116-124A Central Ave 22 Unit Apartment Building $7,610,712 CAD ($345,941 CAD/Unit) Lynn, MA 01910
INVESTMENT HIGHLIGHTS
- 18 residential apartments and 3 retail spaces generating monthly income.
EXECUTIVE SUMMARY
116-124 A Central, Lynn, MA is a prime mixed-use property featuring 18 residential apartments and 3 retail spaces in a highly convenient downtown location, steps from public transportation. Located in an Opportunity Zone, this property offers significant investment advantages. Recent renovations include repointing the front masonry wall, full lead compliance, replacement of three main sewer lines, and complete renovations of 2 commercial spaces and 12 apartments. Additionally, the building features coin-operated laundry in the basement, adding extra income potential. This well-maintained property is a standout investment in the heart of Lynn.
PROPERTY FACTS
| Price | $7,610,712 CAD |
| Price Per Unit | $345,941 CAD |
| Sale Type | Investment |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.94 AC |
| Building Size | 13,736 SF |
| No. Stories | 4 |
| Year Built | 1920 |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Oven
- Range
SITE AMENITIES
- On-Site Retail
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 22 | - | 600 |
Walk Score®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Number | LYNN-000068-000635-000002 | Improvements Assessment | $3,087,816 CAD |
| Land Assessment | $2,592,943 CAD | Total Assessment | $5,680,759 CAD |
ZONING
| Zoning Code | CBD (Stores & Residential) |
