505 Chatham Street, Lynn, MA is a solid investment opportunity featuring a 12-unit brick building on a large lot with 12 parking spaces. The apartments consist mostly of spacious 2-bedroom units, with a couple of 1-bedroom units, all fully deleaded. Many windows have been recently replaced, and the property includes coin-operated laundry in the basement, adding extra income potential. This well-maintained property offers strong rental income and excellent cash flow, making it a standout in Lynn’s rental market

Property Details

Price:
$3,300,000
MLS #:
73319791
Status:
Active
Beds:
22
Baths:
12
Address:
505-509 Chatham
Type:
Multi Family
Subtype:
5+ Family – 5+ Units Up/Down
City:
Lynn
Listed Date:
Dec 13, 2024
State:
MA
Finished Sq Ft:
13,810
Total Sq Ft:
13,810
ZIP:
01902
Lot Size:
13,759 sqft / 0.32 acres (approx)
Year Built:
1910
Units:
12

Schools

Interior

Bathrooms
12 Full Bathrooms

Exterior

Parking Spots
12

Financial

Net Operating Income
$218,820
Tax Year
2024
Taxes
$30,185

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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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505-509 Chatham
Lynn, MA