$4,000,000 ($226.14 per sqft)

Est. Mortgage $21,290/mo *

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526 Western Ave, Lynn, MA, 01904

526 Western Ave, Lynn, MA, 01904
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75 rooms

43 beds

16 Full baths

1910

17,688 sqft

Listed at a 7.28% Cap Rate on current income, the asset is a four-story brick building contains sixteen (16) units comprised of eleven (11), 3-Bedroom/1-Bathroom units and five (5), 2-Bedroom/1-Bathroom units with 17,688 square feet of living area on a 0.13-acre corner parcel of land. The Property is well-located at the intersection of Western Avenue and Franklin Street and is 0.1-miles from Stop & Shop. The Property is situated along the edge of Downtown Lynn and is walkable to numerous dining, drinking, shopping, cultural and entertainment amenities including Central Square, BayRidge Hospital, and North Shore Community College. 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. The option exists to potentially assume the existing debt at 4.04% interest rate.

Status:

Active

Type:

Multi-family

Units:

16

Zoning:

BD

Heating:

Natural Gas

Basement:

Unfinished

Levels:

4

Acreage:

0.13

Est. Taxes:

$38,531

Assessment

$3,455,700

Lot Description:

Corner Lot

Amenities:

Public Transportation, Shopping, Medical Facility, Laundromat, Highway Access, Public School, T-Station

MLS #:

73173826

Buyer Agent Compensation:

2%%

Facilitator Compensation:

0

Compensation Based On:

Gross/Full Sale Price

Sub-Agency Relationship Offered:

No

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of Stephen Girolamo, Horvath & Tremblay Phone: 781-776-4000