7-9 Holland Ave is a three-story building and contains nine residential units comprised of six 1-Bedroom/1-Bathroom units and three 2-Bedroom/1-Bathroom units. Each unit is separately metered for electricity and gas-fired heat, which the tenants pay directly. Hot water is the responsibility of the tenants in three units and the landlord in six units. The landlord is also responsible for common area electric and domestic water and sewer. The Property offers eleven on-site parking spaces for residents. 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:
$1,900,000
MLS #:
73315479
Status:
Active
Beds:
12
Baths:
9
Address:
7-9 Holland Ave
Type:
Multi Family
Subtype:
5-9 Family
City:
Lynn
Listed Date:
Nov 25, 2024
State:
MA
Finished Sq Ft:
8,493
Total Sq Ft:
8,493
ZIP:
01905
Lot Size:
5,662 sqft / 0.13 acres (approx)
Year Built:
1925
Units:
9

Schools

Interior

Bathrooms
9 Full Bathrooms

Exterior

Community Features
Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/ Jog Trails, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T- Station, University
Parking Features
Off Street
Parking Spots
11
Roof
Rubber

Financial

Net Operating Income
$111,674
Tax Year
2024
Taxes
$18,936

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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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7-9 Holland Ave
Lynn, MA