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High Street Apartments

High Street Apartments
FOR SALE
View more

$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.

Contact the Listing Team

James Yannios

James Yannios

Commercial RE Investment Broker

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James Yannios

James Yannios

Commercial RE Investment Broker

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