This is your opportunity to own 20 approved condos, With 2 Bedrooms 1 Bath in every unit . Currently utilized as rental apartments. Several units have been updated, featuring modern kitchens, granite or Formica countertops, an array of flooring including hardwood, laminate, tile and carpet. Additionally, the convenience of in-unit laundry hook-ups, 20 parking spaces and so much more. With a substantial monthly rental roll of $30,000 and the potential for future rent adjustments, this offering presents an ideal opportunity for savvy investors seeking a high-quality asset poised for growth. Perfectly situated with easy access to the T Station and several bus lines, and in close proximity to many shops and malls, this property seamlessly combines convenience and quality, making it a compelling investment prospect. Please call for appt.

Property Details

Price:
$5,200,000
MLS #:
73161244
Status:
Active
Beds:
0
Baths:
20
Address:
386 Summer St
Type:
Commercial
City:
Lynn
Listed Date:
Sep 20, 2023
State:
MA
Finished Sq Ft:
3,600
ZIP:
01905
Lot Size:
16,988 sqft / 0.39 acres (approx)
Year Built:
1985

Schools

Interior

Exterior

Parking Spots
20
Roof
Shingle

Financial

Buyer Agent Compensation
2%
Net Operating Income
$216,441
Tax Year
2023
Taxes
$45,000

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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.,…

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386 Summer St
Lynn, MA