$1,500,000
$1,549,000
3.2%For more information regarding the value of a property, please contact us for a free consultation.
7-11 Broad Street Lynn, MA 01902
16 Beds
9 Baths
10,684 SqFt
Key Details
Sold Price $1,500,000
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Sold
Purchase Type For Sale
Square Footage 10,684 sqft
Price per Sqft $140
MLS Listing ID 72451754
Sold Date 05/15/19
Bedrooms 16
Full Baths 8
Half Baths 2
Year Built 1890
Annual Tax Amount $13,071
Tax Year 2018
Lot Size 6,098 Sqft
Acres 0.14
Property Sub-Type 5+ Family - 5+ Units Up/Down
Property Description
10-UNIT MIXED-USE INVESTMENT OPPORTUNITY located on Broad Street, near the Lynn commuter rail. 7-11 Broad Street boasts 10,684 +/- square feet of area, including two retail storefronts, featuring eight (8) two-bedroom apartments. The current rents in place are well below market value, creating the immediate ability to substantially increase income. All of the residential apartments are TAW. The basement, retail suites and common areas are all sprinklered. The roof is flat rubber and is in good condition and there are 5-6 parking spaces accessible by mutual right-of-way with the abutter. Seller has held this asset since 1992 so this is an opportunity with new management in place to be a strong producing asset for your portfolio.
Location
State MA
County Essex
Zoning BD
Direction .
Rooms
Basement Full
Interior
Flooring Varies Per Unit
Appliance Gas Water Heater, Utility Connections Varies per Unit
Exterior
Utilities Available Varies per Unit
Waterfront Description Beach Front, Ocean, Direct Access, Beach Ownership(Public)
Roof Type Other
Total Parking Spaces 6
Garage No
Building
Lot Description Easements
Story 3
Foundation Stone
Sewer Public Sewer
Water Public
Read Less
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Bought with Brian DApice • The Mega Group