition for new ownership. Located in a federally designated Opportunity Zone, it provides potential tax benefits alongside strong performance. Monthly rent is approximately $46,516, and the seller will consider a buyer’s property in trade for a 1031 exchange.
Current real estate data for Multi Family in Lynn as of Oct 08, 2025
42
Multi Family Listed
137
Avg DOM
298
Avg $ / SqFt
$1,176,948
Avg List Price

Property Details

Price:
$3,100,000
MLS #:
73430774
Status:
Active
Beds:
46
Baths:
6
Type:
Multi Family
Subtype:
5+ Family – Rooming House
Listed Date:
Sep 15, 2025
Finished Sq Ft:
10,585
Total Sq Ft:
10,585
Lot Size:
2,879 sqft / 0.07 acres (approx)
Year Built:
1912

Schools

Interior

Bathrooms
4 Full Bathrooms, 4 Half Bathrooms

Exterior

Parking Features
Paved Drive
Roof
Rubber

Financial

Net Operating Income
$311,263
Tax Year
2025
Taxes
$24,415

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Property Summary

    374-378 Washington St Lynn MA is a Multi Family for sale in Lynn, MA, 01901. It is listed for $3,100,000 To schedule a showing of MLS#73430774 at 374-378 Washington St in Lynn, MA, contact your Boardwalk Real Estate Corp. agent at 781-944-7820.

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CRP: Certified Relocation Professional
CRS: Certified Residential Specialist
GRI: Graduate of Realtors Institute
CBR: Certified Buyers Representative
BSBA: Bachelor of Science in Business Administration. Babson College 1979
MBA: Master of Business Administration. Babson College 2002

James M. Joly is President and Principal-Owner of Boardwalk Real Estate Corp.,…

More About James
374-378 Washington St
Lynn, MA