High Street Apartments
$5,000,000
30 High Street, Lynn, MA 01902
15,729 SF
Square Feet
$318
PPSF
25
Units
200.0K
PPU
6.82%
CAP
Property Description
Units
25 — PPU: 200.0K
NOI
$341,000
Cap Rate
6.82%
Yannios RE Investment Services, as exclusive agent, is proud to present a rare investment
opportunity, that has not been available to the open market in 20 years. This offering represents a rare opportunity to acquire in one of the most supply-constrained submarkets in the Boston market. The Building consist of 9-two bedrooms, 12-one bedrooms, 4 studios. Tenant paid heat and electric, hot water included in the rent. The units have sub-panels, newer ceramic tile & vinyl flooring, newer bathrooms, kitchens partial updated. The common hallways have newer vinyl plank flooring and lighting & newer roof. The common hallways have newer vinyl plank flooring and lighting & newer rubber roof. Value-add upside positioning the property to capture rent growth in a high-demand, low-vacancy market with access to public transportation and commuting routes into Boston. Demand drivers for rental housing in the Lynn market continue to strengthen, making this property ideally positioned for both long term rental growth and appreciation. Building maintained well and in good condition. Interested and qualified buyers will be able to tour the property and obtain additional information...
Property Details
Asset Type
MultiFamily
Year Built
1890
Zoning
R5
Lot Size
11,003 SF
Neighborhood
Lynn
Submarket
Lynn
ZIP
01902
Listing Type
sale
Net Operating Income (NOI)
$540,997
Debt Service Coverage Ratio (DSCR)
1.90x
Cap Rate
10.82%
Cash Flow (Annual)
$256,566
Cash-on-Cash Return
20.53%
Monthly Debt Service
$23,703
Annual Debt Service
$284,431
View on Map
Address
30 High Street
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Lynn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.