REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Shomari Lewis

shomari.lewis@engelvoelkers.com +1(401) 864-1786

$ 1,975,000

Est. payment -/mo

Save

Open Fri 12PM-1:30PM

138 Franklin Lynn, MA 01902

14 Beds

8 Baths

7,072 SqFt

Open House

Fri Apr 24, 12:00pm - 1:30pm

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5-9 Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,072 sqft

Price per Sqft $279

MLS Listing ID 73502739

Bedrooms 14

Full Baths 8

Year Built 1988

Annual Tax Amount $16,911

Tax Year 2026

Lot Size 7,405 Sqft

Acres 0.17

Property Sub-Type 5-9 Family

Property Description

Rare opportunity to acquire a well-maintained 8-unit asset, constructed in 1988, offering an attractive mix of renovated units and strong in-place cash flow. The property features four (4) one-bedroom units, two (2) townhouse-style two-bedroom units, and two (2) townhouse-style three-bedroom units. All units offer open-concept layouts with breakfast bars overlooking the living and dining areas. Kitchens have been renovated, and bathrooms are outfitted with durable vinyl surrounds, minimizing ongoing maintenance. Additional tenant amenities include individual storage units, in-building laundry connections, and off-street parking. Located along multiple public transportation routes and within close proximity to area amenities, the property benefits from strong rental demand. The asset is currently offered at a 7.25% capitalization rate on in-place income, and offers investors upside to increase rents moving forward. Also available as a package MLS#:73481300

Location

State MA

County Essex

Zoning B

Direction Western Ave to Franklin

Rooms

Basement Full, Partially Finished, Concrete

Interior

Flooring Wood, Tile, Vinyl

Exterior

Community Features Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, Public School, T-Station, University

Utilities Available for Gas Range, for Gas Oven

Roof Type Rubber

Total Parking Spaces 8

Garage No

Building

Lot Description Easements, Level

Story 5

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

Others

Senior Community false

Listed by North Shore Realty Advisors

NEARBY SCHOOLS & PROPERTIES

Shomari Lewis

Advisor | License ID: 9574211

+1(401) 864-1786

GET MORE INFORMATION