MASH-certified apartment building on the Lynn/Swampscott line, providing beds for 17 clients plus a live-in manager. Each floor is self-contained with a private kitchen, living room, den, and bathroom. First floor 6 rooms / 2 bedrooms, second floor 6 rooms / 3 bedrooms, third floor 7 rooms / 4 bedrooms. All bedrooms are double occupancy and 100% occupied at $795 monthly rent per bed. Conveniently located on a bus line with shops across the street. Upgraded heating and hot water systems installed within the last two years. The roof is less than 10 years old. Turnkey opportunity. Off-street parking, fenced-in backyard, rear decks off of each floor. Quiet family neighborhood. The property is in very good shape with nothing left to do. Cap Rate 8.24%, Cash On Cash Return 12.4%. Owner financing provided.
Property Details
Price:
$1,700,000
MLS #:
73222386
Status:
Active
Beds:
9
Baths:
4
Address:
44 Essex Street
Type:
Multi Family
Subtype:
4 Family – 4 Units Up/Down
City:
Lynn
Listed Date:
Apr 10, 2024
State:
MA
Finished Sq Ft:
4,131
ZIP:
01902
Lot Size:
5,000 sqft / 0.11 acres (approx)
Year Built:
1890
Schools
Interior
Bathrooms
4 Full Bathrooms
Exterior
Parking Spots
4
Financial
Buyer Agent Compensation
1.5%
Tax Year
2023
Taxes
$9,078
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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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44 Essex Street
Lynn, MA
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