High Street Apartments
Property Description
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 consists 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. Call to schedule a tour
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $5,000,000 |
| No. of Units: | 25 |
| Cap Rate: | 7% |
| Average Occupancy: | 100 |
| Year Built: | 1890 |
| Building Size: | 17,976 Sq ft |
| Lot Size: | 6,573.00 Acres |
| No. of Stories: | 3 |
| Opportunity Zone: | No |
| Price per unit: | $200,000 |
| Property Website | Click Here |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|
FINANCIAL DETAILS
| Income/expense info: | Actual |
|---|---|
| Gross income: | 480900 |
| Effective Gross income: | 478473 |
| Operating expenses: | 135183 |
| Net operating income: | 343290 |
| Pre-tax cashflow: | 58854 |
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| James Yannios | (781) 224-0081 | [email protected] |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout