39 Newhall (20 Units) and 8 Suffolk (3 Units) contain a total of twenty-three (23) units on one parcel of land, consisting of eight (8), 2-Bedroom/1-Bathroom units, twelve (12) 1-Bedroom/1-Bathroom units and three (3) 2-Room Studio units. Each unit is separately metered for electricity and gas-fired head, which the tenants pay directly. Hot water is the responsibility of the tenants in the 8 Suffolk units and the landlord in the 39 Newhall units. The landlord is responsible for common area electric and domestic water and sewer. In-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply-constrained residential market.

Property Details

Price:
$4,850,000
MLS #:
73340893
Status:
Active
Beds:
31
Baths:
23
Address:
39 Newhall St
Type:
Multi Family
Subtype:
5+ Family – 5+ Units Side by Side
City:
Lynn
Listed Date:
Mar 4, 2025
State:
MA
Finished Sq Ft:
16,052
Total Sq Ft:
16,052
ZIP:
01902
Lot Size:
6,098 sqft / 0.14 acres (approx)
Year Built:
1910
Units:
23

Schools

Interior

Bathrooms
23 Full Bathrooms

Exterior

Community Features
Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/ Jog Trails, Golf, Medical Facility, Laundromat, Highway Access, House of Worship, Marina, Private School, Public School, T- Station, University
Roof
Rubber

Financial

Net Operating Income
$225,565
Tax Year
25
Taxes
$35,186

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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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39 Newhall St
Lynn, MA